Skip to comments.Pelosi filing shows financial disclosure loophole
Posted on 10/12/2011 3:14:49 PM PDT by NormsRevenge
WASHINGTON (AP) A real estate investment by House Democratic leader Nancy Pelosi's husband went undisclosed for years and has opened a window into a loophole that allows House members to avoid specifying some of their financial assets.
In 2010 and 2011, Pelosi voluntarily reported the Sacramento, Calif., land investment as an asset of her multimillionaire husband, Paul. She had not reported the investment for about 10 years previously because it was held by an S corporation her husband had set up, said Nadeam Elshami, a spokesman for the California congresswoman.
Under House financial disclosure rules, lawmakers are not obligated to specify the separate assets of an S corporation which is a business in which individual investors pay taxes on profits rather than the company.
Pelosi decided in 2010 to voluntarily disclose the investment because the land had become more valuable, Elshami said.
Pelosi first reported in 2010 her husband's investment in Russell Ranch LLC. It was described then as undeveloped residential real estate in Sacramento worth between $1 million and $5 million. In 2011, she listed the value between $5 million to $25 million.
(Excerpt) Read more at news.yahoo.com ...
She could have said nothing and let it ride..
Good ol’ 2-PAC Pelosi
Ya Don’t Mess with The SWampMaster!
Pelosi should be in jail.
She didn’t have to follow in her Dad and brother’s footsteps who were no angels themselves in Maryland politics.. it’s in the bloodline.. or sumthin’.
Like most things Pelosi does, this makes no sense.
Pelosi is a crook and belongs in jail along with Geithner, Frank, Dodd, Holder and the rest of the Obie regime.
I have never seen such corruption in Congress since I started covering them in 1970.
Instead of “emptying the swamp of corruption” in DC, Pelosi filled it to overflowing with Democrat turds and crooks.
Calling Roto-Rooter. We have a big, stinking job for you. You’re gonna need bigger clean-out machines.
A real estate investment made in California in the last two years that goes up in value by 500%.. I’m sure it’s just luck. It would have nothing to do with this being politically connected. Or a favor. Or a means of hiding assets. I’m sure. Pelosi would never do that. Oh, no.