That isn’t the only problematic land deal Reid was involved with at the time. In 2002, he put
$10,000 into a pension fund controlled by another friend, Clair
Haycock. The payment gave Reid a sizable parcel of land in Bullhead
City, Ariz. According to the Los Angeles Times, Reid purchased the land
for one-tenth of its estimated value (and one-fortieth of what it had
sold for a decade earlier). Two actions created suspicion afterward.
First, Reid sponsored an $18 million earmark for a bridge that would
connect Laughlin, Nev., and Bullhead City. This bridge would likely
increase property values in the area. Reid also introduced legislation
that would benefit Haycock’s lubricant company. Reid aides denied that
his support for the earmark or lubricant dealer bill was related to the
land purchase. By 2011, Reid’s initial $10,000 investment was valued at
between $250,000 and $500,000. The property did not appear in his 2012
disclosure.
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