He may have a very big problem. If he was off the deed, he was obligated to report a sale of the asset on his tax return. When he got the million bucks, do you suppose he might have filed a tax return claiming capital gains treatment? This could be big time tax fraud for him.
Complicated financial scandals have NO traction whatsoever - what you typed above is completely incomprehensible to about 99.99% of voters, particularly undecided ones.
Unless Reid is actually indicted or something before the election, this whole scandal is basically irrelevant politically.
I'm not sure if that's true. If he sold it for exactly what he paid for it, there's no taxable transaction.
I'd like to know if he actually got paid that amount, or whether that's a bogus figure in order to have a non-reportable event.
The problem is that he also got an equity interest in the company which he didn't report. He can't have it both ways. Either he sold the property for no net gain or loss, or he didn't. Subsequent events show that he got 75% of the company in addition to $400,000.
No stock trail, but it doesn't add up. Either he was completely out of the deal for $400k, or, more likely, he never got paid a dime until the million dollar payoff.
Or both, but it doesn't have an innocent explanation in any event.