September 16th, 2008
12:18 PM ET
4 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)
  1. Steve in Orlando

    SOME,,,,PEOPLE,,,,APPARENTLY,,,,HAVE,,,,BROKEN,,,,CAPSLOCKS,,,AND,,,,SPACEBARS

    That being said, this isn't an election issue, and if it did become one it's not a partisan issue. It's a friendly reminder of the kind of transparency we need in our government, the kind we never have had, and undoubtedly, never will.

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

    now if we could get somone to investigate bush/ cheney no bid contracts to their good ol boys in the pentegon you people in the media would be doing your job . the bush admin and the retired generals admirals etc. of the military have robbed us blind w/this fake war and relief disasters that the money from the fed gov't went into the pockets of a few ranking good ol boys of the milatary. investigate this.

    September 16, 2008 02:45 pm at 2:45 pm |
  3. Bulldog

    I love how the same people slam this guy but then defend Palin for charging per diem to stay in her own home and for not cooperating with an independent investigation. HYPOCRITES

    September 16, 2008 02:47 pm at 2:47 pm |
  4. You Can Run But You Can Not Hide!

    Republicans say that they are Christians and Pro-Life but McCain and his propaganda team fabricate LIES like no other and uses LIES as their campaign theme! They are willing to send other peoples sons and daughters to kill and be killed in Iraq and other war they wish to have! What hypocrites!!!
    No integrity, No Honor, No sence of Responsibility, Anything That Happens Is Another Person's Fault! Grow up people, it is not kindergarten, it is real world!

    September 16, 2008 02:48 pm at 2:48 pm |
  5. JB- NYC

    Ah Yes. Pelosi said she was going to drain the swamp.. Well, look what we have found.

    Charlie Rangel. Sorry Charlie... Time to step down.

    September 16, 2008 02:48 pm at 2:48 pm |
  6. the truth now

    What is the big deal almost eveyone has owed taxes at one time or another. Just because he hasn't paid them is no reason to go after his throat. I had disagreed with the government about my taxes that I had owed over 300 dollars and 2000 dollars in penalities dismissed when they found out I was right. So come on give the man a break.

    September 16, 2008 02:50 pm at 2:50 pm |
  7. JB- NYC

    Spencer,
    You asked who cares about Charlie Rangel?

    You should he is the chairman of the way and means committee. Maybe you have heard of them, they write the tax code of the USA..

    DUH, thats why you should care!

    September 16, 2008 02:52 pm at 2:52 pm |
  8. say NO to FED's thievery!

    SAY NO to FED!

    who is commiting unknown and unlimited amount of tax dollars

    in order to bail out themselves and their neo-con cronies, the loan-sharking parasites of the economy,

    and to dump what will be eventually trillions of "toxic" debt of theirs

    on to taxpayers' back!

    wake up!

    your portfolio is worth nothing, and that's not the worst thing!

    you and your children will have to work three jobs and pay more taxes

    to ensure these thieves will enjoy their excessive lifestyle,

    if you let these thieves dump their debt on you through FED!

    September 16, 2008 02:53 pm at 2:53 pm |
  9. mccainiac

    shocker...a democrat who claims to want to help the poor through taxes, only with everyone else's money but his own....funny...

    and SACTO JOE-
    why is it the governments responsibility to control every aspect of our lives? you liberals want woman to have the right to choose (as do i) but want government to control every thing else? makes no sense...

    September 16, 2008 02:55 pm at 2:55 pm |
  10. hurriCAIN PALIN

    democrats are just as bad as repubs w/ corruption, lying , etc.................

    so what else is new

    September 16, 2008 02:56 pm at 2:56 pm |
  11. Peter (CA)

    If Rangel did anything wrong, he should be booted from office. That should be true for Democrats or Republicans. Unfortunately, my crooked congressman (Republican) keeps getting re-elected.

    CNN....please stop the posts with--every-–word-–hyphenated.
    They-say-nothing-and-are-very-annoying.

    September 16, 2008 02:56 pm at 2:56 pm |
  12. Rick

    The Congress has made the tax code so ridiculously complex not even someone who writes tax laws can get it right. The following proposal will fix that in a hurry.

