What Is Jim Graves Hiding?
All candidates for US House that raise or spend more than $5000 on their campaign, must (MUST) fill out a FINANCIAL DISCLOSURE STATEMENT FORM B . Its a really long and boring set of instructions, but the basics, that even I was able to deduce is that if you make more than $200.00 a year off something you must (MUST) disclose it to the public. My interpretation is that this would include assets like shares in companies, properties owned, and stocks or investment portfolios.
Well if you look at Jim Graves’ disclosure form, you may ask yourself, “That’s it Jim?” As I pointed out yesterday, the Strib estimated Jim Graves’ worth somewhere between $25 to $111 million. But when you look at his disclosure form, it seems to be missing many companies he is publicly linked to not to mention that he doesn’t seem to have any retirement savings.
Take a look at Jim Graves’ report (pdf).
Compare that to Nancy Pelosi’s (pdf)
Now I’m no CPA and frankly I only play a lawyer on the internet (ha ha), but it sure seems to me that Jim Graves may have not “fully” completed this Federally required form. Does he really not own any stocks? I own stocks in my retirement accounts. Pelosi lists hers, like she owns stock in Apple and many others. She is also very rich and owns lots of stocks and lists them.
But there’s more to what Jim Graves isn’t telling us.
Inaccurate, Missing ???
On his form, Jim Graves discloses 16 different business assets spread between Minnesota, Wisconsin, and New York. But 3 of them are not registered in any of those states. Another he listed in Minnesota is actually in Wisconsin. That’s false information.
Jim Graves completely leaves other business assets off the form entirely. There are other companies that Graves is publicly associated with that he doesn’t even list.
|Block E Hotel Capital, LLC||James Graves||601 1st Ave. N #600|
|Active||In Good Standing|
|Block E Hotel Capital 2, LLC||James Graves||601 1st Ave. N #600|
|Inactive||8/7/12||Revocation – LLC (Foreign)|
|Block E Lodging, Inc.||CEO: James Graves||3815 Washburn Ave S|
|Active||In Good Standin|
|Block E Realty, LLC||Union Labor***||8403 Colesville Rd, Silverspring MA|
|Inactive||4/30/12||Resignation of Agent – LLC (Domestic)|
|St. Cloud Suite Hotel, Inc.||James J Graves||601 1st Ave. N #600|
|Active||In Good Standing|
Block E Is a Bust
Keep in mind that Jim Graves happened to be on the beneficiary side of the whole Minneapolis Block E project that has since pretty much gone bust. He was the landlord of the old Hooters that went bankrupt, well, Block E Realty was.
What else is missing Jim Graves?
There’s plenty of room for someone far smarter and more familiar with disclosure laws and Jim Graves’ actual assets to look into. But if you’re supposed to list anything you’ve owned or made money off of in the current and proceeding year, his report seems a bit on the incomplete side.