February 11, 2010, - 12:38 pm
The St. Louis Rams just announced that the team is being sold by relatives of late owner Georgia Frontiere to Shahid Khan, a Pakistani Muslim (who is named for Islamic martyrdom) from Illinois, who owns Flex-N-Gate Corporation, an auto parts manufacturer. But what’s interesting is that when Rush Limbaugh was a minority partner in a venture to buy the Rams, the NFL and its Commissioner, Roger Goodell, objected.
Not so with Khan, even though he’s had a number of questionable dealings with the IRS and tax problems. Normally those would be a problem with the NFL ownership committee. But maybe the NFL makes exceptions in the interest of Muslim affirmative action. Hey, it’s a good thing the football is no longer made of real pigskin, right? And in case you were wondering, his first name means “martyr,” as in martyr for Islam. Islamic terrorists call themselves shahids.
So who is Shahid Kahn? . . . He and his wife are involved in some on-going financial legal battles. . . . Khan and his wife, Ann, filed law suits last summer in Champaign County Circuit Court against several financial advisors. The couple claims they lost money when misled on tax-advantaged investment strategies. According to court records, the IRS investigated the Khan’s tax returns between 1999 and 2003. They found potentially abusive [DS: translation, "illegal"] tax shelters involving $250 million.
Khan says he and his wife, Ann, quickly paid back the IRS $68 million, but he also appealed the payment. The Khan’s battle continues this week with his former financial advisors. They are being sued for negligence and professional malpractice for suggesting the couple invest in “distressed debt”, a strategy to lower taxes by using weak foreign currency. The next court date is scheduled for March 23.
Like I said, conservative minority owners in the NFL–verboten; but Muslim tax cheats named for Islamic martyrdom–YAY! Gee, I wonder if Mr. Khan will denounce HAMAS and Hezbollah. Actually, I don’t wonder because I know the answer: don’t bet on it. And the spineless NFL and its owners won’t have the guts to ask him, either.
Tags: abusive shelters, abusive tax shelters, Ann Khan, auto parts, Champaign County Circuit Court, financial battles, Flex-N-Gate, Flex-N-Gate Corporation, FNG, illegal tax shelters, Illinois, IRS, Islam, Islamic martyr, Islamic martyrdom, Islamic owner, lawsuits, martyr, Muslim, National Football League, NFL, Pakistan, Pakistani, Roger Goodell, Rush Limbaugh, Shahid Khan, St. Louis Rams, suits, tax problems, taxes