AP Exclusive: Reid got $1M in land sale

AP ^ | Oct 11, 2006 | By JOHN SOLOMON and KATHLEEN HENNESSEY, Associated Press Writers

[Prost1]

WASHINGTON - Senate Democratic Leader Harry Reid collected a $1.1 million windfall on a Las Vegas land sale even though he hadn't personally owned the property for three years, property deeds show.

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In the process, Reid did not disclose to Congress an earlier sale in which he transferred his land to a company created by a friend and took a financial stake in that company, according to records and interviews.

The Nevada Democrat's deal was engineered by Jay Brown, a longtime friend and former casino lawyer whose name surfaced in a major political bribery trial this summer and in other prior organized crime investigations. He's never been charged with wrongdoing — except for a 1981 federal securities complaint that was settled out of court.

[StAnDeliver]

"He's never been charged with wrongdoing — except for a 1981 federal securities complaint that was settled out of court."

Only the AP could say this with a straight face.

How much do you want to bet the Reuters editor that got fired recently ends up at AP?

[headstamp]

MSM= Nothing to see here, lets move along.........

[mainepatsfan]

[tflabo]

Culture of Corruption ping. Attn. Non-see P.U.lousy

[Fawn]

My view of this is his lack of disclosure to the FEC and also the taxes on sale where he netted 1.1 million? Just a guess.

[Fawn]

Can't wait for Matt or Meredith to bring this up. WIll they have their typical smiles on their face as if it were a typical Bush Bashing morning?

[TexasCajun]

"But, But Foley sent those suggestive emails and IM's! That's serious!"

[Prost1]

I hear Reid is consulting with Hillary on the "cattle futures" to see if he can use a similar excuse.

No culture of corruption to be found here...nope, none at all. /sarcasm

[tflabo]

Does that look like the face of an honest man? SHAM!

Nice work Maggie digging up this pic again.

[cpdiii]

It's not so much the hang up that has me .... it's the fact that he has appeared to be lying by saying he owned the land when actually he appeared not to have owned the land.

Perhaps he sold the land, pocketed the money and did not report it on his taxes?? Perhaps what we smell is Tax Fraud?

[Bonaparte]

"What sort of legislative concession are we talking about here?"

If this happens, my guess would be a budget authorization bill for our military and the WOT.

[concerned about politics]

He lied to congress and claimed the land was still his, and didn't disclose his financial ties with Brown to congress and the American voters.
He "handed over in secret" the land to Brown. Brown paid all expenses on it - including taxes. That got Reid off the gift tax hook by saying it was his and out of paying taxes on the land himself. Then, bought some time to get legislation that would get the land off the environmental list so Brown could use it (endangered species tortuous). Then, it was sold and he claimed his $1 mill kick back.

[TexasCajun]

I guess this is what Dims meant by a Culture of Corruption.

But I hear Reid takes really good care of his immediate and extended family.

[tflabo]

Revenge of the Mormons against the Wayward son....Dingy.

[LADY J]

"The complex dealings allowed Reid to transfer ownership, legal liability and some tax consequences to Brown's company without public knowledge, but still collect a seven-figure payoff nearly three years later."

"There's also an endangered tortoise living on that land. It WAS an environmentally protected area. Reid swung a few crooked deals. The tortoise now goes extinct, and Reid is rich, rich, rich!"

They write the laws for us!! It's time ALL laws apply to them too. No more loop holes because you are a congress or senate person.

Washington, D.C. is a swamp. Lots of them come in with nothing & wind up millionaires!!

Slick & Thighs never owned anything in their lives!! Look at them now.

[Bonaparte]

"Perhaps what we smell is Tax Fraud?"

That's a certainty. And it's other things as well, including (I may as well be the first to say it) RICO violations.

[Senator_Blutarski]

Bump to the top.

[headstamp]

Mathews is going to need a spittle cup under his chin for this story, LOL.

[codercpc]

According to his website, he is very concerned about accountability, with many statements noting that the Repubs must accept responsibility about....everything. I suggest we all send him an email asking him to immediately resign! Also ask who knew what, when.

http://reid.senate.gov/

[cajungirl]

INfluence peddling. He got something out of this, incluenced people to help this guy, his partner.

I think he is in trouble.