http://www.dailykos.com/storyonly/2006/8/13/211357/368Gary Miller (R-CA 42) LA Times: Republican Congressman Steals Millions in Land Deals
The LATimes is reporting that U. S. Rep Gary Miller has avoided paying millions on real estate profits by lying to the IRS. Apparently, he sold 165 acres of land to the city of Monrovia and told the IRS that Monrovia had forced him to sell the property under threat of eminent domain. This would allow him to shelter the profits from capital gains for more than two years before reinvesting the money.
There is just one small problem: Monrovia officials deny threatening to force the sale and say that he sold the land willingly! Uh-oh! Those IRS guys can be a nasty lot.
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Miller also claimed the same exemption in 2 subsequent Fontana, CA property transactions. This allowed him to continue to shelter his profits from the Monrovia sale. And . . . what a coincidence!!! the purchasers say that eminent domain was neither used nor threatened.
For those of you unfamiliar with the Honorable Mr Miller, he is a multimillionaire land developer in the Inland Empire area of California. This area includeds: Riverside, San Bernardino, Redlands, Moreno Valley, Fontana and a lot of smaller little towns. The area is quite red. And, Miller has been considered quite safe in his district. He is a senior member of the House Transportation and Infrastructure Committee. His repeated use of the forced-sale exemption has enabled him to defer capital gains taxes through 2009. Another graduate of the Denny Hastert School of Enriching oneself through shady real estate deals.
-snip- lots more with links
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may he rot in prison