MORTGAGE DEAL REVIVES QUESTIONS ABOUT GOVERNOR’S “FAMILY BUSINESS”
S.C. Gov. Nikki Haley and her husband Michael have entered into a $400,000 financial transaction with Haley’s parents – Ajit S. Randhawa and Raj K. Randhawa.
It’s unclear exactly what the underlying financial arrangement is, but a mortgage transaction was filed in Lexington County, S.C. earlier this week related to the deal.
That order – which lists the Haleys’ residence as 800 Richland Street (a.k.a. the Governor’s Mansion) – shows that the governor’s parents have given her and her husband a security interest in a pair of properties they own.
“This is not a typical mortgage and definitely not an arms length transaction,” one source familiar with such financial deals told FITS.
An arm’s length transaction is one in which the buyers and sellers of a product act independently and have no relationship to each other. The concept of an arm’s length transaction is to ensure that both parties in the deal are acting in their own self interest and are not subject to any pressure or duress from the other party.
No note is attached to the order, but whatever the amount of debt the Randhawas “owe the Haleys for some amount.”
“There’s no way of knowing for sure from the mortgage whether a loan was actually made,” another property attorney told FITS.
Hmmmm …
Haley’s financial relationship with her parents’ company has made news in the past.
In August of 2008 Haley – then a state representative – submitted an employment application to Lexington Medical Center (which wound up employing her for twenty months as a vastly-overpaid “fundraiser“).
This job application included a 2007 income estimate which vastly exceeded the amount of money Haley reported to the IRS that year. Specifically, Haley’s application stated that she made $125,000 from her family clothing business in 2007 (a figure that would explain her $300,000 home, Cadillac SUV, etc.).
The only problem with that figure? On her federal tax returns, Haley reported making only $22,000 from the “family business” that year.
Haley later claimed that she did not provide the hospital with the $125,000 figure, and that she did not know who did. However, a “forger” would had to have known Haley’s personal phone number, private email address, user name, security question and password.
Which reminds us … about that password.
The initial suspicion was that Haley may have lied on her job application – although the much more damaging allegation is the possibility that Haley lied on her tax returns regarding income derived from her parents’ business.
Which makes this latest transaction very suspicious indeed …
39 comments
Tricky Nikki. Not to be trusted!
Why,cause her family has money?You’re just jealous.Could be this ‘transaction’ is needed to pay for the HIGH Obamacommunist HealthCARE DEDUCTIBLES?
You need 5 or 10 grand just too get into a doctor.
In what universe? Yours? Her family has money… bwaaahaaa.
Where did the money come from?
According to public records at Lexington Cty., Nikki and Michael paid off their house in Governor’s Grant.
Mortgage book 16316 at page 58 says otherwise, Hazel.
My bad.
One mortgage is always paid off when you refinance with
another mortgage company.
I’m sure a lot of unemployed people are jealous of her ability to “find” state jobs for her kid.
No, it’s because of her constant lies, cover ups, sell outs and incompetency!
It is ALWAYS all about Nikki. I just pray the people of this state are not uninformed, naive, or dumb enough to give her a second term.
I voted for her once, was fooled. There is no education in the second kick of a mule!!
Nikki needs to go!
If you go to SC judicial and pull up case records search for Orangeburg County, you will see that there is a 2011 SCBT judgement against the Randawas for $389,108.07. That’s pretty close to $400K, isn’t it?
A poor boy like me can’t count that high … but I’ll take your word for it ;)
Will, so glad you dumped her and ended up with a nice girl.
If I was a betting man, I’d place a wager that SCBT came to terms with our glorious governor for “future favors” based on her position, to get her parents off the hook.
It’s probably something we’d all do if in a similar situation, assuming that’s legal.
I thought electing Liberal-Tarians would mean everybody minds their own business…
Looks like EVERY move you make, FITS is watching you…(My apologies to Stink and the Po’lise)….
That is Simran, her sister with the good skin. She just wrote a book called Conversations with the Universe.
She must know something we don’t, because that is one shit-eatin’ grin on her face…
…like the cat that ate the canary
You do realize that that picture is about 20 years old.
“A simple example of not at arm’s length is the sale of real property from parents to children. The parents might wish to sell the property to their children at a price below market value, but such a transaction might later be classified by a court as a gift rather than a bonafide sale, which could have tax and other legal consequences.” Wikipedia
Nothing here.
Ho hum nothing to see here folks move along…hahahaha yeah right …the whole family is corrupt.
You’re right! ….not paying taxes is corrupt
The problem here is that the parents paid $1.15M for this property on 9/15/2000 – and it appears that based on the deed record that the Haley’s are only paying $400K for the property. I would think that the IRS would see this as a $750K gift (someone is apparently trying to avoid future estate and present gift taxes)
It will also be interesting to figure out the property bills for all of their properties (i.e. what is taxed at 4% and what is taxed as 6%) – you want to bet that a bunch of these properties are only be taxed at 4%.
Good lord how did out state get this trash as our?Governor Governor
Governor
I think I agree with you – but then again maybe not – anyway, thanks for posting posting posting!
I agree with Lisa ….Good lord how did out state get this trash as our?Governor Governor Governor
SCGOP voters?
Seems that the two properties would be their home in Spence’s Plantation and possibly their office space on 378. Were they in danger of losing their home?
The lake house was advertised for sale for 1.3m last month in state
newspaper
NIKKI HALEY ONLY CARES ABOUT NIKKI HALEY!
It might be illegal here, but back home it’s called “Sikhing money.”
Why wasn’t she ever prosecuted for tax evasion? At the time she was supposedly making $22,000, she and her husband purchased a fairly expensive house, I think for around half a million. Her husband at that time was starting his own business and was deep in debt. His tax return showed that he supposedly made next to nothing. Where did the money come from? Their mortgage would have been around $3000 a month. How can you pay that if you make less that $50,000 as a couple and have 2 kids?
Oops, my bad. I see the article mentions the $300,000 home. That’s still a hefty mortgage for a woman making $22,000 and a husband making next to nothing.
Mr. French needs to dig a little dirt on the “family” business. Enlightening.
Has anyone turned in an IRS form 3949-A on Nikki? Seems like the IRS would gladly pursue her given their affinity for pursuing Conservatives. Oh…my bad…Nikki doesn’t qualify.
She looks genuinely happy there.
That rich man in the red turban looks like, way dangerous; is that the Governors Dad? And anyway who cares where the money comes from so long as its from the family business. And the rich man in his summer home said, “Best leave well enough alone.”
Just because she had cash doesn’t mean her income was more or less than is being reported. She can pull cash out of her company (i assume she has an equity interest in her parents’ company) and not pay a dime of taxes on it if the cash was earned in previous years.