If Hillary can make some major coin from ‘cattle futures’, poor Harry should be allowed to get in on the act!
WASHINGTON | Senate Democratic Leader Harry Reid collected a $1.1 million windfall on a Las Vegas land sale even though he hadn?t owned the property for three years, property deeds show.
The Nevada Democrat?s deal was engineered by Jay Brown, a longtime friend and former casino lawyer whose name surfaced in a political bribery trial this summer and in previous organized-crime investigations. He has 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 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.
?In 2001, Reid sold the land for the same price to a limited-liability corporation created by Brown. The senator did not disclose the sale on his annual public ethics report or tell Congress that he had a 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 his 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 in an interview last week.
— From the Kansas City Star
Maybe he ‘forgot’, like when Billy Boy forgot about selling land his ‘mother’ owned.