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Danny Tarkanian

Danny Tarkanian

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Published by: americanbridge on Aug 01, 2012
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DANNY TARKANIAN
 
Danny Tarkanian has become a perennial failed candidate: he has run for office three times in the past eight years and lost every time. This isn’t surprising, as Tarkanian’s numerous ethical issues make him unelectable. Among other things, Tarkanian is currently under a $17 million judgment, handed down by a federal judge for Tarkanian’s role in a bad property deal. Tarkanian has also had multiple inaccuracies on his FEC reports, was repeatedly delinquent in  paying property taxes and was sanctioned by the Nevada Supreme Court for signing a legal document even though he wasn’t an active member of the Bar. During the 2010 Senate race, Tarkanian staked out far-right views on immigration reform and campaigned with Minuteman Project founder Jim Gilchrist. Radio and television host Glenn Beck called Tarkanian a “Tea Party radical,” a designation that Tarkanian bragged about on the campaign trail.
Frequent Candidate
2004: Tarkanian Was Defeated In His Race For Nevada State Senate By A Vote Of 53.75% To 46.25%.
According to the Nevada Secretary of State, Tarkanian lost his campaign for NevadaState Senate in Clark District 11 to Democrat Mike Schneider by a vote of 53.75% to 46.25%.[Nevada Secretary of State, 2004 Official General Election Results,11/2/04 ]
2006: Tarkanian Was Defeated In His Race For Nevada Secretary Of State By A Vote Of 48.73% To 40.57%.
 According to the Nevada Secretary of State, Tarkanian lost his campaign forNevada Secretary of State to Democrat Ross Miller by a vote of 48.73% to 40.57%. [NevadaSecretary of State, 2006 Official Statewide General Election Results,11/7/06 ]
2010: Tarkanian Was Defeated In His Race For U.S. Senate After Coming In Third In TheRepublican Primary With 23.3% Of The Vote.
According to the Nevada Secretary of State, Tarkanian lost his campaign for U.S. Senate after coming in third in the Republican primary with23.3% of the vote. [Nevada Secretary of State, 2010 Official Statewide General Election Results,6/8/10 ]
Ethical Issues
DIAMOND PROPERTIES
2007: Real Estate Investor Robert Dyson Approached Tarkanian To Guarantee A Loan FromLa Jolla Bank For $14.5 Million, Which Would Then Be Loaned To Dyson At A Higher
 
Interest Rate.
According to the Las Vegas Review-Journal, “Court documents state Dysonapproached Tarkanian in early 2007 through a mutual associate, Doug Johnson of JohnsonInvestments, and another plaintiff in the case. Dyson wanted a loan from Vegas Diamond andoffered as collateral a development in progress near Anza in Riverside County, Calif. He arranged for Tarkanian to get a loan from La Jolla Bank for $14.5 million which would then be loaned to Dyson ata higher rate of interest after about $2 million was used to pay another note on the Vegas Diamondproperty, Tarkanian said.” [Las Vegas Review-Journal, 1/23/10]
 After Dyson Defaulted On The Loan, La Jolla Bank Sought To Foreclose On Tarkanian’s Vegas Diamond Property.
According to the Las Vegas Review-Journal, “After Dyson couldn'tmake good on his obligations, La Jolla sought to foreclose on the Vegas Diamond Property, about 9acres near the M Resort, Tarkanian said.” [Las Vegas Review-Journal, 1/23/10]
2010: Tarkanian Sued La Jolla Bank In An Attempt To Block The Foreclosure.
According tothe Las Vegas Review-Journal, “U.S. Senate candidate Danny Tarkanian is embroiled in a lawsuit toblock foreclosure on family-owned property he once viewed as a retirement investment. Tarkanian, aRepublican seeking to challenge Sen. Harry Reid, D-Nev., is among plaintiffs who filed suit Jan. 8 inClark County District Court against La Jolla Bank and Action Foreclosure Services of California.”[Las Vegas Review-Journal, 1/23/10]
 The Lawsuit Claimed Dyson And La Jolla Bank Worked Together To Defraud Tarkanian.
  According to the Las Vegas Review-Journal, “The lawsuit alleges the bank worked in concert withreal estate investor Robert A. Dyson Jr., who it said defaulted on a $12.5 million loan made through Vegas Diamond Properties, a company owned jointly by Tarkanian and about a dozen other family members… The lawsuit seeks to block the foreclosure on the grounds La Jolla knew Dyson wasstretched too thin but made the loans anyway without telling the other parties involved. ‘Because of the close connection between Mr. Dyson and La Jolla Bank, La Jolla Bank was well aware of theperilous web created by Mr. Dyson in which it aided Mr. Dyson,’ the lawsuit states.” [Las VegasReview-Journal, 1/23/10]
La Jolla Bank Failed And Was Taken Over By The FDIC.
According to the Las Vegas Review- Journal, “In 2010, the Tarkanians sued La Jolla Bank to block it from foreclosing on the property,used as collateral for a $14.6 million loan in 2007 as part of the soured California real estate deal. Thebank later failed and was taken over by the Federal Deposit Insurance Corp., apparently leaving the Tarkanians with little legal recourse.” [Las Vegas Review-Journal, 5/31/12]
2012: A U.S. District Court Judge Filed A Judgment Against Tarkanian For Almost $17Million; Tarkanian Promised To Appeal.
According to KTNV, “Republican congressionalcandidate Danny Tarkanian says that he is planning to file an appeal related to the almost $17 millionjudgment against him and his family. The judgment was signed May 21 by U.S. District Judge William Hayes in a San Diego court.” [KNTV,5/31/12 ]
 The FDIC Foreclosed On The Tarkanian Family Property Worth $3 Million; The FamilyCould Have To Pay The Difference Between $3 Million And $17 Million.
According to the Las Vegas Review-Journal, “Tarkanian's attorney, Gus Flangas, said the FDIC foreclosed on the family property in 2011, placing its value at $3 million. The Tarkanians could be on the hook to make upthe difference of the $17 million judgment if they don't win an appeal to the 9th Circuit or if they don't settle with the FDIC.” [Las Vegas Review-Journal, 5/31/12]
 Tarkanian Said He Should Have “Put A Microscope” On The Deal.
According to the Las Vegas Sun, “In hindsight, Republican congressional candidate Danny Tarkanian should have “put amicroscope” on a 2007 land deal that went bad and has now left him and his family on the hook for
 
