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Rangel Remembers $780K More Assets

From the New York Post:


August 26, 2009

WASHINGTON — Embattled Harlem Rep. Charles Rangel — who is under investigation by the House Ethics Committee — failed to reveal personal assets totaling as much as $780,000 in financial-disclosure reports filed with Congress, records released yesterday show.

Democrat Rangel, the chairman of the tax-writing Ways and Means Committee, submitted corrected documents with the House Clerk earlier this month, more than a year after filing handwritten and wildly inaccurate 2007 disclosure forms that left out a hefty checking account, several sizable investments and land in New Jersey.

The unreported assets included one of Rangel’s most valuable holdings — a checking account at the Congressional Federal Credit Union containing somewhere between $250,000 and as much as $500,000, according to the revised form released yesterday. The forms include only ranges of value and not specific amounts.

Rangel also didn’t ‘fess up to at least five other investments. One of those, with the ING Principal Protection Fund, was valued at between $50,000 and $100,000, records show.

Three previously undisclosed investment portfolios ranged in value from $15,000 to $50,000, including stock in Pepsico.

Another unrevealed investment — stock in YUM! Brands — ranged in value from $1,000 to $15,000, according to records.

Also left off Rangel’s original 2007 financial-disclosure report were two empty lots in Glassboro, NJ, valued at less than $15,000.

The revised financial-disclosure forms raise Rangel’s net worth in 2007 from $1.3 million to as much as $2.5 million.

Rangel also altered his disclosed investment income from that year. The original report showed he had received between $6,511 and $17,900, but the new report shows between $45,423 and $134,700.

His office said Rangel is all paid up on his taxes.

Congress requires members to file annual financial-disclosure reports to show where outside income comes from and to help expose relationships with outside interests.

Rangel’s office yesterday acknowledged the faulty disclosure forms but refused to answer numerous key questions.

"Last fall, the congressman publicly acknowledged errors in some of his previously filed forms and committed to a thorough review of his financial records," read the statement, issued by Elbert Garcia.

"He said at that time that he would correct any mistakes, and with these amendments he has done so."

His office declined to explain how Rangel could have overlooked a checking account containing between $250,000 and $500,000 or how long the lawmaker has failed to account for it in previous financial-disclosure forms.

It also refused to say how Rangel could have failed to include two plots of land that he owned, how long Rangel has owned the Glassboro property, or how he acquired it.

The unreported assets come amid a House Ethics Committee investigation into a host of Rangel’s questionable financial dealings.

The man has a lot on his mind.

After all, he is in charge of deciding how much of the rest of us should give to those with less.

This article was posted by Steve on Wednesday, August 26th, 2009. Comments are currently closed.

16 Responses to “Rangel Remembers $780K More Assets”

  1. GL0120 says:

    I can’t help but wonder what a real audit of his finances would turn up?
    How can the Democrats be trusted with the economy or anything else for that matter when they can’t remember to pay taxes or how much they’re actually worth?
    What a treat it would be if I had $780K to forget. What a prison term I’d likely get for having forgotten it!

  2. ilzito guacamolito says:

    ~ The unreported assets included one of Rangel’s most valuable holdings — a checking account at the Congressional Federal Credit Union containing somewhere between $250,000 and as much as $500,000, according to the revised form released yesterday. The forms include only ranges of value and not specific amounts. ~

    Is this the House banking/check kiting scandal rearing its ugly head again?

  3. proreason says:

    This criminal has “forgot” many times $780K in assets.

    He is immune from punishment for his life of financial crimes. He’s a black politician.

    He would have to kill somebody in plain sight or sell dope to an FBI agent to actually get caught for a crime…and even then, it would be difficult to convict him.

    Rangel is actually one of my favorite black politicians. He’s such an amusing mental midget and he isn’t nearly as vindictive as the Maxine Water’s types. For some reason, I don’t believe he’s a murderer or a pervert, and his financial crimes are to be expected. The booty collected by corrupt black politicians is one of the many forms of reparations we pay for a small % of our ancestors cruelly taking advantage of some of the ancestors of African Americans. The Africans who sold those ancestors into slavery are, of course, exempt from punishment, and even exempt from having their crimes acknowledged. And we can be assured that these Reparation Criminals are too stupid to keep their fortunes for more than a generation.

    • wardmama4 says:

      But Proreason – You and obviously the ‘chip on the shoulder – original sin’ Blacks and their ‘scared to be called racist’ white enablers are forgetting the 620,000 Americans who died to bring an end (or so all the US historians are claiming that was what the Civil War was about) to the original sin. . .But that number does not include of course all the abolitionists who had been working for decades to stop slavery. Nor does it even acknowledge that the importation of slaves was banned on 1 January 1808. Thus there were only 189 years (1619 – 1808) of slave importation and 201years (1808 – 2009) of non-slave importation and 144 years (1865 – 2009) of emancipation – i.e. freedom. None of this is ever taught/mentioned in the screeds of the left.

      And with Social Security, Welfare, WIC, Medicaid, Medicare and of course Affirmative Action (not to mention ACORN, Fannie Mae & Freddie Mac) and so on and so on – America has been paying reparations since the 30s –

      As Rush says – Ignorance is the most expensive commodity in America today – and it is destroying us.

  4. Liberals Demise says:

    Why isn’t this criminal calling bingo Saturday nights at the Federal Penitentiary?
    I’m getting wee wee’d off!!

  5. Gila Monster says:

    “His office said Rangel is all paid up on his taxes.”

    Uhhh, …yeah, …right, and I have 500 acres of oceanfront property for sale here in Arizona.

  6. Right of the People says:

    Oh yeah, I forgots about dat udder monies, they was in my udder coat. We all good now.

  7. Laree says:

    I can’t remember did Charlie Rangel call for Imus to be fired too?

    Imus’s last day on RFD TV is this friday. The word is he is moving to Fox Business Channel. He will be on opposite his old time slot on MSNBC. This should be fun. MediaMattersForAmerica was monitoring Imus- see how he got fired from MSNBC. Looks like Imus will be keeping MMFA busy along with Glenn Beck.


  8. catie says:

    Man, I wish I had that much money I could forget about. Sheesh, must be nice.

  9. Helena says:

    Gotta love the IRS. The computer tax programs have you watch out for things that cause “flags” – which raise your audit probability. Can we agree that being on the committee that WRITES TAX LEGISLATION should be the reddest flag there is, and get you automatically audited every year you’re on said committee? Simply as a gesture of good faith to the American people? And with a fine toothed comb.

    And who keeps *at least* $250,000 in a (non-interest earning, or practically non) checking account?

  10. Chuckk says:

    It doesn’t matter what Rangel has done. The House will do nothing and he will be re-elected every time he runs.

  11. pagar says:

    The US House has an ethics committee–Who knew? Looks like they would need to meet 24 hours a day. Wouldn’t voting to pass a bill that they hadn’t read be a ethics violation? Isn’t Rangel one of the ones who says they don’t need to read them?

  12. Colonel1961 says:

    UPDATE: he has not paid taxes on the two newly revealed properties in years…

  13. the cyber ghost says:

    hahaha…He holds all the Credentials to WALK. No story here

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