    All members of Congress and the President, as the person who signs all legislation, would be required to accurately complete their tax returns without the use of tax accountants or a third party tax preparer on any kind (and would have to swear under oath and penalty of perjury to the same). All such returns would be subject to an annual audit by the IRS. The penalty for any mistakes resulting in underpayment of taxes would be (pick a number) 10 times the amount of the tax due.

    Bet that would simplify the code in a hurry.

    September 16, 2008 02:57 pm at 2:57 pm |
  13. Paul

    Funny how putting the words 'Democrat' or 'Republican' in front of someone's name makes most people hypocrites in their responses.
    only two peopl qualified to be in the White House- Biden and McCain. Makes it an easy choice.

    September 16, 2008 02:57 pm at 2:57 pm |
  14. Michigan voter

    To Barbara- NC
    Yes I noticed the USA chant. It's unfortunate that the Dems have to protest in the manner that they do. Nothing wrong with a quiet protest, why interrupt, be rude and fight security. We didn't see that at the Dems convention....

    I'll be writing in NONE OF THE ABOVE on election day. It's pretty sad that our great country could only find these two bozo's......

    September 16, 2008 02:58 pm at 2:58 pm |
  15. Chuck

    Another thieving D"i"mocrat, stealing from the people while swearing they are helping America.

    The Dims have been in control of Capitol since 2006....

    WHERE IS THE CHANGE?

    September 16, 2008 02:58 pm at 2:58 pm |
  16. Sweetie

    Another one bits the dust!

    Democrats have been waiting for Obama to get in office so that all their dirty tricks can be forgiven!

    I wonder how many backroom deals Obama is going to have to live down now that he is loosing and will lose the election!

    We are the winners for not electing this VERY connected Chicago Style Politician!

    McCain/Palin-08-In a Landslide Victory for all!

    September 16, 2008 02:58 pm at 2:58 pm |
  17. dittohead with forty names

    Rush said it was all Rangels fault,I believe Rush because he is the real saviour of all the rich people and folks like me who dont have a clue.

    September 16, 2008 02:58 pm at 2:58 pm |
  18. Ian

    One more reason for term limits and one more reason to vote for a third party this election.

    September 16, 2008 02:59 pm at 2:59 pm |
  19. Leta

    I would like all access to all bank account records including any wire transfers or e-bill services used......I would love to do the research.....The tax records are necessary but I am not upto date on past years tax policy's...You just might find he is a victim of Hillary Clinton and Al Gore's NAFTA Scams.......

    September 16, 2008 02:59 pm at 2:59 pm |
  20. Bulldog

    I love how the same people slam this guy but then defend Palin for charging per diem to stay in her own home and for not cooperating with an independent investigation. HYPOCRITES

    September 16, 2008 03:00 pm at 3:00 pm |
  21. Margaret Mary

    I'd like to know what Sarah Palin's college degree was in. I'd also like to see an accurate and complete work resume she has since her college graduation. I'm interested in hearing comments from her college professors. I'll make a bet her college and work resumes would be an interesting read. And this is the person who will be a HEARTBEAT from the presidency.

    September 16, 2008 03:00 pm at 3:00 pm |
  22. Independent for McCain

    I think it's funny that the Libs on this blog immediately turn the attention to the McCain/Palin ticket, instead of focusing on a dirty politician like Rangel. He's a crook and you know it, your just afraid to admit to it. I'm not saying that the GOP doesn't have any on their side, but come on. This portion of the blog is meant to discuss Rangel and his unethical decisions, right? So lets get the conversation back on that.

    Rangel is a thief.

    VOTE McCAIN/PALIN '08

    September 16, 2008 03:00 pm at 3:00 pm |
  23. Leta

    It wouldn't surprise me either that I would wind up reasearching all the years Bill & Hillary Clinton were in the White House and Al Gore right on their heels.....Nor that money was laundered through his accounts.....

    September 16, 2008 03:01 pm at 3:01 pm |
  24. You Can Run But You Can Not Hide!

    McCain, if you put your Country First?

    RETIRE BECAUSE YOU ARE LOOSING YOUR BEARINGS!
    Cindy please help him with his invention Backberry!

    September 16, 2008 03:03 pm at 3:03 pm |
  25. Leta

    Nino in Northridge that would be like asking Obama and Hillary to cut off their heads.....

    September 16, 2008 03:03 pm at 3:03 pm |
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