MIAMI (AP) â€" The Securities and Exchange Commission is questioning a financing of a Miami Marlins' new downtown stadium.
SEC subpoenas to a city and Miami-Dade County are seeking a prolonged list of papers and records, including those involving meetings and communications between supervision officials and executives with a Marlins and Major League Baseball.
The executives embody baseball commissioner Bud Selig, ex-MLB president Robert DuPuy, Marlins owners Jeffrey Loria and a team's president, David Samson. Copies of a subpoenas, antiquated final week, were supposing Monday by city and county officials to The Associated Press.
"We are perplexing to establish either there have been any violations of sovereign holds laws," SEC Senior Counsel Drew Panahi pronounced in a minute concomitant a county subpoena. "The review and a summons do not meant that we have resolved that Miami-Dade County or anyone else has damaged a law."
The $634 million retractable-roof stadium, set to open for a 2012 season, has been argumentative from a start since some-more than three-fourths of a costs are being borne by taxpayers. More recently, Miami city officials lifted concerns about carrying to compensate a county $2 million in skill taxes for adjacent parking garages operated by a Marlins.
The 37,000-seat track is ushering in a new epoch for a Marlins, who altered their name and uniforms and have been on a spending debauch for high-level giveaway agents including ex-New York Mets shortstop Jose Reyes and new closer Heath Bell. The Marlins are also posterior St. Louis Cardinals luminary Albert Pujols.
City and county officials pronounced they would concur in a SEC probe, that requires papers to be incited over Jan. 6. It wasn't immediately transparent Monday if a Marlins also had perceived a subpoena; a group released a matter observant it was wakeful of those perceived by a city and county.
At baseball's winter meetings in Dallas, Loria pronounced a group will "work with a SEC and assistance them in any approach possible. It's an ongoing matter. We're there to be helpful, though we don't unequivocally wish to make any futher comments about it."
The parking garage taxation emanate is privately mentioned by a SEC. Investigators also wish annals about a Marlins' ability to minister to a track complex's financing, a team's revenues and profitability, and either any Marlins employees gave "any payments, loans, debate contributions or any offers of anything of value" to city, county or state supervision officials.
The SEC also wants minute information about a holds used to financial a track and either investors competence have been misled.
Not all SEC investigations finish in coercion actions, though coercion actions typically finish in settlements that can embody fines and other penalties. Investigators can impute people or companies to a Justice Department for intensity rapist prosecution.
The Marlins prevailed in a 2008 authorised plea to a financing devise mounted by billionaire Miami automobile play and former Philadelphia Eagles owners Norman Braman, who called it a gigantic taxpayer rip-off. Braman afterwards led a successful remember choosing debate in Mar that unseated Carlos Alvarez as a county's mayor.
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AP sports author Ronald Blum contributed to this story from Dallas.
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News referensi http://news.yahoo.com/sec-probes-financing-marlins-stadium-175958298.html
