September 16th, 2008
12:18 PM ET
8 years ago

Rangel promises independent investigation of finances

Rep Charlie Rangel plans to hire forensic accountants to investigate his finances.

Rep Charlie Rangel plans to hire forensic accountants to investigate his finances.

WASHINGTON (CNN)–A lawyer for Rep. Charlie Rangel, the chairman of the House Ways and Means Committee, said Monday that the powerful New York Democrat would hire forensic accountants to investigate his financial statements that span two decades.

Lanny Davis said the firm, which has yet to be hired, would review Rangel’s tax returns and other financial documents over the last 20 years and compile a report on any financial improprieties or back taxes the chairman owed. Rangel would pay any back taxes he owed with penalties and would wave the normal three-year statute of limitations, Davis said.

The firm will send its report on Rangel’s finances directly to the House Ethics Committee, which is looking into Rangel’s finances after questions were raised about some real estate transactions. Rangel has admitted he owes $5,000 in back taxes after he failed to report income from a rental property in Florida, according to the Associated Press.

Davis said Rangel said asked for the independent investigation because “he never meant to conceal” his finances.

“He wanted to show in as many ways he has possibly could, that he did not do anything intentionally wrong,” Davis said.

Despite news reports, Rangel was not pressured by Speaker Nancy Pelosi to step down from his chairmanship while the investigation into his finances was underway, Davis said.

“Indeed, the speaker told Mr. Rangel that she was pleased that Mr. Rangel had initiated an investigation of himself with full transparency,” Davis said.

Filed under: Charlie Rangel
soundoff (92 Responses)

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    September 16, 2008 02:21 pm at 2:21 pm |
  2. Sacto Joe


    Where's the discussion on the failure of the Bush/Cheney Administration to protect the economy?

    Where's the discussion on Senator McCain's failure to understand the economy's problems?

    Where's the discussion on the utter ignorance of Governor Palin when it comes to the U.S. economy?

    September 16, 2008 02:22 pm at 2:22 pm |
  3. Brendan H., San Antonio, TX

    And this is important, why?

    Why don't we investigate Bush's Harken stock dumping?

    September 16, 2008 02:22 pm at 2:22 pm |
  4. Barbara - NC

    Yeah – we've heard that before. Wasn't it Palin (R) that said she would cooperate also?

    If they are in office, boot them out.

    If they are NOT in office, do NOT put them in.

    Vote the incumbents out, and screen the potentials within a millimeter of their lives.

    Obama/Biden '08

    September 16, 2008 02:27 pm at 2:27 pm |
  5. beth - Alaska

    Rangel is hoping that Obama wins so that he could pardon him.

    September 16, 2008 02:28 pm at 2:28 pm |
  6. Don Fitzgerald

    Way to go, Representative Rangel !! That's the bedrock of American justice: Innocent until proven guilty !! Let's not forget that, please. If Governor Palin is entitled to the presumption of innocence, concerning her abuse of power with regards to the Top Cop, for not firing her ex-brother-in-law, than Representative Rangel is entitled to the same presumption of innocence !!

    September 16, 2008 02:29 pm at 2:29 pm |
  7. Larry, CA

    Blah, blah, blah.....another Congressman who is above the people.

    Spare me. If you really want to do something you will stop Congressman and women from naming buildings, etc. after themselves with our tax dollars. It's shameful.


    September 16, 2008 02:31 pm at 2:31 pm |
  8. Ohio voter

    Give the guy a chance to pay up like everyone else. Cmon everyone tries to get outta taxes legally, maybe he just didnt know what he was doing was a crime? Beisdes he is a long time democrat supporter and deserves the benefit of the doubt. I mean cmon this is Cnn we cover for Dems, I mean if Rangle was a Republican this should be front page right? He is one of us so shhhhh.

    September 16, 2008 02:31 pm at 2:31 pm |
  9. inuk of the north

    Rangel wants an independent investigation from the accountants HE HIRES?

    Another joke from our congressional leaders Pelosi and Reid.


    September 16, 2008 02:31 pm at 2:31 pm |
  10. mitchell

    i find it amazing that anyone can figure out our tax codes. bloated with red-tape bullcrap.

