[h/t: Drudge] This is priceless! The AP has just released a story about the Democratic Senate Leader Harry Reid: AP Exclusive: Reid Got $1M in Land Sale.

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.

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.

The same Harry Reid that has been trying to make a case for the GOP being the most corrupt in Congress.

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.

I’ll bet he did!

Despite the sale, Reid continued to report on his public ethics reports that he personally owned the land until it was sold again in His disclosure forms to Congress do not mention an interest in Patrick Lane or the company’s role in the 2004 sale.
(…)
Reid isn’t listed anywhere on Patrick Lane’s corporate filings with Nevada, even though the land he sold accounted for three-quarters of the company’s assets. Brown is listed as the company’s manager. Reid’s office said Nevada law didn’t require Reid to be mentioned in the filings.

Can’t wait for all the manic backpedaling on this one — Of course, we know that it’s all Bush’s fault. Heh! (db)

Technorati Tags: Harry Reid, Patrick Lane, Senate Ethics Violations

This entry was posted on Wednesday, October 11th, 2006 at 12:47 pm and is filed under Congress, Decision '06, Media Doin' It Right. You can follow any responses to this entry through the RSS 2.0 feed. Both comments and pings are currently closed.  |   Print This Post  |   Email This Post

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