Nancy Pelosi gets caught in another wealth/non-disclosure/influence peddling incident that would be a scandal if she were a Republican:
House Minority Leader Nancy Pelosi’s husband, a real estate developer and investment banker, stands to make millions of dollars in a previously undisclosed residential real estate project in California as a partner with the father of a woman Mrs. Pelosi helped become ambassador to Hungary, records show.
Paul F. Pelosi’s investment in Russell Ranch is worth at least $5 million and possibly as much as $25 million in a deal put together by his friend and longtime business associate, Angelo Tsakopoulos, patriarch of a multimillion-dollar real estate development firm, according to Mrs. Pelosi’s latest personal-disclosure statement.
The first Russell Ranch listing came a month after The Washington Times raised questions about business dealings between Mr. Pelosi and Mr. Tsakopoulos and Mrs. Pelosi’s successful efforts to help his daughter, Eleni Tsakopoulos-Kounalakis, become ambassador. For 2009, Mrs. Pelosi reported that the Russell Ranch investment was worth between $1 million and $5 million. The next year, she listed the value as between $5 million and $25 million.
Nadeam Elshami, spokesman for Mrs. Pelosi, said the California Democrat did not have to list the Russell Ranch investment because it was held in the name of another company her husband owns, Forty-Five Belden Corp., which is a Subchapter S corporation and taxes it owes are paid by the shareholders rather than the corporation.