Original sentence: Harry Reid collected $1.1 million on land he owned through a limited liability company (LLC).In 2001, he transferred title of the  land to the LLC in exchange for a $400,000  equivalent ownership percentage of the LLC.In addition, Brown paid a small portion of Reid's taxes on the ownership stake.Reid continued to report to Congress that he still owned the land for 3 years after he transferred title to the LLC he partially owned.Reid's failure to disclose the earlier sale to a company owned by a friend and his subsequent ownership interest in the company violates Senate rules according to former Federal Election Commission overseer Kent Cooper.The deal was structured by long-time friend and former casino attorney Jay Brown,.When the LLC sold the land, Reid made a profit
Edited sentence: However, many media reports indicate the allegations are false.If it's determined that Reid failed to disclose the a sale to a company owned by a friend and his subsequent ownership interest in the company, it would violate Senate rules according to former Federal Election Commission overseer Kent Cooper.In 2001, it is alleged that he sold that land to the LLC for $400,000 in exchange for an equivalent ownership percentage of the LLC and, when the LLC sold the land, Reid made a profit.Some have accused Harry Reid of collecting a $1.1 million windfall on land he owned through a limited liability company (LLC).The allegations against Reid also claim that Brown paid a small portion of Reid's taxes on the ownership stake, and that Reid continued to report to Congress that he still owned the land for 3 years after he sold it to the LLC he partially owned.The deal was structured by former casino attorney Jay Brown, a long time friend who some had alleged was associated with political bribery and organized crime, although these claims have never been proven