Renzi Pays Back Taxes; FEC Drops Probe

[Eugene]

Source: Associated Press

Renzi Pays Back Taxes; FEC Drops Probe
By JIM KUHNHENN
Associated Press Writer

May 1, 2007, 7:00 PM EDT

WASHINGTON -- Arizona Rep. Rick Renzi avoided federal
campaign penalties by paying $323,830 in back taxes last
year to reassure regulators that loans to his political
committee came from his own pocket.

The Federal Election Commission, in documents made public
Tuesday, said it decided to take no further action against
Renzi regarding the source of the loans to his 2001-2002
congressional campaign.

Renzi, a Republican, did agree to pay a $25,000 fine for
unrelated reporting violations during that election cycle.

The congressman, who has been drawn into an FBI
investigation of an Arizona land deal, completed a
conciliation agreement with the FEC on Jan. 10, but it
was only made public now.

-snip-

Read more: http://www.newsday.com/news/politics/wire/sns-ap-renzi-fec,0,5488083.story

[maddezmom]

1. New federal report on campaign funds adds to Renzi woes

New federal report on campaign funds adds to Renzi woes
MIKE MADDEN
Gannett News Service

WASHINGTON - Rep. Rick Renzi paid hundreds of thousands of dollars in back taxes to settle charges that his businesses improperly funded his first campaign for office, according to documents released by federal regulators Tuesday.
The Arizona Republican already faces a federal corruption probe - as well as a growing political crisis - over allegations he tried to use legislation for land swaps in Arizona to help a former business partner.
But Tuesday's disclosure by the Federal Election Commission threatens to revive the older scandal over whether Renzi broke campaign finance laws when he was first elected in 2002, adding to doubts about his political future.
The FEC alleged three years ago that Renzi loaned his 2002 campaign corporate money. The documents released Tuesday show regulators dropped that charge after Renzi presented them with proof he had paid more than $320,000 in federal and state back taxes on income he had not previously reported. That indicated that personal funds, not his businesses, were the source of the loan.
The new documents also show Renzi's campaign agreed to pay the FEC $25,000 in January because he misreported campaign contributions and expenses in 2002.

more:http://www.tucsoncitizen.com/ss/local/50262.php

[StarryNite]

3. They had better not drop this.

What total bullshit if they do. It was bad enough that they postponed the investigation until after the election.

[maddezmom]

2. Renzi faced cash squeeze

Renzi faced cash squeeze
By Alexander Bolton
May 02, 2007
Rep. Rick Renzi (R-Ariz.) took out a $500,000 second mortgage on his Flagstaff home in January after paying more than $300,000 in tax arrears discovered by a Federal Election Commission (FEC) investigation.

The mortgage loan, revealed by Renzi in a document filed with Coconino County, Ariz., is worth the highest possible listed value of his house, and suggests the embattled lawmaker may have faced a substantial cash squeeze at the end of the last Congress.



It may also cast light on $200,000 that came to Renzi two years ago from a business partner. The money exchange has raised eyebrows and suggestions of impropriety.

Around the time Renzi accepted the payment, the FEC launched an investigation of his campaign finances, forcing the lawmaker and his wife to pay an extra $324,000 in federal and state taxes.

The FEC launched its investigation in May 2005 and informed two businesses linked to Renzi of the probe later that month. That same month, James Sandlin, a former business partner, gave Renzi $200,000, a payment now being investigated by the FBI, according to The Wall Street Journal.

Renzi’s lawyer has said Sandlin gave Renzi the money to settle a business debt. But ethics experts interviewed by The Hill last week said the lawmaker should have disclosed it on forms filed with the Clerk of the House. The fact that Renzi did not report the payment could be cited as evidence that he intended to conceal it, said one expert.

more:http://thehill.com/leading-the-news/renzi-faced-cash-squeeze-2007-05-01.html

[maddezmom]

4. Renzi claims he is a victim of a smear campaign by DOJ

Congressman Renzi breaks silence on FBI investigation
District 1 Congressman Rick Renzi spoke exclusively to 12 News about a federal investigation of his office
Joe Dana
12 News
May. 1, 2007 12:17 PM

Joe Dana's Blog
EXCLUSIVE INTERVIEW: Rick Renzi breaks his silence in interview with 12 News

(Capitol Hill) – District One Congressman Rick Renzi (R-AZ) took the offensive today in his first interview on an FBI investigation into whether he misused his office in an Arizona land deal. Despite speculation, Renzi says he won't be resigning. Instead, the congressman says he is considering whether he will run for a fourth term.

Renzi tells 12 News that he is the victim of a smear campaign by the U.S. Department of Justice and says he’d welcome an independent investigation into his actions. advertisement




In October of 2006, with Renzi weeks away from re-election, media outlets reported he was the target of a federal probe for allegedly using his influence to benefit a friend in a 2005 land negotiation. The New York Times also reported that Renzi was being investigated for sponsoring legislation that benefited his father financially. Some reports speculated that Renzi faced possible criminal indictments. Renzi says the reports were based on “leaks” by federal employees he says are lying.

more:http://www.azcentral.com/12news/news/articles/renzi05012007-CR.html

[classysassy]

5. If justice

is truly blind,there would be a "whole lot of shaking going on", the republican crooks would be shaking the bars in their cells.