The pardon was for Isaac R. Toussie, a 36-year-old New York developer who pleaded guilty in 2001 to making false statements in a Long Island mortgage fraud scheme.
Toussie and his father, also a developer, had previously been accused of conspiring with lenders and others to build and sell substandard homes -- a charge they denied.
According to a senior cabal official, the White House learned more about Toussie's case Tuesday night -- only hours after announcing his pardon.
Specifically, the White House learned, according to the official, "additional information about the nature of fraud [Toussie] carried out."
The White House also learned Toussie's father made numerous contributions to leading repugican politicians.
In 2008, Toussie's father donated almost $40,000 to Arizona Senator John McCain, Minnesota Senator Norm Coleman, Oregon Senator Gordon Smith, and Virginia Representative Eric Cantor.
"Based on information that has subsequently come to light, the shrub has directed the [Justice Department's] pardon attorney not to execute and deliver a grant of clemency to Mr. Toussie," White House Press Secretary Dana Perino said in a written statement.
"The pardon attorney has not provided a recommendation on Mr. Toussie's case because it was filed less than five years from completion of his sentence. The shrub believes that the pardon attorney should have an opportunity to review this case before a decision on clemency is made."
Bradford Berenson, Toussie's lawyer, issued a statement saying, "Isaac Toussie is deeply grateful that both the counsel to the shrub and the shrub himself found Mr. Toussie's pardon application to have sufficient merit to be granted.
"Mr. Toussie looks forward to the pardon attorney's expeditious review of the application and remains confident that the pardon attorney will agree with the shrub and the White House counsel."
Under Justice Department guidelines, an application for a presidential pardon will not be considered by the department's pardon attorney until a convict has been out of prison for five years.
Toussie was sentenced in September 2003 to a five-month prison sentence, as well as three years of supervised release.
CNN's attempts to reach Toussie's lawyers on Wednesday have been unsuccessful.
The Presidential pardon lists are being closely monitored in the final weeks of the shrub's and cabal's junta, particularly to see whether Lewis "Scooter" Libby will be granted the presidential favor.
Other notables who asked for pardons include former Representative Randall "Duke" Cunningham, a repugican from California, who was convicted of receiving bribes; publishing executive Conrad Black, convicted of fraud; former junk bold salesman Michael Milken; former WorldCom CEO Bernard Ebbers, convicted of accounting fraud; and Taliban American John Walker Lindh.
Charles Winters, who died almost 25 years ago, was one of the 19 people given a pardon earlier in the week. His son worked towards a presidential pardon for his dad, who had helped smuggle weapons to Jews fighting in what was then Palestine in the late 1940s.
A Protestant from Boston, Massachusetts, Winters spent 18 months behind bars. He was the only U.S. citizen to serve time for helping fly weapons to Jews struggling to create Israel.
A 20th person received a commutation of a life sentence for possession of methamphetamine with intent to distribute. That individual, Reed Raymond Prior, was ordered released from prison in February 2009. He will have served more than 12 years.
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