Paul emerged in 2000 as the largest contributor to Senatorial candidate Hillary Clinton. Paul and his attorneys have at various times offered two explanations for this. First, that he was trying to attract her husband, then-President Bill Clinton, to serve on the board of Stan Lee Media after leaving office. Second, that he hoped to negotiate a pardon for his previous criminal convictions. Paul produced and underwrote what he described as the largest fund raising event ever held for a federal candidate, in Los Angeles, days before the 2000 Democratic Convention began. The Hollywood Farewell Gala Salute to President William Jefferson Clinton featured prominent entertainers singing for the President, while raising over $1 million for Hillary Clinton's Senate campaign. The event cost $1.9 million to organize according to Paul and $500,000 according to the Federal Election Commission filing, much of it borrowed fraudulently by Paul from Merrill Lynch. Later indictments would state that Merrill Lynch lost about $5 million it had lent to Paul.