Illinois GOP Chairman calls on IRS to launch investigation of Giannoulias tax write-off

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Chicago, IL – Illinois Republican Party Chairman Pat Brady today called on the Internal Revenue Service (IRS) to launch an investigation into Illinois Senate candidate Alexi Giannoulias’ claim of a $2.7 million tax write-off, citing Giannoulias’ inability to prove he worked 500 hours in 2006 and the discovery of another inconsistency in Giannoulias’ previous statements.


After telling the Chicago Sun-Times he left Broadway Bank in September 2005, Giannoulias told the Chicago Tribune yesterday that he actually kept working at the bank through May of 2006, thereby qualifying him for a $2.7 million tax write-off for 2009.  However, Giannoulias could not provide details or documentation to prove his 2006 work schedule telling the Tribune, “I don’t know how the hours worked out, but it wasn’t a full-time job.”


Giannoulias’ most recent statement is further contradicted by Giannoulias’ appearance before the Sun-Times editorial board in December 2009 when he claimed he “left the bank” by the time news broke about Broadway Bank loans to mobsters in March 2006.


“Alexi Giannoulias’ story has changed so many times that unless he can provide documentation showing that he worked at Broadway Bank for 500 hours in 2006, the Internal Revenue Service should launch an immediate investigation,” Chairman Brady said.  “We are talking about a huge sum of money and the IRS should not accept ‘just trust me’ as a legitimate explanation.  With 34 days left before we elect a United States Senator, it is time for Alexi to start explaining.  Either he lied to the voters or he lied to the IRS.”


A PDF copy of Chairman Brady’s information referral to the IRS can be found here.

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