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Justice Thomas’s R.V. Loan Was Forgiven, Senate Inquiry Finds
Posted by: Speedy
Date: October 25, 2023 05:41PM
The justice failed to repay much, perhaps all, of the $267,230 loan. His benefactor wiped the slate clean, with ethical and potential tax consequences.

[www.nytimes.com]

The terms of the private loan were as generous as they were clear: With no money down, Justice Clarence Thomas could borrow more than a quarter of a million dollars from a wealthy friend to buy a 40-foot luxury motor coach, making annual interest-only payments for five years. Only then would the principal come due.

But despite the favorable nature of the 1999 loan and a lengthy extension to make good on his obligations, Justice Thomas failed to repay a “significant portion” — or perhaps any — of the $267,230 principal, according to a new report by Democratic members of the Senate Finance Committee. Nearly nine years later, after Justice Thomas had made an unclear number of the interest payments, the outstanding debt was forgiven, an outcome with ethical and potential tax consequences for the justice.

“This was, in short, a sweetheart deal” that made no logical sense from a business perspective, Michael Hamersley, a tax lawyer who has served as a congressional expert witness, told The New York Times.

The Senate inquiry was prompted by a Times investigation published in August that revealed that Justice Thomas bought his Prevost Marathon Le Mirage XL, a brand favored by touring rock bands and the super-wealthy, with financing from Anthony Welters, a longtime friend who made his fortune in the health care industry.



Saint Cloud, Minnesota, where the weather is wonderful even when it isn't.
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Re: Justice Thomas’s R.V. Loan Was Forgiven, Senate Inquiry Finds
Posted by: jonny
Date: October 25, 2023 10:26PM
Dude is crooked as a barrel of fish hooks.
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Re: Justice Thomas’s R.V. Loan Was Forgiven, Senate Inquiry Finds
Posted by: Speedy
Date: October 25, 2023 10:31PM
The nice thing is that it will be hard to participate in the conferences the justices have when he is behind bars, no impeachment necessary. Unlike Hunter, this crook has a higher duty to obey the law.



Saint Cloud, Minnesota, where the weather is wonderful even when it isn't.
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Re: Justice Thomas’s R.V. Loan Was Forgiven, Senate Inquiry Finds
Posted by: Acer
Date: October 25, 2023 10:36PM
Nice work if you can get it.
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Re: Justice Thomas’s R.V. Loan Was Forgiven, Senate Inquiry Finds
Posted by: pdq
Date: October 26, 2023 07:09AM
What’s the point of being on the SCOTUS if you can’t cash in, big-time?
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Re: Justice Thomas’s R.V. Loan Was Forgiven, Senate Inquiry Finds
Posted by: Lizabeth
Date: October 26, 2023 10:02AM
TAX MAN COMETH??

I hope so...
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Re: Justice Thomas’s R.V. Loan Was Forgiven, Senate Inquiry Finds
Posted by: Speedy
Date: October 26, 2023 10:56AM
Quote
Lizabeth
TAX MAN COMETH??

I hope so...

Too late for taxes or an indictment.



Saint Cloud, Minnesota, where the weather is wonderful even when it isn't.
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Re: Justice Thomas’s R.V. Loan Was Forgiven, Senate Inquiry Finds
Posted by: btfc
Date: October 26, 2023 11:00AM
Lock him up!
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