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AP Exclusive: Reid got $1M in land sale
AP ^
| Oct 11, 2006
| By JOHN SOLOMON and KATHLEEN HENNESSEY, Associated Press Writers
Posted on 10/11/2006 11:21:50 AM PDT by 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.
(Excerpt) Read more at news.yahoo.com ...
TOPICS: Breaking News; News/Current Events
KEYWORDS: bookhimdano; crook; cultureofcorruption; democrats; dingyharry; dustyharry; eggonmyface; glasshousesalert; harryreid; jaybrown; lasvegasmafia; magnificentbastard; oopsididitagain; reid; rove; rovesfault; rymb; soiledharry; surprise; whitewaterii
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To: investigateworld
Yeah, you are right. That is why the GOP is going to open hearings to see what really happened there since they were asked by Comey from the DOJ, retired now and a democrat and the one that gave Fitzgerald super duper magical powers, not to investigate anything until the case was resolved legally. Per other posts you have done to me, you are a half empty type of person. I am a half full. I repeat, Reid is in trouble and I stand by my comment.
501
posted on
10/11/2006 6:15:02 PM PDT
by
jrooney
( Hold your cards close.)
To: Defiant
Ok. I'm a Senator. A friend donates one-quarter million dollars in my name to a company of which I am a silent oral partner. The company cashes out 3 years later and I get two million, which I use for my campaign. This is legal?
502
posted on
10/11/2006 6:20:57 PM PDT
by
Rennes Templar
("The future ain't what it used to be".........Yogi Berra)
To: LachlanMinnesota; All
Yahoo Users! Go to this site and "RECOMMEND" this story: http://news.yahoo.com/s/ap/20061011/ap_on_go_co/reid_land_windfall_6
503
posted on
10/11/2006 6:32:11 PM PDT
by
unspun
(What do you think? Please think, before you answer.)
To: jrooney
My glass is half full, yours is obviously half empty. GoBucks has a half-empty glass of Jack Daniels... yours is half full of Kool-Aid.
Let's be serious here... Rep. Jefferson got caught by the FBI with $90k cash in his freezer, and he's still serving many months later. What leads you to believe there will be any consequences for Reid?
To: Defiant
I'm not too familiar with IRS regulations, but isn't a taxpayer required to disclose income from a partnership? If I'm not mistaken the LLC must issue a K-1 (similar to a 1099) to both the taxpayer/partner and to the IRS. But Reid treated this property as if it were a personal holding. Did he report (to the IRS and/or the Senate) that this was income from the LLC or did he report it as a personal long-term capital gain?
505
posted on
10/11/2006 6:42:25 PM PDT
by
Timeout
(I hate MediaCrats! ......and trial lawyers.)
To: thoughtomator
Because the investigation into Jefferson is ongoing. He will be ultimately indicted and convicted. The FBI has already been on the record months ago when this first came to light, they had enough to arrest him on. The Nigerian VP Jefferson bribed has just been indicted in his own country for deals involving Jefferson.
Investigations that lead to successful prosecutions are never rushed because you only get one chance in a court trial. If you lose, you can not retry them.
As far as the Kool-aid remark, you are wrong. I have been involved in a few thousand investigations in my life and I know what is involved to get a strong case. I do not run off half cocked without looking at all the facts, like yourself.
506
posted on
10/11/2006 6:44:05 PM PDT
by
jrooney
( Hold your cards close.)
To: jrooney
Then explain to me how Jefferson is not only not in jail, but still serving in Congress.
I'd be willing to make a wager that there will be no consequences for Reid... say, if there is no arrest within 8 months, you donate $100 to FR, above and beyond any other contribution you would normally make, otherwise I will do so, above and beyond my normal contribution.
To: Prost1
Where are the calls to resign?
Allen & stock options = bad.
Reid & land sales = good.
508
posted on
10/11/2006 6:51:38 PM PDT
by
zendari
To: Mannaggia l'America
As long as Mr. Reid has, since he is the Democratic leadership in the Senate.
I wonder if he shared any of his investment tips with his Senatorial buddies?
509
posted on
10/11/2006 6:57:28 PM PDT
by
skr
(We cannot play innocents abroad in a world that is not innocent.-- Ronald Reagan)
To: thoughtomator
I will first off donate to FR because everyone should that uses the services here. Second, there is no way to determine how long the investigation will take. It could take weeks, months or over a year.
Jefferson was removed from his committe position by the whole donk congress because they know he is radioactive and in serious trouble. He is elected to Congress, so he can stay until convicted. Charges being brought by the feds or indictments by a federal grand jury still can not force him out of congress, only a conviction can. Jefferson is an egomaniac and will stay until he is placed in handcuffs and hauled off to jail.
510
posted on
10/11/2006 6:57:37 PM PDT
by
jrooney
( Hold your cards close.)
To: Defiant
"Unless something changes in the way the DOJ enforces the law, Reid is not in any trouble."
The Clintons probably have something on Alberto Gonzales.
To: thoughtomator
"Reid is in no trouble, because no one will hold him accountable for it."
I'm so glad I was the 1st to post this article.
It engenders so much positivism regarding our system of justice I just want to take a moment and say PROST EINS!
512
posted on
10/11/2006 7:00:46 PM PDT
by
Prost1
(Fair and Unbiased as always!)
To: Rennes Templar
That's not what happened, according to the article.
513
posted on
10/11/2006 7:18:56 PM PDT
by
Defiant
(Do you realize if the Star Wars creator's last name was Thomas, we would have Tom Skywalker?)
To: Perdogg
Time to rumble!!!
LOL! I'm looking forward to having some fun.
To: Timeout
The article does not state how Reid treated this transaction in his IRS filings, which would be unavailable to anyone except with Reid's permission. He could well have done the IRS filings properly, while failing to properly document the transfers in his Senate filings, which are public. Again, these are all issues for further investigation.
515
posted on
10/11/2006 7:23:43 PM PDT
by
Defiant
(Do you realize if the Star Wars creator's last name was Thomas, we would have Tom Skywalker?)
To: Victoria Delsoul
Ping! My senator in action! Haha!
516
posted on
10/11/2006 7:24:14 PM PDT
by
HitmanLV
("If at first you don't succeed, keep on sucking until you do succeed." - Jerry 'Curly' Howard)
To: jrooney
He's a crook so the Democrat party will embrace him until he is led off in handcuffs.
517
posted on
10/11/2006 7:24:40 PM PDT
by
1035rep
To: potlatch
"I'm tellin' ya, my hands are sweatin', my head is shakin', and I have diarrhea running down my legs..."
518
posted on
10/11/2006 7:27:14 PM PDT
by
bitt
("And an angel still rides in the whirlwind and directs this storm.")
To: 1035rep
You are right. It is truly sad how the donk party will embrace him.
519
posted on
10/11/2006 7:31:23 PM PDT
by
jrooney
( Hold your cards close.)
To: HitmanLV
Right now I'm singing and dancing on my chair, hahaha.
I love this song...
click on it
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