Aug 31, 2012

$17 Million Man Danny Tarkanian Plays By a Different Set of Rules

When a judge ordered him to pay $17 million in debts from a failed real estate deal, Republican congressional candidate Danny Tarkanian (NV-04) refused, but he has happily pumped hundreds of thousands of dollars into his political campaign. Tarkanian said posting bond during the appeal process would bankrupt him, but his campaign forgave over $250,000 in personal loans, and he loaned his congressional campaign another $40,000.

"Like the Wall Street bigwigs who got us into this economic mess, Danny Tarkanian thinks he should get to play by a different set of rules than the rest of Nevadans," said Amber Moon of the Democratic Congressional Campaign Committee. "How can voters trust Danny Tarkanian to be responsible with their tax dollars when getting elected is a higher priority than paying bills he's been court-ordered to pay?"

Background

Tarkanian Sought to Have the $17 Million Judgment Against Him Set Aside. In May 2012, a judge ordered Tarkanian to pay $17 million for a failed real estate deal. In June 2012 the bank filed a legal document asking federal marshals to enforce the $17 million judgment. In July 2012 Tarkanian’s lawyer filed a brief accusing the bank and others of fraud. In August 2012, Tarkanian sought to have a $17 million judgment against him from the Federal Deposit Insurance Corporation set aside. [Las Vegas Review-Journal, 5/30/12; Las Vegas Sun, 8/1/12]

Tarkanian Said He Didn’t Expect to Win $17 Million Judgment Against Him. In 2012, Tarkanian said he didn’t expect to win a reversal of the $17 million judgment against him. He was hoping to win an appeal of his case. “We have almost zero chance of winning this legal stuff,” Tarkanian said during an interview with the editorial board of the Las Vegas Review-Journal. [Las Vegas Review-Journal, 8/7/12]

Tarkanian: If I have to post a bond against $17 million judgment, I’ll probably go bankrupt. In August 2012, Tarkanian argued that he and his family were “incapable” of obtaining a bond against a $17 million judgment because he would go bankrupt. It was reported the “Tarkanians are incapable of obtaining a bond that would set aside the award while they pursue an appeal.” [Las Vegas Sun, 8/1/12; Las Vegas Review-Journal, 8/14/12]

Tarkanian Leant Himself $40,000 and Forgave a $250,000 Loan. In 2012, Ralston reported that Tarkanian “leant himself $40,000 for the campaign and forgave a $250,000 loan.” [FEC.gov, Loan Information, Danny Tarkanian for Congress, filed 7/15/12; FEC.gov, Receipts, Danny Tarkanian for Congress, filed 7/15/12; Las Vegas Sun, 8/14/12]

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