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Hearing Set On $17M Tarkanian Judgment

LAS VEGAS (AP) — Nevada Republican congressional candidate Danny Tarkanian is asking a federal judge in California to set aside a $17 million judgment against him and others stemming from a failed real estate deal.

The move comes as the Federal Insurance Deposit Corp. seeks repayment of a loan Tarkanian and others guaranteed for a developer through a family-owned businesses, Vegas Diamond Properties.

The developer filed for bankruptcy and the bank that made the loan, La Jolla Bank, was taken over by the FDIC. The agency sued the Tarkanians and others to recoup the loan plus interest.

Las Vegas political columnist Jon Ralston reports a hearing is set for Aug. 13 in San Diego.

Tarkanian won the June Republican primary for Nevada’s new 4th Congressional District.

He faces Democrat Steven Horsford in November.

(© Copyright 2012 The Associated Press. All Rights Reserved. This material may not be published, broadcast, rewritten or redistributed.)

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