a $17 million judgment, his lawyer said Wednesday…The judgment is the result of more than twoyears of legal wrangling over the deal that bankrupted both the original developer, Robert Dyson,and La Jolla Bank, which financed most of the deal. Unfortunately for them, the Tarkanian family,and their partners Doug and Debra Johnson, appear to be the only ones left standing for the FDICto go after.” [Las Vegas Sun,5/31/12 ]
 Tarkanian Primary Candidate Dan Schwartz: “I Don’t See How You Can Conduct A SeriousCampaign, Let Alone Be A House Member, With A $17 Million Judgment Hanging Over You.”
According to the Associated Press, “Despite the uneven odds, Republicans Barbara Cegavske,Dan Schwartz and Danny Tarkanian all argue they can emerge victorious against Horsford if they survive the primary. The district stretches across Clark, Esmeralda, Lincoln, Lyon, Mineral, Nye and White Pine counties… Last month a federal judge in California signed a $17 million judgment against Tarkanian and his family from a failed real estate deal. The judgment involves a $14.6 million loan Tarkanian and others guaranteed for a developer through a family-owned businesses, VegasDiamond Properties. The developer later filed for bankruptcy and the bank that made the loan, La Jolla Bank, was taken over by the Federal Deposit Insurance Corp. ‘I don't see how you can conducta serious campaign, let alone be a House member, with a $17 million judgment hanging over you,’Schwartz said. ‘Truthfully, prior to that, we were optimistic, but not hugely. But I think that has beena game changer.’” [Associated Press, 6/9/12]
PROPERTY TAX PROBLEMS
 Tarkanian Paid Over $23,000 In Back Taxes, Interest, Penalties And Fees From 1992 Through 2001.
According to the Las Vegas Review-Journal, “In the end, Tarkanian and his realestate partners paid more than $23,000 in back taxes, interest, penalties and fees from 1992 through2001, according to Clark County records.” [Las Vegas Review-Journal, 5/20/12]
 Tarkanian Was Delinquent On Taxes For One Property For Five Years.
According to the Las Vegas Review-Journal, “During that decade of go-go real estate speculation, Tarkanian and thecompanies he was associated with didn't always pay property taxes on time, becoming delinquent forone to five years and forcing Clark County authorities to hold at least a dozen parcels until the bills were paid.” [Las Vegas Review-Journal, 5/20/12]
 Tarkanian’s Business Partner Paid $6,216.78 In Delinquent Property Taxes, Interest,Penalties And Fees On Five Of Seven Parcels He Owned With Tarkanian.
According to theLas Vegas Review-Journal, “Bentar Limited Partnership is an example of Tarkanian being aninvestment partner and resident agent for a real estate company he formed with close friend Amador‘Chi Chi’ Bengochea . Neither Tarkanian nor Bengochea could recall being late on property taxpayments in the early 1990s, although records show Bentar in 1993 paid $6,216.78 in delinquentproperty taxes, interest, penalties and fees on five of seven parcels Clark County held until the bills were paid. Four of the parcels were two years late, and one parcel was three years late on property taxes, records show.” [Las Vegas Review-Journal, 5/20/12]
 Tarkanian Paid $3,242.96 In Late Taxes, Interest, Penalties And Fees On Four Parcels That Were Delinquent For The Year 1999-2000.
According to the Las Vegas Review-Journal,“Tarkanian wholly owned JAMD Inc., so he was directly responsible for paying taxes on property thecompany owned. Records show that in September 2000 he paid $3,242.96 in late taxes, interest,penalties and fees on four parcels that were delinquent for the year 1999-2000.” [Las Vegas Review- Journal, 5/20/12]

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