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. Hillary 2012

    Obama supporter !!!!!!!!!!!!!!

    Change !!!!!!!!!!!!!!! only in talk !!!!!!!!!!

    Mc Cain / Palin 08

    September 16, 2008 03:03 pm at 3:03 pm |
  2. Where are our brothers to defend this fine man.

    Notice how we don't hear a peep from Rev Sharpton????

    Obama probably ordered him to stay low-n-quiet.

    September 16, 2008 03:04 pm at 3:04 pm |
  3. Michael

    More Distractions to the issues...

    Rangell, if you are found to have knowingly or un-knowingly avoided paying taxes, you should be punished to the fullest extent of the law. Period, end of story.

    Gov. Palin, why don't you try practicing the very thing you are preaching: Transparency!

    September 16, 2008 03:05 pm at 3:05 pm |
  4. Mike, Syracuse NY

    What do you expect from the successor to Adam Clayton Powell, the most corrupt politician ever?

    Pelosi SHOULD BE pressuring him to step down. But of course the Dems will cover this up.

    September 16, 2008 03:08 pm at 3:08 pm |
  5. jimmy

    ANY INVESTIGATION OF A PUBL;IC OFFICIAL ESP. A CONGRESSMAN SHOULD BE BIPARTISAN TO AVOID THE IMPRESSION OF A PARTIASAN WITCH HUNT AS IN THE CASE OF THE PROBE ON GOVERNOR SARAH PALIN'S ALLEGED FIRING OF
    A STATE EMPLOYEE. WHICH WAS STARTED AND BEING PURSUED
    BY A DEMOCRATIC LEGISLATOR. THE MATTER IS A STATE ISSUE
    AND HAS NOTHING TO DO WITH NATIONAL POLITICS.
    THE FACTS ARE THE FIRING OF THE MAN WAS JUSTIFIED .
    THE TROOPER IN QUESTION ADMITTED ON CAMERA THAT HE "MADE MANY MISTAKES " ONE OF WHICH WAS DRINKING OIN THE JOB.. HE LOST CUSTODY OF HIS CHILDREN . HE REMARRIED AFTER HIS DIVORCE FROM SARAH PA;IN'S SISTER.
    HE HAS SINCE BEEN DIVORCED AGAIN !!!! IN SHORT ORDER..

    September 16, 2008 03:09 pm at 3:09 pm |
  6. DJ Los Angeles

    Sounds fair. Independent investigation. Nothing to hide, unlike Gov. Palin.

    September 16, 2008 03:10 pm at 3:10 pm |
  7. Hillary Democrat

    He needs to step down. THis is bad for Obama and democratic congress. Time to clean house. McCain will do it. McCain 2008 and Hillary in 2012

    September 16, 2008 03:11 pm at 3:11 pm |
  8. shannon

    Dems want to raise our taxes, but cheat on theirs.

    Great...we have gone from Rep corruption to Dem corruption.

    September 16, 2008 03:11 pm at 3:11 pm |
  9. hrsc

    Good for you Charlie,

    What were you thinking anyway your black, your not suppose to use the same tricks that white america has used successfully and continues to use. Shame on you.

    This is a fact there is a small group of money / power hurry people that are making the current decisions that are breaking this countries back. How many of these failed institutions will we find out will have been bought up by our enemies...GREED will destroy. Bin Ladin stated in one of those tape interviews that they would destroy our financial iInfrastructure .... Wake up people ....McCain more of the same....

    September 16, 2008 03:12 pm at 3:12 pm |
  10. Doris,Memphis, TN

    Multiple Choice Test

    1.) Who is after Rangel?

    a.) The Clintons

    b.) The Republicans

    c.) The PUMAS

    d.) Clinton Donors

    e.) All of the Above

    September 16, 2008 03:12 pm at 3:12 pm |
  11. sandee in Portland

    This is news! He's not the first politician to get in trouble and he won't be the last no matter which party wins the White House.

