Does Rand Paul Have Something To Hide?

Note to new readers: Please visit our front page for more on Rand Paul.

Original story below…

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.

56 thoughts on “Does Rand Paul Have Something To Hide?

  1. So again, why is no one discussing the non profits Rand Paul formed, then didn’t file the required tax forms. Or why not discuss the National Board of Opthamalogy. I’m sure all of the Paul supporters on here can certainly provide a lot of explanations since you’ve known about it for so long. He created this group in 1999. This is the man you’re supporting for the US Senate. At least explain what kind of group it is. Why it’s exempt from filing taxes and what it does. Come on, this should be pretty easy for a candidate you’re supporting for the US Senate and for something he’s been involved with for over 10 years.

    I’m sure there’s plenty of footage on youtube about Rand discussing it, or that the campaign has put on his website, or where Rand discussed it with supporters. It’s a National Board, surely someone out there can tell everyone what it does.

  2. may 18th looms! oh joy! we have a leaking
    BP platform and a potus trying to be more
    presidential than the “W” as the derby semi
    ignors the Stately Victor who WAS the blue
    grass dark horse! is jack conway’s most “fav”
    stud a metaphor for what the primary and
    then the fall election will do for his master?
    Jake, why do you doubt St. Rand will question
    fat cat money once he gets to D.C and sits in
    Bunning’s seat? surely the voters are in an
    anti-D.C mood and A.G jack conway is a runner
    up to this. too many more fatcat dinners and
    he morphs into lt. dan and trey grayson…

  3. My guess is that Rand Paul will be the next Jim Bunning if he wins, a guy who spends most of his time tilting at windmills, acting angry about what’s going on, and ignoring the needs of a state which he seems to know little about.

    Reading this, it makes me wonder if Rand Paul’s not found an excellent way to avoid taxes himself. Has Randy released his tax returns to see how $46,000 matches up with his real income? Even if that is his AGI, I’d have to think that means he has a LOT of deductions.

    Also troubling is his National Board of Optometry. It would be nice to hear him explain this. I understand that there are doctors who are not board certified in their specialties, but you have to wonder why Randy isn’t. Was he incapable? Lazy? Could this explain why Randy’s always concerned about the “Establishment”, because he couldn’t live up to someone else’s high standards?

  4. And he’s paying a mortgage to In-laws? Does this enable him to write off that interest? If so, then THAT seems fishy.

  5. Most of the Republican base constituents in Kentucky don’t understand this stuff, much less care. They are uneducated, uninformed sheep.

  6. The Tea Party folks are confirming their general lack of intellectual curiosity. Dr. Paul is just a shill for corporate interests and his positions are vintage crackpot.

    They reflect a Palinesque inability to think anything through to a logical conclusion. Kill the Dept of ED and you kill higher and post-graduate education. Killing the Fed would kill the world’s economy. All this one world order UN-stealing-sovereignty is not only fringe but mirrors the views of StormFront.

    This IS the guy who embraces/embraced the ridiculous conspiracy theories about the NAFTA Superhighway-North American Union-Amero currency.

    I, too, would like to withdraw all of our overseas troops but that’s not enough to get me to vote for a crazy person.

Comments are closed.