Young updating filings to reflect farm stake, lease income

JUNEAU, Alaska (AP) — U.S. Rep. Don Young is updating his financial disclosures to show ownership in a family farm dating to the 1990s and income from oil and gas leases, omissions that a Young spokesman called inadvertent but that Young's Democratic rival in this year's election characterized as a betrayal of trust.

Young spokesman Matt Shuckerow said Monday that the failure to include the farm prior to his 2015 congressional financial disclosure was an oversight that became apparent after the 2014 death of Young's brother, Russell, and the subsequent sale of the property last year. In his 2015 disclosure, Young reported receiving between $250,001 and $500,000 as a result of the sale. Disclosure reports offer ranges to report such things as assets and liabilities.

Young became a partial owner of the farm after his mother died in 1990 but Russell Young operated the farm, Shuckerow said. The Republican congressman derived no income from farm operations but received some income from oil and gas leases, he said.

"For all intents and purposes this was his brother's farm," Shuckerow said. "But from time to time, as a legal stakeholder in the property, he was required to sign documentation and agreements involving use of the property and this included different business ventures made by Russell." Those included private property oil and gas leases, Shuckerow said, adding that it was Young's understanding that exploration never occurred.

(Source: www.pennenergy.com)