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Reid 2002 land purchase questioned
By UPI Staff
United Press International
January 30, 2007
BULLHEAD CITY, Ariz. (UPI) -- Senate Majority Leader Harry Reid purchased 60 acres of land in northern Arizona from a pension fund at a price experts say constituted an extremely good deal.
The land was sold to Reid, D-Nev., for $10,000 in 2002 by Las Vegas lubricants distributor Clair Haycock, a friend who controlled the employee pension fund that owed it, The Los Angeles Times reported.
The purchase put Reid in full control of a 160-acre parcel in Bullhead City, Ariz.
Six months after the deal closed, Reid introduced legislation to address the plight of lubricants dealers who had their supplies disrupted by the decisions of big oil companies, the Times said.
The purchase is a potential violation of congressional ethics standards, which prohibit members from accepting anything of value from a person with interests before Congress.
Reid's spokesman Joe Summers told the Times the transaction was not a gift and that the price of the property was due to its history and was unrelated to the action on the lubricants issue.
Copyright 2007 United Press International, Inc. All Rights Reserved
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