Frankly I am not sure what you're talking about, no one, not a single person is accusing Harry Reid of illegal real estate transactions or tax fraud. His purchase of the land was 100% legal, the transfer to the LLC was 100% legal, the land sale to real estate developers was also absolutely legal. No one is questioning the legality of these actions. The tax authorities don't seem to have a problem with the deal either. The only thing he's been accused of so far was that he did not report the transfer to appropriate senate committees (he did report the land purchase and sale though) and kept listing the property as his own when it actually belonged to the LLC. But given the fact that he could not possibly benefit or profit from hiding the fact of transfer this impropriety appears to be minor, technical and completely inconsequential.
You're right. It's a good thing for the leader of the Democrats to be in secret land deals with casino lawyers who were investigated for mob ties. Just keep sipping that Kool-Aid.
"Dick Smothers' character, Senator, is partly based on Nevada Senator Harry Reid, who was chairman of the Nevada Gaming Commission. The scene in which Sam Rothstein is denied a license by the Nevada Gaming Commission is based on a December 1978 hearing when Harry Reid was the commission's chairman; some of Reid's statements are used in Smothers' dialogue. The scene was shot in an actual courtroom in the Clark County Courthouse, which was later closed in 2005." http://www.imdb.com/title/tt0112641/trivia