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Wednesday, Aug. 1, 2012 | 9:51 a.m.
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A hearing a week from Monday in federal court could have a huge impact on the race for Nevada's new congressional seat as the legal battle between the FDIC and Danny Tarkanian will come to a head.
Tarkanian, who is facing Steven Horsford in the CD4 race, is seeking to have a $17 million judgment set aside while the Federal Deposit Insurance Corporation wants the candidate to pay up tout de suite.
A lot has happened since I revealed the judgment two months ago:
June 25 -- The bank filed a "writ of execution" asking federal marshals to enforce the $17 million judgment, which is accuring interest at the amazing rate of $4,600 a day.
July 5 -- Tarkanian's attorneys filed a brief asking for a stay, accusing the bank and others of fraud and making various procedural arguments.
July 10 -- Five days later, Tarkanian, through his attorneys, filed a motion to set aside the judgment.
July 27 -- The FDIC filed a motion opposing the stay and said Tarkanian must at least post a bond while the legal process plays out. That same day, the FDIC also filed a motion against the plea to set aside the judgment.
I have posted some of the relevant documents at right.
The bottom line: Aug. 13 could prove to be the most important day in the CD4 race.
Maybe your can get your money bags freind like Adelson or Romney or the KoOKe Brothers to bail you out Danny.
He's an eastablished real estate developer and lawyer and we are supposed to buy hook line and sinker that he got duped?
Sounds like he made a bad investment. Declare bankruptcy or pay the judgement. The bankruptcy problem is exascerbated by the fact that he involved his entire family in the dealings and they will likely lose nest eggs.
Imagine that a conservative accusuing the big bad banks of fruad!
Details need disseminating. Tark and family really painted themselves into a tight corner. Guess these things happen when you invest out of your sphere of knowledge and trust the insiders.
Danny Boy has gotten just what he deserves and his family will be taken down by him as well. The FDIC which is the tax payers are right and the monies he owes must be paid 'tout de suite'. Any more foolishness from this nit wit may land him in the exercise yard playing basketball with the guys who know how to really foul.
casinokid: Twas not the big banks. Seems their trusted adviser / partners scammed the Tarks. Everybody else knew Tarks would take a hit. So why did they invest?
Go over to Adelson's casino, put $500,000 on red 36 on the roulette wheel and he'll take care of you.