Price is Wrong

How John Wiley Price spun money he didn't have into real estate gold.

The one thing they say about federal time: You do have to do it. The feds won't give you a get-out-of-jail-free card. But in 1998 when notorious Dallas real estate swindler Danny Faulkner talked his way out of the pen after serving only four years of a 20-year sentence, nobody was surprised.

You don't go from illiterate house painter to Rolls Royce-driving, helicopter-owning, charity-ball-hopping celebrity and then to the pen for 20 years without some kind of a mouth. Faulkner, central character in a massive 1980s land fraud, talked authorities into believing he was dying of cancer. Six months to live. Please. Have mercy.

Faulkner was so grateful and delighted to be released, when he got home he experienced a miraculous remission and lived another 13 years. He died last May of pneumonia.

Jared Boggess

When he got out of the pen in '98 and returned to Forney, a small town due east of the city, Faulkner still owned land around the county. But he had a problem. The feds had locked up all of his property with criminal forfeiture liens.

At the time he was sent to the pen, authorities estimated Faulkner had duped his victims out of $100 million or more. They wanted some of that back. What they did not want was Danny Faulkner parading around Dallas in another Rolls while his victims gnashed their teeth. So anything he sold, the money went to Uncle Sam. That was the theory.

One of the first people Faulkner got back in touch with when he came home was a man from Forney who also had done well for himself in the big city, his friend and protégé Dallas County Commissioner John Wiley Price. Price, too, had a problem.

Commissioner Price, often described by the media as the most powerful black elected official in Dallas, had filed for personal bankruptcy two years earlier, a move that would eventually allow him to stiff creditors for a total of $372,022.53, according to court documents filed in the feds' ongoing money laundering and corruption investigation of Price.

It took Price five years to get out of bankruptcy court, during which time he was expected by the court to live the life of an austere penny-pinching penitent. That was the theory.

The court documents filed by the FBI and Justice Department in the Price corruption probe dig way back into those supposedly lean years and show him putting $30,000 Jaguars under his court assistant's name, money into a checking account he opened in his mom's name, and land under other people's names.

If any of those actions were a crime, the five-year statute of limitations should have run out long ago, but the statute of limitations in bankruptcy law is complicated. For some reason, the FBI seems to believe delving back into all of this now is worth the effort.

Last year when the FBI raided Price's home and offices, I told a story here that I had heard bits and pieces of for years, about some acreage on Grady Niblo Road in West Dallas way out by Mountain Creek Lake. I related how one day in 2003 Price bought that land from a guy named Wayne White.

Then the same day he bought the same land again from Dapheny Fain, Price's own administrative assistant. Only there was no public record of her ever having owned it. And anyway he just bought it the same day from the other guy. And anyway ... well, you get the picture.

But that was all I knew. I interviewed White, an antiques dealer from Forney who rented space from Danny Faulkner. He was what I would call a very unenthusiastic interviewee, but he did say a few things. According to the FBI documents on file now, I believe the story White told me last year was ... how to put it? ... incomplete.

White told me he and his ex-wife owned the land on Grady Niblo. Price sort of showed up all of a sudden wanting to buy it. Well, first the busy commissioner showed up in White's antiques store wanting to play dominoes. Well, he wanted to get in on the regular dominoes game that White played with his landlord and buddy, Faulkner.

And just to move this story along, I would ask you to mentally pencil in at this point about 10 paragraphs of blah-blah-blah. Some of the blah-blah is quite colorful having to do with Price wanting White to sell the land to a guy involved in jailhouse corruption stories so Price could buy it from the jailhouse corruption guy but White just being too straight and honest a Scout to do a thing like that. What? Yeah, well. Eventually, White very reluctantly sells Price the land.

Naturally I ask why, him being reluctant and this being America, he sold to Price. He says: "It will all come out what kind of person he is. He's just a con man. The only thing I want to say for him, you can print it, he's a Chicago politician in Texas."

Great answer. Doesn't make sense. Still a great answer for journalistic purposes.

Right now the feds want a judge to let them hold on to a bunch of money they have seized from Price, which they say is all ill-gotten gain. Price has answered all of those charges by saying they are false or he doesn't know what they're talking about.

1
 
2
 
All
 
Next Page »
 
My Voice Nation Help
8 comments
flow
flow

Racism doesn't work in this case.  Black people (of which I am) should stop claiming racism is at the root of this case.  If you read the FBI Documents and still believe it is racism, then it is clear why you continue to remain in that state of mind.

 

What goes around, comes around!  Greed is a form of disease thought and people who are greedy get caught up in their actions.

 

I wish no one anything bad but this case seems to be (from what I have intelligently read) pretty solid.

 

Thanks for the update!

feldnick
feldnick

This is a great city, no question about it.

trudat
trudat

...I apologize for my naivity and myopia but I just cannot see this "case" going much farther than a snails trail on a salt bed...especially in a jury trial in Dallas...it's too complex and dull and there are too many people with money who might slip on the bed of salt and fall...not to mention all the regular questions concerning racism, selective law enforcement...etc., etc.

TurdFerguson
TurdFerguson

Construction continues full steam on the Grady Niblo property.

 

marvin
marvin

I'm not excusing Price, but if you add a few zeros to the numbers, it sounds a lot like the TXU story by Brantley Hargrove from the other day, except nobody's going to jail in that case.

PerryMoore
PerryMoore

Instead of "John Wayne," I would have gone with "Black and White."

JimSX
JimSX topcommenter

 @trudat Try that in court, councilor.

MaxNoDifference
MaxNoDifference

Or SALT & PEPPER.   Ah, the wonderful memories of the "Sales And Leadership Team" and Unfair Park's version - "People Expecting Prompt Payment Envelopes Regularly".

 
Dallas Concert Tickets

Around The Web

Loading...