Posted on 04/06/2006 10:08:22 PM PDT by Ooh-Ah
West Virginia Rep. Mollohan Has Real-Estate Holdings That Also Bring Scrutiny Growth of Budget 'Earmarks'
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... money has brought more than jobs and building projects to his district. It has formed and financed a tight-knit network of nonprofit institutions in West Virginia that are run by people who contribute regularly to Mr. Mollohan's campaigns, political-action committee and a family foundation. One ...invests in real estate alongside Mr. Mollohan and his wife. The network of contributors also includes private companies that get contracts through these nonprofits.
Such a pattern raises questions about whether the donations or deals might be a way beneficiaries of earmarks could influence the legislator's actions. Now, federal prosecutors have opened an investigation of Mr. Mollohan's finances and whether they were properly disclosed, according to people contacted in the inquiry. Mr. Mollohan hasn't been accused of wrongdoing. A spokesman for the U.S. attorney's office in Washington, whose public-corruption unit is conducting the inquiry, declined to comment.
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... partners with Mr. Mollohan and his wife in five properties in Bald Head Island, N.C., valued in local real-estate records at a total of $2 million. The Mollohans recently bought a $1.45 million oceanfront home on the island, called the Peppervine House, which they rent out for $8,555 a week, next to the Kuhns' house, known as Cape Fearless. ....
Mr. Mollohan's government financial disclosure form, which shows only broad ranges of debts and assets, showed household assets of up to $565,000 in 2000, offset by debt of up to $465,000, including $100,000 in credit-card bills. Four years later, the couple's reported assets had soared to between $6.3 million and $24.9 million, with liabilities of $3.7 million to $13.5 million, mostly mortgages. Mr. Mollohan said his true assets are at the low end of those ranges.
(Excerpt) Read more at online.wsj.com ...
PING
Another example of the Democrat's "Culture of Corruption".
Interesting, could this bolster Del. Chris Wakim's chances of winning the seat ? I believe within a decade, we might see the entire WV delegation flip to the GOP.
YO NANCY!! HERE'S YOUR CULTURE OF CORRUPTION!
Please FReepmail me if you want on or off my ‘miscellaneous’ ping list.
No mention of his party must mean he's a DEMOCRAT.
Whoosh ... this family has created a BIG pile of loot. Wonder how close he is to Rocksferbrains and Sheets?
BTTT
also .. the Dems are blocking the House Ethics committee
YEP!
Of course!
Ha! Mollahan is goin dowwwnnnnnn. Yeah. WV is going GOP, one election at a time.
HAR!
Thank you!
Made my night.
Wow... who'da thunk? ;-)
Thanks for posting!
Looks like he and his wife had a profitable 4 years. I wonder if they know any attorneys or real estate investors in Arkansas.
Now if they can only tie Robert Byrd in this somehow we'd get a two-fer
The jump in Mr. Mollohan's wealth attracted the attention of the National Legal and Policy Center, a self-styled ethics-in-government nonprofit in Falls Church, Va. Funded by donations averaging $100 to $200, the conservative group helped ignite a procurement scandal a couple of years ago that brought down an Air Force contracting official and a chief financial officer of Boeing Co. The group said it found at least 200 misrepresentations or omissions in Mr. Mollohan's disclosure forms over the years that had the effect of grossly undervaluing his assets. It said it forwarded a list to prosecutors.
Even at the lower edge this guy is adding between $800,000 and $1.5 million a year.
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