Rangel’s Interest Waived on Loan for Villa
Representative Charles B. Rangel paid no interest for more than a decade on a mortgage extended to him to buy a villa at a beachfront resort in the Dominican Republic, according to Mr. Rangel’s lawyer and records from the resort.
The loan was given to him by the resort development company, in which Theodore Kheel, a prominent New York labor lawyer, was a principal investor. Mr. Kheel, who has given tens of thousands of dollars to Mr. Rangel’s campaigns over the past decade, had encouraged the congressman to be one of the initial investors in the project.
Read more: (David Kocieniewski and David M. Halbfinger, “Interest Was Waived for Rangel on Loan for Villa,” The New York Times, 9/06/08)