[unspun]

These are issues for further investigation. Right now, it's a clear reporting violation. Whether it's more than that is unknown. Where there's smoke, there may be fire. Keep on it, freepers.

I thought the initial AP report indicated that he had sold the land previous to this recent sale, yet, this sale mysteriously netted him $1.1M. You are saying otherwise.

[Defiant]

What it said was that he transferred the land to the partnership, and then when the partnership sold the land 3 years later, he got $1.1million of the $1.6 million sales price. On the surface, it is not unusual. Where there is room for further review is on these issues:

1. Where did Reid get the purchase money? Who turned him on to the opportunity?

2. Why did the local politicians overrule the initial zoning decision? Was any undue influence used?

3. Did Reid properly report his profits to the IRS?

4. Did Reid seek to hide his partnership with his partner because he knew the guy was a crook? If so, it makes his failure to report the deal intentional.

5. What was the land worth in 1998? In 2001? In 2004? Check to make sure he wasn't getting any sweetheart deals.

At the very least, he failed to properly report his financial dealings, and should be reprimanded for that. If there is something else that comes up, it may be worse. If the GOP will have the nuts to look into this, that is.