ATLANTA — Yesterday, in a front-page, above-the-fold bombshell report, the Atlanta-Journal Constitution revealed that Brian Kemp personally guaranteed $10 million in loans despite having a net worth of roughly half that amount. Worse, he refused to answer questions about his potentially criminal financial behavior 91 times while under oath.
If Brian Kemp can’t be honest about his own finances, how can we trust him to govern Georgia?
Excerpts of the article follow:
At 9 a.m. on July 19, Georgia Secretary of State Brian Kemp sat in his lawyer’s office in Carrollton. In just five days, the state’s Republicans would choose either Kemp or Lt. Gov. Casey Cagle as their candidate for governor. The race was widely viewed as a toss-up. But Kemp would be stuck in Carrollton for the next two hours and 27 minutes, trying to explain, under oath, why he shouldn’t have to repay a $500,000 loan.
By the time his deposition concluded, Kemp had answered “I don’t recall,” “I don’t remember,” “I don’t know,” or some variation at least 91 times.
“To the best of my knowledge,” Kemp replied to one question, “I don’t recall that.”
The deposition, not previously reported, underscored the political and financial perils Kemp faces from a lawsuit over a loan he personally guaranteed for an agricultural business in which he invested.
The monetary consequences could be even more dire for Kemp, records obtained by The Atlanta Journal-Constitution show. Kemp has promised to cover about $10 million in other loans for the now-struggling agricultural business — meaning that if the company defaults, he could be forced to make good on debts that far exceed his net worth of $5.2 million.
Three of those loans, totaling almost $700,000, come due in December. None is backed by collateral…