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Guess how much a successful ophthalmologist like Rand Paul makes in a year? Just $46,143, according to his personal financial disclosure (Warning: PDF Link). Not sure how someone who lives in a $500,000 home in a gated community can pay his bills on just $46K. He’s got rental property and an LLC in Bowling Green that paid him $176,223 – along with “royalties,” however. Whatever “royalties” means.
He owns two properties in Bowling Green. One valued at up to $500,000 from which he received up to $100,000 in rent and another valued up to $100,000 for which he received up to $15,000 in rent. He’s also got a condo in Destin, Florida valued at up to $250,000 from which he received up $15,000 in rent. He apparently bought it (Warning: PDF Link) from his in-laws. But the deed was so fishy, the closing attorney wouldn’t take ownership of the paperwork – see page 2.
He owes up to $250,000 on the condo and up to $250,000 on his medical office.
Rand lists himself as president of Alchemy, LLC, a Bowling Green entity through which much of his income seems to flow (related note: his U.S. Senate campaign uses the Alchemy address as its headquarters, yet it’s never paid rent and has never reported an in-kind contribution from Alchemy). His wife, Kelley, his father, Ron, and Ronnie Paul are all members. Interestingly, though, Ron hasn’t listed Alchemy, LLC on his own financial disclosure in the last five years.
Does Alchemy, LLC own all of Rand’s metals stocks and such? Just like all the metals and gold interests and such his father owns?
Some of the highlights from the elder Paul’s PFD:
- Agnico Eagle Mines Common Stock worth up to $100,000
- Alumina Common Stock worth up to $15,000 with up to $1,000 in income
- AngloGold Ashanti LTD (formerly Golden Cycle Gold Corp) worth up to $250,000
- Apollo Gold Corp worth up to $15,000
- Barrick Gold Corp Common stock worth up to $250,000 with up to $2,500 in income
- Claude Research Inc. C Stock worth up to $15,000
- Coeur D’Alene Mines Corp worth up to $15,000
- Eldorado Gold Corp worth up to $50,000
- Gold Corp Inc. Class A worth up to $500,000 with up to $2,500 in income
- Golden Star Res Ltd worth up to $15,000
- Great Basin Gold Ltd worth up to $15,000
- IAM Gold Corp worth up to $100,000 with up to $200 in income
- Kinross Common Stock worth up to $50,000 with up to $2,500 in income
- Lexam Explorations Inc. worth up to $1,000
- Mag Silver Corp worth up to $50,000
- Metalline Mining Co. worth up to $15,000
- Newmont Mining Corp C Stock worth up to $250,000 with income up to $2,500
- Pan American Siler worth up to $50,000
- Capital gains from Pan American Silver Warrants for a $27,440 transaction
- Silver Wheaton Corp Common ISIN worth up to $15,000
- Virginia Mines Inc. Common Stock worth up to $15,000
- Vista Gold Corp Common Stock worth up to $1,000
- Viterra Inc Com (formerly Saskatchewan Wheat Pool Inc ISIN) worth up to $15,000
- Wesdome Gold Mines Ltd worth up to $15,000
You’ll probably want to read the rest after the jump – especially if you’re foaming at the mouth in your meemaw’s basement…
Rand loves to tout that he founded Kentucky Taxpayers United. And on the campaign trail, he’s quick to point out that KTU has raised tons of cash and given it to candidates over the years. So why was the organization dissolved ten years ago and why has it never filed a 990? He and his wife say they’re the reason Brett Guthrie was first elected to the State Senate. So it makes no sense that an organization that influential would just buck legal requirements like pat-a-cake.
Rand doesn’t list that he’s President of the National Board of Ophthalmology, Inc. – a Kentucky Non-Profit Corporation. His wife, Kelley, is listed as Vice President and Hilton Ashby (his father-in-law) is listed as Secretary. His financial disclosure indicates that he owes Ashby up to $250,000.
I took at look at the 2009 annual report (Warning: PDF Link) for NBO and, strangely, he changed the address for his wife, father-in-law and himself to Portsmouth, Ohio. An address that’s home of Revolutionary Championship Wrestling, operated by Dirk “Extreme” Cunningham, a professional wrestler of some sort. No clue why. No clue why you’d try to change the address of an organization you’re super-proud to be a part of. Especially since addresses didn’t change on the Secretary of State’s site. (Note: The non-profit was administratively dissolved for some odd reason in 2000 only to be reinstated in late 2005.)
Upon digging further into NBO, one finds that it’s barely existed aside from it’s non-profit filing. There are no 990s filed (just like there are none for Kentucky Taxpayers United or whatever it’s called). But an article in 2004 says NBO was providing a much cheaper and affordable online test – apparently as an alternative to getting board certifications through, you know, an actual board. Interestingly, Rand Paul isn’t listed as a certified ophthalmologist with the American Board of Medical Specialties. He’s apparently just an MD.
Is NBO pulling a scheme like this one, where the organization provides a sham certification in exchange for money so you don’t have to pay exorbitant licensing fees every ten years in an attempt to give patients the appearance of certification? Because there’s no other excuse for not participating with the American Academy of Ophthalmology. If there are other doctors who don’t want to take an examination from the AAO, have they paid Rand Paul dues? Is he just sitting on cash that goes unreported?
What does all this mean? Way too many questions and variables that don’t pass the proverbial smell test.