BAD NEWS BERNIE: Moreno Reports “Substantial” Investment In Family Enrichment Scheme & Ohioans Read The REAL Story Behind Phony “Self-Made” Tale

BAD NEWS BERNIE: Moreno Reports "Substantial" Investment In Family Enrichment Scheme & Ohioans Read The REAL Story Behind Phony "Self-Made" Tale

August 23, 2024

Columbus, OH - It's been nothing but bad news for Mega Millionaire Bernie Moreno since new reports this week shed light on Moreno's massive fortune worth up to $172.7 million and that he benefited from "much-needed handout[s]," "special favors," and family cash to build his network of car dealerships. Whether it's the investment in his family enrichment scheme or supporting a tax plan that "primarily benefits wealthy Americans like himself," Ohioans know that Bernie Moreno is only out for himself.

NEED-TO-KNOW THIS WEEK:

• New reporting details that while Moreno has made an "​​up-by-the-boostraps tale" central to his campaign and claims he "built his car dealer empire all on his own," "the reality is more complicated." Mother Jones found that Moreno actually received "much-needed handout[s]," "special favors," and "financial assistance" from Mercedes-Benz throughout his career and even "leveraged his family connections" and the "Moreno Family cash reserves" to enrich himself.

• Bernie Moreno's investment in a private equity fund tied to a family enrichment scheme using taxpayer dollars has "grown substantially" and is now up to $5 million.

• Bernie Moreno supports a tax plan that would put "wealthy people and big corporations" ahead of Ohio workers and families.

MORENO GOT BY WITH A… LOT OF HELP FROM HIS FRIENDS: Bernie Moreno tells a "​​up-by-the-boostraps tale" on the campaign trail and claims he "built his car dealer empire all on his own," but new reporting from Mother Jones found that Moreno actually received "much-needed handout[s]," "special favors," and "financial assistance" and even "leveraged his family connections" and the "Moreno Family cash reserves" to grow "enormously rich." Plus, Moreno continues to be "dogged" by lawsuits for refusing to pay his employees and going so far as to deliberately destroy evidence to get out of paying them. Read more from Mother Jones here:

• Mother Jones: "The up-by-the-bootstraps campaign trail story belies a more complicated reality."

• Mother Jones: "…Moreno has been dogged, too, by questions about how he made his money… Moreno shelled out more than $400,000 to settle a wage-theft lawsuit in Massachusetts in which 'he was forced to admit to shredding overtime-­payment records.'"

• Mother Jones: "The South Florida case offered a glimpse of the breaks that helped Moreno climb to the top of the profession. He drew the ire of rival dealersby collecting millions of dollars in financial assistance from manufacturers to open new storefronts, and he testified that Mercedes-Benz hadpulled strings to get him a sweetheart deal on his very first Ohio dealership."

FAMILY ENRICHMENT SCHEME CONTINUES: Recent reporting revealed that Bernie Moreno's investment in a private equity fund tied to a family enrichment scheme using taxpayer dollars has "grown substantially" and is now up to $5 million since last year despite selling a parcel of land in Costa Rica worth up to $5 million. Reports found Moreno has also purchased five new homes in the last year. Now, Moreno owes Ohioans answers about his finances and business dealings.

1. Will you make the details of your investments in Yellowstone Capital Partners available for Ohioans to see?

2. How much money did you make by selling the property you were a "majority owner" of in Costa Rica? Will you make the details of the sale public?

3. Will you disclose all of the information about business entities registered to your name?

4. Did you pay yourself back the full $3 million you loaned your campaign earlier this year using campaign contributions from your wealthy donors?

OUT FOR HIMSELF: In the same week a report reveals Moreno owns assets worth up to $172.7 million and would be the fifth wealthiest Senator if elected, more reporting highlighted that Bernie Moreno supports a tax plan that "primarily benefits wealthy Americans like himself," the latest example of Moreno only looking out for himself and putting "wealthy people and big corporations" ahead of Ohio workers and families.

PANTS ON FIRE ALERT: A new ad is repeating the false claims Bernie Moreno has made and independent reporting has consistently found to be false, including multiple reports that have detailed the Moreno family's "considerable wealth" and "deep political connections" to the many "special favors" he received to build his business.

️ WHAT OHIOANS ARE READING THIS WEEK:

• Mother Jones: "[Moreno] settled more than a dozen claims of wage theft at his dealerships in the commonwealth, along with a host of other complaints from former employees…"

• Ohio Capital Journal: "…if elected, [Moreno] will likely be among the wealthiest men serving in Congress because of his business holdings."

• TiffinOhio.net: "[Moreno] has endorsed a national abortion ban that would counter Ohio's voter-approved protections."

• Scioto Valley Guardian: "Moreno's financial standing and his real estate investments highlight a potential disconnect between his campaign rhetoric and the economic struggles of his constituents."

• WVXU: "…multi-millionaire car dealer Bernie Moreno, carries his own baggage into the campaign - including multiple former employees suing him for refusing to pay them overtime they say they are entitled to."

• The Statehouse News Bureau: "[Ohio AFL-CIO] will highlight wage theft lawsuits that Moreno settled with former employees, his stated opposition to a minimum wage and other union concerns."

TWEET OF THE WEEK:

CODA: "Fact-check before you believe Moreno's words."

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