John Wiley Price investigation about accounting

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by BYRON HARRIS

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WFAA

Posted on May 31, 2012 at 6:25 PM

Updated Thursday, May 31 at 8:12 PM

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Today News 8 got the answers we've been seeking since last summer when the investigation into John Wiley price began.

News 8 wanted to know what was the inquiry all about last summer?

Well, the court documents outline a list of allegations to include conspiracy to bribe, conspiracy to launder money and conspiracy to hide assets.

Last summer News 8 watched the process play out when box after box of evidence, multiple vehicles were searched and a safe, packed with what we now know was $229,000 expensive watches and other valuables, were all confiscated from Commissioner Price's home.

Price has not been charged with anything, but clearly the question from the government is how someone who makes a county commissioner’s salary has so many valuables.

This is all about accounting. The accounting including information from bank records, campaign donations, county contracts and what appears to be in John Wiley Prices various bank accounts and properties. The feds allege hidden income from bribery, conspiracy and money laundering.

It all goes back to the assets John Wiley Price had on record in the 1990's
Back in 1996, Price declared bankruptcy and had to state his assets. In that case the feds use his filings then, his known income since, and a number of accounts and records traceable to him now.

“They're tracing money and they're trying to line up when the money came out, when he took actions as a commissioner and how he used that money,” said Matt Orwig, attorney. “So this could involve some very serious transactions.”

Prices did not work alone, the feds assert. They document his long time assistant Dapheny Fain received money from various sources and funneled it to Price.

Federal document show a 1995 Bentley, one of several cars, was used to transfer money into an asset and back into cash again.
  
Another conduit, according to documents is political consultant Kathy Nealy. She is an official of Kwanzaa Fest, an organization that allowed big corporations to donate money that could be funneled to Price through Nealy. 

The affidavits alleged that Price, as county commissioner, then awarded contracts to some of those donor companies.
 

E-mail bharris@wfaa.com

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