Friday, September 5, 2008

Rangel: They Got Me

Rep. Charles Rangel (D) of New York who is chairman of the powerful House Ways and Means Committee admitted that he earned more than $75,000 of undeclared income from a Dominican Republic villa, after NyPo reported the possibility in an exclusive report earlier this week.

Someone has been sniping at Rangel, as only weeks ago the New York Times detailed the four rent controlled apartments he rents at far below market prices.

Rangel has owned the villa at the Punta Cana Yacht Club for 20 years, yet only sporadically declared income to Congress, and never reported it on his federal or state tax returns, his lawyer said, according to NyPo.

Rangel's lawyer says disclosure forms will be refiled for a number of years. Filing a false disclosure form can result in civil penalties and a possible five-year prison sentence.

Rangel is 78 years old.

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