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FBI Search Warrants Look At Commissioner Price’s Personal Finances

DALLAS (CBSDFW.COM) – As FBI and IRS agents investigate Dallas County Commissioner John Wiley Price, legal experts say it always comes down to following the money.

FBI search warrants show agents are looking for any evidence of theft or bribery, money laundering, fraud, and tax evasion.

Matt Orwig is the former U.S. Attorney in the eastern district of Texas. “Find the flow of money,” he suggested. “What money was used to purchase a particular asset and then where the money went after that asset was sold or disposed of. If it did come from an illegal source, was there anything given in return?”

Orwig says investigators are combing through Price’s assets.

The commissioner’s 2010 personal financial statement, filed earlier this year, shows Price owns or co-owns seven properties in Dallas County. While two of the properties are houses, the rest are vacant lots.

Property records show a total value assessed at nearly $750,000.

Besides land, records show Price owns nine vehicles, one of those a 2005 Bentley. FBI agents searched the car late last month.

Price’s salary as commissioner is $130,000. The amount has increased over the 26 years he’s been in office. Back in 1991 his salary was reportedly $75,000.

During the FBI search, Price’s attorney confirmed that investigators reportedly found at least $100,000 in a safe inside Price’s house.

“It just prompts further inquiry. Why do you have it [the money]?” questioned Orwig.

CBS 11 Financial Analyst Jim LaCamp says he can’t speak to Price’s situation, but says in general, “I’ve been dealing with wealthy people for 25 years and none of this is consistent with the way wealthy people build wealth. You don’t have people sitting with $100,000 in a safe for example.”

Price’s attorney, Billy Ravkind, wasn’t in the office when CBS 11 News called Tuesday. But recently Ravkind has said he has hired forensics accountants to review Price’s finances.

“That’s what I’m doing now,” he said. “I found nothing. I found nothing. Zero.”

Price hasn’t been charged with any crime, and he and his attorney have denied any wrongdoing.

Price’s 2010 financial statement also shows he has several money market accounts and two mutual funds. The document also shows Price earns income from interest, dividends, and a rental property.

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One Comment

  1. Herbert says:

    CBS 11 Financial Analyst Jim LaCamp says he can’t speak to Price’s situation, but says in general, “I’ve been dealing with wealthy people for 25 years and none of this is consistent with the way wealthy people build wealth. You don’t have people sitting with $100,000 in a safe for example.”

    So having money inb your own safe is not consistent with wealthy people who wants to evade taxes and operate on a cash basis? Mr LaCamp apparently doesn’t know how these people think or act.

    1. The Banker says:

      You’re obviously not wealthy. Cash in a safe generates no income, is easily found in an investigation, and is not very portable, considering the amount. It’s all about offshore accounts in the Caymans or Canary Islands. This is why you are poor and THEY are not. You think like a simpleton when it comes to money.

      1. DDT says:

        I agree with The Banker. That $100K in the safe was obviously emergency money. I’m sure they’ll find millions more in other accounts, similar to the types of accounts and “tax shelters” mentioned by The Banker.

  2. edw13 says:

    LOL @ Marty. I agree, Price is a piece of work. But he doesn’t speak for all of ‘us’ black people. He has been in power much too long so much so, that he has forgotten why he was elected.

    Price doesn’t give a damn about whites or blacks, especially the ones in the southern sector or else he wouldn’t have tried to impede on the work TAG was doing. Prices is concerned about GREEN. If he doesn’t get his equity then you don’t get your job done.

    I believe at the end of the day a lot of heads are going to roll. Have you noticed you haven’t seen many people come to his aid? That’s probably because they are trying to see where they fit into this picture. There’s going to be a long line of names.

    Sit back grab your popcorn, get a beer, glass of wine, soda or water because this is going to be a show.

  3. Phil McKrackin says:

    JWP is a criminal and a thief and always has been. He is not a leader but a user of the black people of Dallas. You can not have the homes and cars that this man has on the income of a city council person of Dallas of 25 years. Corn rows does not equal a black leader. I do hope that this time the FBI has gathered enough evidence on this clown to put him away so that finally South Dallas can get someone after their interest instead of his own. Good luck to you guys the law and god is on your side not JWP’s side this time.

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