    Let's talk about the economy instead and why we are in the trouble we're in. Could it be because McCain and the Republicans voted for deregulating the industry? Yep, I think so. There needs to be government regulations on all types of industry and the Republicans voted to get them taken away and well as voting to give tax breaks to companies that moved overseas. When you take away the rules and encourage our great American manufacturing companies to move out, what do you have left. Service industry jobs at a much lower pay scale than those that are gone. This country cannot survive on the average worker being in a service related industry. Sure, McCain says our workers are the best...and they are. It's just that their jobs are being taken away because manufacturing companies are going where labor is cheaper and they get a tax break for doing so.

    I have never been into politics all that much but have voted in every election as a Republican. This year I, like many of the people, are really into it. I admit I voted for Bush (I was stupid) the first time, but voted for Kerry the second time because I could see where our country was heading. If you in all honesty can say you are happy with the direction our country is heading, then vote for McCain. If you are unhappy, vote for Obama. Most older people don't accept change easily. I know because I am one, but this is a time when we need change the most.

    September 16, 2008 03:15 pm at 3:15 pm |
  12. Oh Rangel

    Dude, your busted, time to face the music, I don't care if your a dem or repug...time to clean out the government.

    GO OBAMA O8!!!

    September 16, 2008 03:19 pm at 3:19 pm |
  13. William, from Cali!

    Charlie Rangel!................He should become a Republican........maybe then, his lies would sound more believable, right now!

    September 16, 2008 03:22 pm at 3:22 pm |
  14. Jon

    This is entirely appropriate. Millions of Americans lie or mess up their tax returns. Why? Because the Internal Revenue Code is a mess! All you tax-reformers out there know this. When you're got this much money, things get messed up.

    Not the Congressman is offering to have his records reviewed for the last two decades to ensure all of his finances were properly reported. This kind of transparency screams that what has happened was a simple mistake. If it turns out that he's been cheating for years, he can always be removed from office.

    September 16, 2008 03:23 pm at 3:23 pm |
  15. vw

    Like Dtroit Mayor, Hard to trust this person

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

    He forgot to report rental income from the luxury homes he doesn't know/forgot he owns!? Who does he think he is, McCain?

    September 16, 2008 03:24 pm at 3:24 pm |
  17. Matthew

    Didn't Nancy Pelosi promise to clean up the swamp?

    September 16, 2008 03:27 pm at 3:27 pm |
  18. baby mama

    Sleaze and a Demorat..............now that is something you don't see very often...........and in other BREAKING NEWS...........the sun came up in the East today

    September 16, 2008 03:28 pm at 3:28 pm |
  19. Spencer from VA

    JB-NYC

    Charlie tried to give the Obama camp 100k. What's up with that? There is too much controversy around him right now. He almost reminded of McCain not knowing how many homes he owes.

    September 16, 2008 03:33 pm at 3:33 pm |
  20. Republicans Hate America

    you should do what Palin and the republicans always do not cooperate with anything.

    September 16, 2008 03:33 pm at 3:33 pm |
  21. stormerF

    Rangel is a crook like Dodd and Schumer and Biden and Barney Frank all could have regulated the mortgage companies,but they took too much political contributions from them to do that.Than they let them get away with taking millions in servance pay after ruining the company.Now the Tax Payer yes You and I will have to get stuck bailing them out instead of them going to jail. Obiden lives in the pocket of the banks that hold the credit cards,just look at where all the bank card companies are DELAWARE. Transparency he could not stand,Wheres the outcry of why his son and brother are being investigated and him trying to get his son out of lobbying while he(Obiden) made his run for the presidency.

    September 16, 2008 03:35 pm at 3:35 pm |
  22. PoliticoPundit

    This is the same Congress which was looking for exonomy for last two years.. Since Bush is president it becomes his fault..

    People wakeup and think

    September 16, 2008 03:36 pm at 3:36 pm |
  23. jt

    This guy needs to be fired.

    September 16, 2008 03:41 pm at 3:41 pm |
  24. Steve- NYC

    FRAUD- Love to see the "above the law" ego out in full force. First Spitzer, now Rangel, how I love being their constituent.

    September 16, 2008 03:44 pm at 3:44 pm |
  25. gt

    THEIF !!!!

    September 16, 2008 03:57 pm at 3:57 pm |
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