Sunday, April 27, 2014
Democrat leader reaped $1.1 million from sale of land he didn't own
By John Solomon And Kathleen Hennessey, Associated Press
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.
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: