Original Financial Disclosure Original Tax Returns Amended Financial Disclosure Amended Tax Returns
1998 None Not repOlted $5,001 -$15,000 N/A
1999 None Not reported $2,501 -$5,000 N/A
2000 None per letter amendment Not reported $2,501 -$5,000 N/A
2001 $5,001 -$15,000 Not repOlted $2,501 -$5,000 N/A
2002 $5,001 -$15,000 Not reported $2,501 -$5,000 N/A
2003 $5,001 -$15,000 Not reported $1,001 -$2,500 N/A
2004 $2,501 -$5,000 Not reported $5,001 -$15,000 $5,030
2005 $2,501 -$5,000 Not reported $5,001 -$15,000 $6,280
2006 None Not repOlted $5,001 -$15,000 $8,467
2007 None $7,800 $5,001 -$15,000 $7,800 "
135. Respondent earned income from IRA disttibutions in the following amounts:
Year Source Amount
1998 Congressional FCU IRA $13,333
2000 Congressional FCU IRA $6,144
2001 Congressional FCU IRA $8,693
Menill Lynch IRA $4,235
2002 Congressional FCU IRA $4,177
2004 Congressional FCU IRA $4,438
2005 Congressional FCU IRA $4,486
2006 Congressional FCU IRA $4,187
2007 Congressional FCU IRA $5,509
2008 Congressional FCU IRA $4,893
136. Respondent failed to disclose numerous assets and sources ofunearned income on his original Financial Disclosure statements for calendar years 1998 through 2007, including,
inter alia: 1) Respondent failed to disclose his holdings at Congressional Federal Credit Union ("CFCU") for calendar years 1998, 1999, 2000, 2004, 2005, 2006, and 2007. Respondent disclosed his holdings for the years 2001, 2002, and 2003, but estimated the value of the accounts in the range of $15,001-$50,000. The holdings at CFCU were, in fact, valued in the range of $100,001 -$250,000 for calendar years 1998 through 2006, and valued in the range of $250,001 -$500,000 for calendar year 2007. Respondent reported eamings related to the CFCU accounts on his Federal income tax retums for each ofcalendar years 1998 through 2007. 2) Respondent failed to report holdings of stocks in corporations in various years including, inter alia, Bell Atlantic, BellSouth, Niagara Mohawk Holdings, Verizon Communications, PepsiCo, and Yum! Brands. Respondent reported earnings related to certain stock transactions on his related Federal income tax returns. For example, Respondent reported a capital gain associated with the sale of stock in BellSouth
Corporation on his 1998 tax retUTIl. Respondent's amended Financial Disclosure statements repolted the following valuations for the stocks listed above:
Bell Atlantic BellSouth Niagara Mohawk Holdings Verizon Comm PepsiCo Yum! Brands
1998 $15,001 -$50,000 None (sold in 1998) $1,001 -$15,000 N/A N/A N/A
1999 $15,001 -$50,000 N/A $1,001 -$15,000 N/A $1,001 -$15,000 N/A
2000 N/A N/A $1,001 -$15,000 $15,001 -$50,000 $1,001 -$15,000 N/A
2001 N/A N/A $1,001 -$15,000 $1,001 -$15,000 $1,001 -$15,000 N/A
2002 N/A N/A N/A N/A $1,001 -$15,000 N/A
2003 N/A N/A N/A N/A $1,001 -$15,000 N/A
2004 N/A N/A N/A N/A $1,001 -$15,000 N/A
2005 N/A N/A N/A N/A $1,001 -$15,000 N/A
2006 N/A N/A N/A N/A $1,001 -$15,000 $1,001 -$15,000
2007 N/A N/A N/A N/A $15,001 -$50,000 $1,001 -$15,000
3) Respondent failed to report holdings of mutual funds in various years including, inter alia, Alliance MWlicipal Income Fund, Rochester Municipal Fund, ING Principal Protection Fund, and iShares Dow Jones Select Dividend Income Fund. Respondent reported eamings related to certain mutual fund holdings on his cOlTesponding Federal income tax return. For example, Respondent repOlted a capital gain related to his holdings in the ING Principal Protection Fund on his 2007 tax return. Respondent's amended Financial Disclosure statements reported the following valuations for the mutual funds listed above:
Alliance Alliance Rochester ING iShares
Municipal Municipal Municipal Principal Dow
Income Income Fund Protection Jones
Fund! Alliance Fund (B) Fund Select
Bernstein (A) Dividend Income Fund
1998 N/A $1,001 -$15,000 $15,001 -$50,000 N/A N/A
1999 $1,001 -$15,000 $1,001 -$15,000 $15,001 -$50,000 N/A N/A
2000 $1,001 -$15,000 $1,001 -$15,000 $15,001 -$50,000 N/A N/A
2001 $1,001 -$15,000 $15,001 -$50,000 $15,001 -$50,000 N/A N/A
2002 $50,001 -$100,000 $50,001 -$100,000 $15,001 -$50,000 $50,001 -$100,000 N/A
2003 $50,001 -$100,000 $50,001 -$100,000 $15,001 -$50,000 $50,001 -$100,000 N/A
2004 $100,001 -$250,000 $50,001 -$100,000 $15,001 -$50,000 $50,001 -$100,000 $15,001 -$50,000
2005 $100,001 -$250,000 $50,001 -$100,000 $1,001 -$15,000 $50,001 -$100,000 $15,001 -$50,000
2006 $100,001 -$250,000 $50,001 -$100,000 $15,001 -$50,000 $50,001 -$100,000 None
2007 $100,001 -$250,000 $50,001 -$100,000 $15,001 -$50,000 $50,001 -$100,000 N/A "
4) Respondent failed to disclose his holdings in Merrill Lynch Allianz Global Investors Fund for calendar years 2006 and 2007. The holding was purchased in 2006 with a value in the range of$250,001 -$500,000.
5) Respondent failed to disclose his ownership of vacant lots in New Jersey for calendar years 1998 through 2007. Respondent's amended Financial Disclosure statements for calendar years 1998 through 2007 reported the lots with a valuation in the range of$I,OOI -$15,000.
137. Respondent failed to disclose numerous transactions on his original Financial
Disclosure statements for calendar years 1998 through 2007, including, inter alia: 22
1) Respondent failed to disclose the sale of holdings in BellSouth in the amount of $6,709 in 1998. Respondent did report a capital gain in the amount of$2,738 related to that transaction on his Federal income tax retunl for 1998.
2) Respondent failed to disclose the purchase in 2002 of holdings in ING Principal Protection in the range of$50,001 -$100,000.
3) Respondent failed to disclose the purchase and sale during 2004 of Calve1i Tax Free Reserves, Eaton Vance Insured New York Municipal Bond Fund, and Nuveen New York Quality Income Municipal Fund. Each of those transactions was valued in the range of$50,001 -$100,000.
4) Respondent failed to disclose the purchase and sale in 2006 of Men'ill Lynch Institutional Tax-Exempt Fund in the range of$250,001 -$500,000.
1. In September 2008, Respondent filed amended Federal income tax returns for tax years 2004 tln'ough 2006.
2. Respondent snbsequently filed a second amended Federal income tax return for 2006 and an amended Federal income tax return for 2007.
3. Amendments to Respondent's Federal income tax returns were necessary to correct errors in the original income tax returns, including failure to report the income related to Punta Cana and failure to report other items of income.
4. Respondent disclosed that he was a member of the Board of Directors of "the Kheel Foundation" or "the Atm Kheel Foundation" on his Financial Disclosure statements for calendar years 1998 through 2007.
5. Respondent did not disclose on his original Financial Disclosure Statement for calendar year 2008 that he was a trustee of the Ann S. Kheel Charitable Trust for calendar year 2008.
143. Respondent remained a trustee ofthe Aml S. Kheel Charitable Trust during 2008.
144. Respondent has not filed an amended Financial Disclosure Statement for calendar
year 2008.
III. RENTAL OF LENOX TERRACE APARTMENT UNIT IOU FOR CAMPAIGN PURPOSES
1. The Olnick Organization ("Olnick") is a developer of residential, commercial and hotel properties in New York City.
2. The Olnick Organization's properties include the Lenox Terrace apartment complex and other properties in Respondent's congressional district and elsewhere throughout New York City.
3. The Hampton Management Company ("Hampton") is the propeliy management company for Lenox Terrace. Hampton is an affiliate of Olnick.
4. In November 1988, Respondent signed a lease for the use of apartment 16N-P in the Lenox Terrace apartment complex.
5. In January 1997, Respondent signed a lease for the use of apartment 16M in the Lenox Terrace apaJiment complex.
6. Respondent signed an application for the use of apartment IOU in the Lenox Terrace apaJiment complex ("apartment IOU") indicating that his son, Steven Rangel, would occupy the apaJiment.
7. In October 1996, Respondent signed a lease for the use of apartment IOU in the Lenox Terrace apartment complex.
152. Apartment IOU was a rent stabilized apartment unit.
153. The lease for apartment IOU states, "You shall use the Apartment for living purposes only."
154. Steven Rangel never occupied apatiment IOU for living purposes. ISS. Respondent never occupied apartment IOU for living purposes.
1. Respondent's principal campaign COllli11ittee, Rangel for Congress, and leadership PAC, National Leadership PAC, occupied aparhnent IOU as at1 office £i'om November 1996 until October 2008.
2. Respondent did not enter into any written sublease with Rangel for Congress or National Leadership PAC.
3. No individual occupied apatiment IOU for living purposes from November 1996 tln'ough October 2008.
4. There is no evidence that the management of Lenox Tenace permitted the use of any other rent stabilized apatiments in the complex for solely non-residential purposes above the first floor.
5. In 2004, Olnick increased the number of legal actions it brought against tenants on primary residency, including those who improperly sublet their rent stabilized apartments.
6. Olnick brought no action against Respondent for the non-residential use of apartment IOU.
7. Respondent was included by Olnick on a "special handling list" on which he was identified as a Member of Congress.
8. Respondent's congressional office received complaints from constituents living in Lenox Terrace regarding legal actions brought against them by Olnick based on primary residency.
9. Respondent's staff, including his District Director, James Capel, worked with Lenox Terrace management to resolve constituent issues related to primary residency.
10. Lenox Terrace tenants discussed going on strike by refusing to pay rent until certain conditions were satisfied.
166. Capel met with a Lenox Terrace official regarding the potential rent strike.
167. In 2005, Respondent and his staff met with Olnick executives at least once regarding proposed construction projects for Lenox Terrace and other Olnick developments.
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