State Sen. Troy Fraser may have violated ethics rules when he failed to report to the state Ethics Commission his purchase of land on Lake Lyndon B. Johnson in 2000 and the sale of the land a year later to his friend, Gov. Rick Perry.

Texas Tribune is reporting this morning a review of financial disclosure forms for Fraser, R-Horseshoe Bay, for those years failed to show a record of a purchase or a sale. While the failure to disclose all interests in real property is a violation of ethics rules, the commission does not have the authority to fine Fraser for a matter that is 10 years old, the Tribune says. 

The story is the latest in an examination of Perry's past land deals. The Dallas Morning News on Sunday reported that Perry may have made almost $500,000 through deals "enhanced by a series of professional courtesies and personal favors from friends, campaign donors and the head of a Texas family with a rich history of political power-brokering." The newspaper hired appraisers who suggested Perry bought property below market value and sold it well above market value.

In a brief interview with the Morning News, Perry said every land deal he made while in office "has been open and honest, and at arm's length."