Dalton Daily Citizen. “Allegations against Graves are serious.”
Dalton Daily Citizen on the Ninth District Race.
Letter: Suit against Graves is troubling.
Recent news regarding 9th Congressional District candidate Tom Graves has been incomplete or confusing. When a bank files an action in Superior Court that says you are insolvent and that you made a fraudulent transfer of property to avoid paying your creditors, those are serious allegations. As a former bank director and owner of several successful businesses, I can tell you that a bank won’t make such charges unless there are very good reasons behind their taking such an action.
This issue isn’t just about defaulting on a $2.2 million loan. This is about the alleged fraudulent transfer of assets by John T. (Tom) Graves Jr. as alleged in the lawsuit.
In this case, Bartow County Bank alleges that he defaulted on a bank loan in the amount of $2,252,367.09, that Mr. Graves’ liabilities exceeded his assets, and that he fraudulently transferred property with the intent to “defraud” the bank and payment on his original contract.
In this economy many people are having problems keeping their loans current, but it isn’t very often that a bank alleges that you, as a defendant, made a fraudulent transfer.
I have studied the public records in this case, consulted with an attorney who specializes in banking matters, read the responses from the defendants and various media accounts. My conclusion is that I must take issue with sending anyone to Washington to represent me and the voters/taxpayers of our district who is in the midst of such a personal crisis. The documents filed in the Superior Court of Gordon County show more than mismanagement of financial dealings with a bank.
Press releases from the candidate said this was a last minute attempt by other candidates to throw mud at him just before the previous runoff. This is misinformation, as this crisis existed as early as 2009 and has escalated to a formal lawsuit early in 2010.
Educate yourself and you decide. Is this the type person we want as our congressman? I don’t think so.
Ask your banker about the seriousness of this issue.
Follow this LINK to the Dalton Daily Citizen to read this article on their website.