This is BX @ Boxden.com


FBI opens SEC Probe of Miami Marlins Ballpark Deal


 FBI opens SEC Probe of Miami Marlins Ballpark Deal
24 topic by Cheeze - 12-03-2011, 03:13 PM - Boxden > BX SportsCenter




Federal authorities began investigating the Miami Marlins ballpark stadium deal on Thursday, according to the Miami Herald.

The US.Securities and Exchange Commission requested information from Miami-Dade County and the City of Miami about $500 million in bond sales and records of campaign contributions, according to the Herald.

The SEC also wants meeting minutes and finances dating back to 2007, including meetings between Marlins owner Jeffrey Loria, Major League Baseball Commissioner Bud Selig, team president David Samson, former Major League Baseball president chief operating officer Robert Dupuy and the government, according to the Herald.

"Yes, we are aware of the investigation that the SEC is conducting on the issuance of the county's and city's stadium and parking bonds. Of course we will fully cooperate with the SEC's investigation as needed and a$sist in whatever way possible. Because this is an on-going matter, it is not appropriate to comment further," the Miami Marlins said in an email statement Saturday.

The county also says it will cooperate.

"The county will comply with the SEC's request and provide the documents they are asking for," said Suzy Trutie, Miami-Dade County spokeswoman.

The county and the city were responsible for 80 percent of the $634 million construction project., the newspaper said.

"We are trying to determine whether there have been any violations of the federal securities laws. The investigation and the subpoena do not mean that we have concluded that Miami-Dade County or anyone else has broken the law," Drew D. Panahi, the commission's senior counsel, told the Herald.

Marlins President David Samson had told the Herald the team hasn't received a subpoena, but he told the newspaper "Appreciate the info."

But the city officials are concerned with the cost of the review. In 2006, a similar two year long review cost it $1.4 million, according to the Herald.


"I am obviously disappointed. Any time there is an investigation like this it is expensive. But these transactions predate me," Commissioner Francis Suarez said. "We are trying to keep the city afloat in difficult times and it's hard when unanticipated situations arise."

The SEC is also looking into the stadium parking garages. Officials have said they have to pay as much as $2 million in property taxes to the county beacuse they are leasing the stadium's individual parking spots in the garage to the Marlins.

Miami Mayor Tomas Regalado and Miami-Dade Mayor Carlos Gimenez couldn't immediately be reached for comment.


Source


> FBI opens SEC Probe of Miami Marlins Ballpark Deal - Photo posted in BX SportsCenter | Sign in and leave a comment below!


Latest Sports Hot Topics    share this topic    Share this on Twitter Share this on Facebook

1 comments for "FBI opens SEC Probe of Miami Marlins Ballpark Deal"


 12-03-2011, 04:27 PMaway - #2
Dangerously 207 heat pts207

  d 
space
$45,099 | POWERFUL
David Samson is going to end up hanging himself.
 
 


Go Back   Boxden.Com - Stay First. Follow BX. > BX Table Of Contents > BX SportsCenter
    
         

 



Latest hot topics on fire the past 48 hrs
IGN Sunset Overdrive - Review Discussion
83 comments
How You Can Get a New PS4 for $275
164 comments
NBA Miami was using that fake crowd noise last night
69 comments
 Article inside Chicago Rapper Bandman Kevo Charged With With Being In...
New reply 2 minutes ago - 154 comments - by NoLastName
  Greatest Mixtape Or Mixtape Series Ever
New reply 16 minutes ago - 76 comments - by killa the goat
 NFL Week 9- Tnf- New Orleans Saints Vs. Carolina Panthers
New reply 5 minutes ago - 436 comments - by Frasier
 NFL Wait, What!?!?: Rg3 To Start This Sunday Vs Vikings
New reply 16 minutes ago - 120 comments - by slipnslide85
  The Ps4 Shareplay Thread: Online Couch Coop And Trying...
New reply 12 minutes ago - 111 comments - by Jesszman
 NBA Kobe Now Cursed Out In First Two Games Of The Season
New reply 18 minutes ago - 109 comments - by Loc Da Pusherman
 Image(s) inside Oct 29 - Aliens Are Real Reveals Former Area 51 Scient...
New reply 15 minutes ago - 195 comments - by Rick Ross
  Best Rap Album Of 2014?
New reply 39 minutes ago - 83 comments - by QB Eagles

Like BX on Facebook Follow BX on Twitter
5,833 fans of BX | none new today 4,800 following | none new today

hot topic blog       hip-hop   |   sports   |   movies   |   games   |   news   |   wild'ish   |   gear   |   rides   |   tech

contact us   |   mobile   |   privacy statement

 Boxden.com. 1998 - end of time.