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Gold Standard of Ethics--$1000 fine for $49000 bribe
Posted on 12/23/14 at 5:28 pm
Posted on 12/23/14 at 5:28 pm
How do you get these deals?
LINK
Didn't serve a day and got a $10000 fine. What a slug.
LINK
quote:
La. Board of Ethics fines brother of former Tangipahoa councilman in land-flipping deal
Ethics Board alleges misconduct in property flip
HEIDI R. KINCHEN| HKINCHEN@THEADVOCATE.COM
Dec. 23, 2014
1 Comments
The brother of a former Tangipahoa Parish councilman will pay a $1,000 fine for flipping a piece of property his councilman-brother helped secure tax credits to develop.
The Louisiana Board of Ethics on Friday approved the fine for Salvador Petitto.
His brother, Michael Petitto, in 2006 sponsored a council resolution supporting a housing project near Amite just one day after Salvador Petitto signed an exclusive option to buy the 18 acres where it would be built.
The developer submitted the resolution with an application for low-income housing tax credits through the Louisiana Housing Finance Agency.
After the LHFA approved the credits, Salvador Petitto bought the land and “flipped it” the same day to the developer for a $197,000 profit.
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Two weeks later, Salvador Petitto paid a $49,000 balance on Michael Petitto’s mortgage, which Salvador later characterized as a loan to his younger brother, who needed help.
Louisiana’s Code of Governmental Ethics prohibits any public official or family member from being involved in any transaction under the official’s supervision or jurisdiction.
Michael Petitto was convicted in 2012 on two counts of malfeasance in office related to the deal. He received two consecutive, five-year prison sentences, suspended, was placed on five years’ probation and fined $10,000.
Michael Petitto appealed the conviction, but the 1st Circuit Court of Appeal affirmed and the state Supreme Court denied writ. He resigned from the Tangipahoa Parish Council in June 2012.
Didn't serve a day and got a $10000 fine. What a slug.
2
Posted on 12/23/14 at 5:34 pm to I B Freeman
quote:
His brother, Michael Petitto, in 2006 sponsored a council resolution supporting a housing project near Amite just one day after Salvador Petitto signed an exclusive option to buy the 18 acres where it would be built.
Ever noticed how so many local politicians and state senators or their spouses are also real estate "agents".
You arent supposed to directly profit. Just take a cut of the action.
Posted on 12/23/14 at 5:48 pm to Asgard Device
quote:
Ever noticed how so many local politicians and state senators or their spouses are also real estate "agents".
Landrieu's hubby, too.
Posted on 12/23/14 at 5:57 pm to I B Freeman
Is he also required to pay restitution? Would technically be separate from the fine.
Posted on 12/23/14 at 6:01 pm to Asgard Device
quote:
Ever noticed how so many local politicians and state senators or their spouses are also real estate "agents". You arent supposed to directly profit. Just take a cut of the action.
A state Rep from Grant Parish held up the four laning of Hwy 167 through Dry Prong for several years, insisting the route go through a piece of property he owned. He finally got what he wanted, and got around a $million for property that would have been worth about $50k on the open market.
Meanwhile, the Baptist Church in Dry Prong-of which the Rep was a member and deacon-had been assured the road would take another direction, and built a new building based on it. When the plans changed, they lost the space they were counting on for a parking lot. So he not only screwed the taxpayers, he screwed his own church.
I won't bother to post his name, but he was a Rep from 2007-2011, if you're really interested in looking him up.
Posted on 12/23/14 at 6:04 pm to Jim Rockford
quote:
A state Rep from Grant Parish held up the four laning of Hwy 167 through Dry Prong for several years, insisting the route go through a piece of property he owned. He finally got what he wanted, and got around a $million for property that would have been worth about $50k on the open market.
Meanwhile, the Baptist Church in Dry Prong-of which the Rep was a member and deacon-had been assured the road would take another direction, and built a new building based on it. When the plans changed, they lost the space they were counting on for a parking lot. So he not only screwed the taxpayers, he screwed his own church.
I won't bother to post his name, but he was a Rep from 2007-2011, if you're really interested in looking him up.
A lot of similar shite was involved in the I-49 route through Alexandria.
Posted on 12/23/14 at 6:13 pm to Jim Rockford
Billy Chandler?
Posted on 12/23/14 at 6:15 pm to boosiebadazz
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