Tarkanian settlement document reveals neither he nor FDIC gave any ground

I acknowledge I have been reluctant to write anything about congressional hopeful Michael Roberson’s campaign of posting damaging documents about Danny Tarkanian because:

  1. Roberson, following the advice he gave state Sens. Patty Farley and Becky Harris last cycle, is hiding and hoping (a strategy that may prove fatal against Tarkanian, who is well known).
  2. The Tark docs are old, although they have never been fully reported before, even though I wrote extensively (as did others) about his troubles stemming from a California real estate deal that caused the FDIC to enter a $17 million judgment against his family, which resulted in Tarkanian declaring bankruptcy before he paid off a half-million-dollar settlement.

I interviewed Tarkanian last week about the FDIC allegations, which essentially assert he hid assets through his family and other financial sleight of hand when he knew bankruptcy was coming. Tarkanian asserted to me last week that the FDIC threw the kitchen sink at him to get him to settle, and I have to say that I have experience with legal documents that state “on information and belief” and what follows can be fabricated.

Let’s settle on what we know – and I have two previously unseen documents below to enhance our knowledge:

The FDIC agreed to settle with Tarkanian more than a year ago – see the settlement agreement – with neither side backing off but Tarkanian agreeing to pay a little more than a half-million. Tarkanian asserts that they never would have settled for 1/34th of what he owed if the case was stronger, but they also may have reasonably believed they could not get more or prove more. Tarkanian said the FDIC “tailored" its complaint to make his life difficult, that he wrote checks to his parents to pay off loans, that his charity is clean and he can prove it.

Tarkanian said he has paid off the settlement – the other document, which is only from a couple of months ago, indicated the FDIC reassigned the payments. He filed bankruptcy last year – it was widely assumed he held off as long as he could to avoid hurting his political viability – but the debt appears to have been extinguished, along with the fire, although some might say – and I’d bet some experts would agree – that smoke remains.

Check out the documents for yourself.



Settlement Agreement.pdf by Jon Ralston

Settlement Agreement Executed.pdf by Jon Ralston