Sen. Harry Reid, D-Nev.
Posted on 10/11/2006 2:54:55 PM PDT by Libloather
Corruption claimed in Harry Reid deal
Senate Minority Leader hung up phone when queried about $1 million windfall
Posted: October 11, 2006
3:02 p.m. Eastern
© 2006 WorldNetDaily.com
Sen. Harry Reid, D-Nev.
Senate Democratic Leader Harry Reid hung up the phone when questioned by the Associated Press about a $1.1 million windfall on land he had not owned for three years, the wire service is reporting.
Reid collected on the Las Vegas land sale in a deal engineered by a longtime friend and former casino lawyer, Jay Brown, whose name has surfaced in organized crime investigations, the AP said.
According to records and interviews obtained by the AP, the senator 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 the company.
Defending the senator, his aides argued the deal was not disclosed because it was considered a "technical transfer."
No money changed hands, they insisted, and Reid's ownership stake in Brown's company was equal to the value of his land. The senator, they contended, also continued to pay taxes on the land.
The aides also explained there were no documents to prove Reid's stake in the company, because it was an informal agreement between friends.
The AP said Reid bought the undeveloped residential property on the outskirts of Las Vegas for about $400,000 and sold it in 2001 for the same price to Brown's limited liability corporation.
Reid did not disclose the sale on his annual public ethics report or tell Congress he had any stake in Brown's company, the AP notes, but continued to report to Congress that he personally owned the land.
Brown then convinced local officials to rezone the property for a shopping center before his company sold the land in 2004 to other developers.
Reid nearly tripled his investment, taking $1.1 million of the proceeds. He then reported it to Congress as a personal land sale.
The AP said Reid hung up the phone when questioned about the deal during an interview last week.
Reid spokesman Jim Manley told the wire service the 1998 purchase "was a normal business transaction at market prices."
"There were several legal steps associated with the investment during those years that did not alter Senator Reid's actual ownership interest in the land," he said.
But Senate ethics rules require lawmakers to disclose on their annual ethics report all transactions involving investment properties, regardless of profit or loss, the wire service points out, and to report any ownership stake in companies.
A former Federal Election Commission official affirmed Reid's failure to report the sale and his ties to Brown's company violated Senate rules.
"This is very, very clear," said Kent Cooper, who oversaw government disclosure reports for federal candidates for two decades. "Whether you make a profit or a loss you've got to put that transaction down so the public, voters, can see exactly what kind of money is moving to or from a member of Congress.
"It is especially disconcerting when you have a member of the leadership, of either party, not putting in the effort to make sure this is a complete and accurate report," said Cooper. "That says something to other members. It says something to the Ethics Committee."
WE NEED TESTIMONY UNDER OATH!!!!
THIS SMACKS OF A CULTURE OF ....CORRUPTION !!!!!!!!!!!!
"No way he survives this."
Corruption and Pedophelia are Accepted Democrat behavior if you're DNC Approved...
Jersey, if Rove can take down Harry Reid in the coming weeks, it would be the Silver Bullet the GOP needs.
I'll be watching for the official response of Nancy Pelosi. Has anyone contacted her office to see what time the press conference is scheduled?
I told many here that Karl Rove is all about timing. He could have nailed Reid a month ago, but waited like a Lion in the grass closer to the election. Reid and Blagoevich might be gone in 2 weeks.
I'd have to go dig but I think this was the stink, here, about the land up the US 95 corridor.
That is where a lot of the expansion was headed. And it turned out that this land deal was almost exclusively the property that would be future US 95 over passes.
The aides also explained there were no documents to prove Reid's stake in the company, because it was an informal agreement between friends.
Nice touch.
Happy Holidays Harry, and be sure to enjoy your ride.
the little town of......SEARCHLIGHT!!!!!!!!
That said. . .The aides also explained there were no documents to prove Reid's stake in the company, because it was an informal agreement between friends.
'Really'(?) 'informal'; and no way to 'check and verify'. Great politics Harry!.
WHAT a creep and a loser; and a liar.
. . .and stupid that he apparently thinks the 'turnip truck' just keeps on rolling. . .with the rest the world on it. The AP said Reid bought the undeveloped residential property
Yep, it sure does. I remember that too.
America needs to do the same to the 'Rats.
His non-stop venomous attacks on anything Bush or Republican were Clintonian attempts to deflect inquisitive minds from HIS trail.
By-the-way, Reid's compadres in the (alleged) news media will try to avoid, minimize, or morally equate this story unless we here at F.R. (and others) maintain a healthy interest in it.
.
No doubt, though I am not holding my breath. Dumocrats usually hang tough through their crimes and misdeeds but with the CoC theme, I am hoping nancy stabs him in the back.
The sad part is that this will be ignored until Rush,Sean,BOR,Hewitt and the internet can drum up interest.
The drive by media will carry the water for Harry as long as they can, focusing on a no sex "sex scandal" instead.
`cause I don't get tired of repeating it.
:-))
Yes, indeed. She's both emotionally AND mentally "disturbed", IMHO.
I know he's a democrat, but from what I see in the atricle, there really isn't much here. If these allegations weret to be made against Hastert, etc. we would probably consider it a witch hunt by the MSM.
Maybe there's more to it to give it legs, but I am just not seeing it in this article.
In breaking news, pot found to be black after calling kettle same.
I disagree. It's too complex for the average voter to grasp, so they won't try very hard to follow it.
It'll have minimal impact and he'll successfully resist any demands that he resign.
But I could be wrong.
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