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Former Gingrich 527 closes its doors

AP

Former House Speaker Newt Gingrich (R)

American Solutions for Winning the Future, the once vaunted political group founded by Newt Gingrich, has gone bellyup.

The Center for Public Integrity reports that the organization -- the centerpiece of an enterprise widely known as "Newt Inc." -- has quietly shut its doors and laid off its remianing six staffers, an apparent casualty of Gingrich's beleagered presidential drive.

American Solutions had raised $52 million in the past four years, using the funds to promote Gingrich's various policy positions and helping to keep its founder in the public eye. Its largest single donor: Las Vegas casino magnate Sheldon Adelson, who kicked in $7 million.

Gingrich, who is lagging in the polls, had to cut off ties to American Solutions once he announced for president.