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]