Danny Tarkanian plans to file appeal of $17 million judgment
Las Vegas, NV (KNTV) -- Republican congressional candidate Danny Tarkanian says that he is planning to file an appeal related to the almost $17 million judgment against him and his family.
The judgment was signed May 21 by U.S. District Judge William Hayes in a San Diego court.
Tarkanian claims that he was a victim of loan fraud in a California real estate deal. The family claims that they were tricked into loaning a California-based developer money for a project in Anza, California.
The developer and the bank that financed the project went bankrupt.
The Federal Insurance Deposit Corp., which took over the loan, filed the lawsuit to recoup the loan plus interest.
Tarkanian's mother is Las Vegas City Councilman Lois Tarkanian and former famed University of Nevada, Las Vegas basketball coach Jerry Tarkanian. His wife Amy used to be the chairwoman for the Nevada GOP.
This is not the only trouble that the candidate is facing.
A complaint was filed earlier this month against Tarkanian by the Nevada State Democratic Party with the Federal Election Commission alleging first quarter campaign irregularities.
Tarkanian is running for the seat in Nevada's new Fourth District. There are eight candidates running for the seat.
The winner of the June 12 primary will take on Democrat Steven Horsford in the general election.
Tarkanian issued the following statement:
My family and I invested in a real estate project with a developer and La Jolla Bank. The developer
misappropriated the money and subsequently went bankrupt. We believe the bank was involved and sued the bank for fraud. We won an initial restraining order preventing the bank from foreclosing on our property.
Thereafter, the FDIC forced the bank to close its operations citing unsafe and unsound banking
practices. Incredibly, once the FDIC took the bank over there is a federally statute that precludes most fraud claims against the FDIC.
My family believes that statute is no only unfair and unreasonable but also unconstitutional. We plan on appealing the lower court’s decision.
This is another example of when the federal government passes laws that are intended to help the
public but in reality does more harm than good. That is one of the reasons I am running for Congress.