Skip to comments.Democrat leader [Harry Reid] reaped $1.1 million from sale of land he didn't own
Posted on 04/27/2014 11:04:52 AM PDT by Jim Robinson
WASHINGTON Senate Democratic Leader Harry Reid collected a $1.1 million windfall on a Las Vegas land sale even though he hadn't personally owned the property for three years, property deeds show.
VIDEO: Reid land deal may violate rules [scrubbed]
In the process, Reid 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 that company, according to records and interviews.
The Nevada Democrat's deal was engineered by Jay Brown, a longtime friend and former casino lawyer whose name surfaced in a major political bribery trial this summer and in other prior organized crime investigations. He's never been charged with wrongdoing except for a 1981 federal securities complaint that was settled out of court.
Land deeds obtained by The Associated Press during a review of Reid's business dealings show:
The deal began in 1998 when Reid bought undeveloped residential property on Las Vegas' booming outskirts for about $400,000. Reid bought one lot outright, and a second parcel jointly with Brown. One of the sellers was a developer who was benefiting from a government land swap that Reid supported. The seller never talked to Reid.
In 2001, Reid sold the land for the same price to a limited liability corporation created by Brown. The senator didn't disclose the sale on his annual public ethics report or tell Congress he had any stake in Brown's company. He continued to report to Congress that he personally owned the land.
After getting local officials to rezone the property for a shopping center, Brown's company sold the land in 2004 to other developers and Reid took $1.1 million of the proceeds, nearly tripling the senator's investment. Reid reported it to Congress as a personal land sale.
The complex dealings allowed Reid to transfer ownership, legal liability and some tax consequences to Brown's company without public knowledge, but still collect a seven-figure payoff nearly three years later.
Reid hung up the phone when questioned about the deal during an AP interview last week...
More at link:
What a corrupt and dirty little man Reid is. A real reprobate.
Thanks for the link, hoosiermama.
An oldie Goldie that’s being passed around again ... Cause its relevant !
Looks like Louisiana has filed ethics complaint. Time to pile on! And insist he give up all his positions of power in the senate. Step down until the issues are resolved or he’s wearing orange ;-)
And this is why you won’t see Dirty Harry having hearings on the Bundy
RAID. His corruption on a massive scale would be exposed.
By the way, miss Romney yet? Lost lost in 2012 and never be recovered.
Republicrats war on hairy reid-iculous? LOL! He don’t care.
Primary elections matter.
Oh yea, Myth would have been all over this.
If we were a nation of laws, this mud crawler would be doing life.
he’s a DC politician, corrupt is a given or he wouldn’t be there.
I wonder how much he was expecting from the Bundy ranch?
Sponsoring FReepers are contributing
$10 Each time a New Monthly Donor signs up!
Get more bang for your FR buck!
Click Here To Sign Up Now!
Look at this!
This is how corrupt politicians work.
—when this originally came out in the LA Times , I called Reid’s office and asked when he was going to do real estate seminars , as I wished to do the same-—I got hung up on-—
The next segment of her shows deals with the land in Texas— almost as good
Her show is repeated again here on Sunday. Well worth viewing again!!
Great link... hope everyone sees it...