    September 16, 2008 02:32 pm at 2:32 pm |
  11. America think for you

    I am a Democrat and I am voting for McCain. Oh no! Why are you betraying Barack? You know why! Because John McCain had invented the Black Barry. I love my blackberry. McCain know Washington for 30 years, Barack is new to Washington. McCain is smart and does not understand the economy and I am thrill to vote for McCain. McCain is rich and Barack is not. McCain has many houses and Barack does not. If I Americans get evicted from their homes they can get a room each from McCain. McCain is the real deal that will shake up Washington and himself because he is an insider. Sarah Palin is a foreign policy expert because she can see Russia from Alaska Joe Biden cannot see Russia from Delaware. This is why I am not voting for McCain.

    September 16, 2008 02:32 pm at 2:32 pm |

    You are dirty,you have always been dirty and you will always remain dirty.

    September 16, 2008 02:33 pm at 2:33 pm |
  13. Spencer from VA

    Who cares about Charlie Rangel???

    September 16, 2008 02:34 pm at 2:34 pm |
  14. S. Boatman

    Palin Should Do The Same Instead Of Stalling And Trying To Hide The Truth!

    September 16, 2008 02:34 pm at 2:34 pm |
  15. Barbara - NC

    Do any of you notice the chant USA USA USA at McCain rallies?

    They are prompted to chant to cover up protestors. That from my sister who attended one of those rallies.

    Obama/Biden '08 (I can't help my sister's political leanings)

    September 16, 2008 02:35 pm at 2:35 pm |
  16. Reagan

    The Democrats are starting to be as bad as some of these professional athletes.

    Drunks, Drug users, Affairs, tax evaders, under the table dealings.

    Mad about the high interest charges on your credit cards? Thank Biden!

    September 16, 2008 02:36 pm at 2:36 pm |
  17. Wayne

    Here come the distractions..remember. CNN wants a Republican president. Notice none of the topics above have anything to do with the failing economy. We have all been Bushed!! How can the most powerful person on Earth not be held responsible for anything?

    September 16, 2008 02:36 pm at 2:36 pm |
  18. Barbara - NC

    No transparency, No political Office.

    Obama/Biden '08

    September 16, 2008 02:37 pm at 2:37 pm |
  19. fella from Chicago

    Charles, you're a thief and you know it. The investigation will only be transparent until inproprieties are discovered. New York is tightening up in the Presidential polls because New Yorkers are tired of the crooked politicians running their state governments and are about to vote them out of office. Eliot Spitzer with his prostitute and now you Charles covering up your income tax. Hillary, what are you hiding besides Bill?

    September 16, 2008 02:37 pm at 2:37 pm |
  20. ChrisP

    Oh yeah ... investigate yourself ... just like IAD in police stations ... right!!!

    September 16, 2008 02:39 pm at 2:39 pm |
  21. Praetorian Independent invesitgator appointed by the Attorney Generals office.

    September 16, 2008 02:39 pm at 2:39 pm |
  22. Ron L

    Frankly NOTHING would make me happier than to see ANYONE in the Congress or Senate with more than 20 years service replaced by new blood. But as far as this situation goes; as long as everything is conducted above board I think everyone should just wait and see...

    September 16, 2008 02:39 pm at 2:39 pm |
  23. Bob

    Resign already.

    September 16, 2008 02:42 pm at 2:42 pm |
  24. ClintonDem4Cynthia08

    Its rather delightful that 1/2 the Obama supporters will vote McCain once inside the confines of the voting booth. At which point the Democrats will blame Hillary Clinton further splitting the party. Enabling the Green party to become the 3rd viable major party in the US

    September 16, 2008 02:43 pm at 2:43 pm |
  25. Jolly Old Saint Barack

    Tell me, WHY has Rangel NOT been thrown out on his ear regarding this matter? If he were a Republican, there would have already been a howl of calls for his head on a platter.

    i guess that's what happens when liberals control all the media content in this country. If a perfect world, Charlie Rangel would be in the unemployment line.

    September 16, 2008 02:44 pm at 2:44 pm |
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