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Federal Probe Into Marlins' Stadium

The U.S. Securities & Exchange Commission is investigating the financing surrounding the building of the new Miami Marlins stadium.

It appears the federal government has some questions regarding the financing of the new Miami Marlins ballpark, a stadium that the county and city paid almost 80 percent of the $634 million tab to build. Via the SunSentinal.com:

Federal authorities have opened a wide-ranging investigation into the Miami Marlins' controversial ballpark deal with Miami-Dade County and the city of Miami, demanding financial information underpinning nearly $500 million in bond sales as well as records of campaign contributions from the Marlins to local and state elected leaders.

In a pair of lengthy letters delivered to government attorneys Thursday, the U.S. Securities & Exchange Commission gave the city and county until Jan. 6 to deliver everything from minutes of meetings between government leaders and Marlins owner Jeffrey Loria and Major League Baseball Commissioner Bud Selig, to records of Marlins finances dating back to 2007.

The original stadium deal cost former Miami-Dade Mayor Carlos Alvarez his job, and now the city faces a second SEC investigation, as they are already embroiled in a bond investigation that has cost $1.4 million thus far.

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