Marlins Stadium Deal Now the Target of Federal SEC Probe

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​Maybe federal investigators finally got around to reading our piece about the six biggest lies behind the monumentally awful Miami Marlins stadium deal? Whatever the motivation, the Securities and Exchange Commission has subpoened the City of Miami and Miami-Dade County for financial information about the $500 million in bond sales underpinning the stadium.

The deal leaves taxpayers on the hook for a huge portion of the stadium's cost at ridiculous interest rates, and the feds want to know whether politicians and/or the Marlins owners broke any laws in negotiating the package.   

"We are trying to determine whether there have been any violations of the federal securities laws," SEC senior counsel Drew Panahi tells the Herald.

The feds request includes communications between the Marlins and city officials in the years leading up to the stadium deal, the Herald reports. 

The feds may be looking into whether city and county officials truly had no insight into the team's finances -- which they've always claimed -- while working out the deal.

Check out our full story on why the deal is rotten for taxpayers -- and if you know a federal investigator, maybe pass it their way while you're at it.

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3 comments
Drake Mallard
Drake Mallard

what a waste of tax payer money.

Welcome to the American dream--a billionaire using public fundsto constructa private playgroundfor the rich and powerful.

Before the March 2000 session, Rubio was hardly the scorching conservative who would later woo Tea Partiers nationwide. He said he'd focus on supporting early education and community policing. And he wasn't particularly passionate about cutting spending. In his first three years, he supported adding a $4 surcharge to cruise tickets to fund a Marlins stadium and a $1.2 million earmark to build new bike paths in his district

Jstein603
Jstein603

They should really look into the relationships between Javier Souto (former Penelas Chief of Staff) Alfredo Mesa (another Penelas do boy and now Executive with the Marlin's foundation a job created as payback) and George Burgess.  This scheme was cooked up a long time ago in County Hall.  Request all emails between them back then and any and all communication between Burgess and these clowns.

jagua2010
jagua2010

What took the federal authorities so long to get off their butts?!! Could any criminal deal ripping off the Miami Dade citizens been more obvious! Your late FEC!!

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