Charlie Rangel Failed To Disclose Millions In Income, Business Transactions
Rep. Charles Rangel failed to report as much as $1.3 million in outside income — including up to $1 million for a Harlem building sale — on financial-disclosure forms he filed between 2002 and 2006, according to newly amended records.
The documents also show the embattled chairman of the Ways and Means Committee — who is being probed by the House Ethics Committee — failed to reveal a staggering $3 million in various business transactions over the same period.
This week, Rangel filed drastically revised financial-disclosure forms reflecting new, higher amounts of outside income and numerous additional business deals that had not been reported when the reports were originally filed.
In 2004, for instance, Rangel reported earning between $4,000 and $10,000 in outside earnings on top of his $158,100 congressional salary. But the amended filings show that after the sale of a property on West 132nd Street, his outside income that year was somewhere between $118,000 and $1.04 million.
The forms filed by House members provide for a range of value on such transactions, so the precise number isn’t publicly known.
Rangel also lowballed his income by as much as $70,000 in 2002, $46,000 in 2003 and $117,000 in 2006, records show. Only in 2005 did Rangel reveal his total outside income.
Members of Congress are required to disclose all their assets and outside income in an effort to expose possible undue influences. Rangel’s office insists the Harlem Democrat did not conceal any outside income from the IRS and is paid up on his taxes.
The Post revealed yesterday that Rangel is in arrears on New Jersey property taxes — for property that for more than 15 years he failed to disclose to Congress and the public.
Another area of wide discrepancy in his financial-disclosure forms is where he’s required to list financial transactions. Every year between 2002 and 2007, Rangel failed to include all his deals for the year, according to records.
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