Resource Center

A Billion - Dollar Bet

Number 21623
Subject Development
Source Baltimore Sun
State Maryland
Year 2004
Publication Date March 14-15, 2004
Summary This investigation showed how Baltimore developer David S. Cordish used tax-free municipal bonds to build two glitzy casino complexes for the Seminole Tribe in Florida. Tax-exempt bonds are supposed to be issued only for "essential government functions" and private developers are barred from benefiting from them. But, those regulations were being ignored, until these Sun reporters brought the deal into the spotlight.
Category Contest Entry
Pages 43
Keywords real estate;development;gambling;bonds;IRS;Internal Revenue Service;Auditors
Related Links None
Related Video None
Contest Questionnaires Only members can download contest entry questionnaires! Log in to get access.
Ordering info Want to place an order? Email us or call us at 573-882-3364 (Stories are only available to members of IRE. For membership information, please refer to our membership page)