Tuesday, June 26, 2007

Weller strikes gold in Nicaragua

Who knew Jerry Weller was such a clever investor? Over a period of three years he reported purchasing 3 lots in Nicaragua, probably spending in the neighborhood of $300,000. In the last year he reports consolidating and subdividing his property, and selling some of the subdivided lots. His income from property sales last year can be estimated at $350,000; the value of the unsold lots is over $500,000, and can be guesstimated at $800,000. Good work, if you can get it.

Still unexplained is why Frank Smyth found six lots in Weller's name as early as 2005. (Smyth also reported that Weller had partners in at least one of the lots.)

Weller financial disclosure, 2006
Weller exemption letter, 3/2007
Weller financial disclosure, 2005
Supporting documents collected by Frank Smyth
[our estimates of property values are inferred from the value ranges reported in the disclosures]

For entertaining reading, check out the last page of the 2006 disclosure, where Jerry claims to know nothing about his wife's finances in Guatemala, and notes that he will not inherit any of her assets.