Ohio Democratic Party
08/28/2024 | Press release | Distributed by Public on 08/28/2024 13:42
“New Controversy” For Bernie Moreno As He’s Caught Getting Back Into Car Dealership Business
"New Controversy" For Bernie Moreno As He's Caught Getting Back Into Car Dealership Business
August 28, 2024
WCMH: "A New Controversy…For Republican Senate Candidate And Former Car Dealer Bernie Moreno, Who Appears To Also Be A Future Car Dealer."
Columbus, OH - There's a "new controversy" for "former car dealer Bernie Moreno, who appears to also be a future car dealer" after he was caught "re-launch[ing] his family's high-end car sales business" despite telling Ohioans he "sold off all of his businesses to avoid conflicts of interest" for months.
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WCMH: "A new controversy…for Republican Senate candidate and former car dealer Bernie Moreno, who appears to also be a future car dealer. In new personal financial disclosures, Moreno reveals he is the manager of a realty business that paid more than $9 million for a 25 acre plot in Delaware County…the land is the future home of a Mercedes-Benz Dealership."
WCMH: "[T]he Republican candidate repeatedly said he sold all of his businesses to avoid the appearance of any conflicts of interest during his campaign…"
WKYC: "Ohio Republican Senate nominee Bernie Moreno is planning to build a new car dealership. A recent financial disclosure filed by him shows him managing two companies, including a realty business that is being developed into a Mercedes-Benz dealership."
WKYC: "In an interview with NBC News, Moreno confirmed his involvement… This comes after he had claimed that he sold all his businesses to avoid any conflicts of interest."
WFMJ: "A new report from NBC News says that Bernie Moreno…is preparing a return to the auto industry. The [financial disclosure] statement identifies Moreno as the manager of two companies, one of which is developing a new Mercedes-Benz dealership."
WFMJ: "Now, Moreno has said on several occasions that he sold off all of his businesses to avoid conflicts of interest while running for Senate. He confirmed his involvement, but tells NBC that he does not see this one as a conflict of interest since the company is not providing any income just yet."
WBDT: "In new personal financial disclosures, Republican Senate candidate Bernie Moreno reveals that he is the manager of a realty business that paid more than $9 million for a 25 acre plot in Delaware County. The land is the future home of a Mercedes-Benz dealership."
WBDT: "Democrats are now criticizing Moreno for the new venture, because he repeatedly said he sold off all of his businesses to avoid the appearance of any conflicts during his campaign."
WLWT: "…Republican, Bernie Moreno is preparing to return to the auto industry. This comes after Moreno said repeatedly he sold off all of his companies to run for US Senate… 'this is just another example of Moreno being not trustworthy.'"
Cleveland.com: Bernie Moreno pursues new business venture as he challenges Sen. Sherrod Brown, disclosure shows
Andrew J. Tobias
August 27, 2024
- Republican businessman Bernie Moreno is working to re-launch his family's high-end car sales business as he runs for U.S. Senate, recent financial disclosures show
- In April, a Moreno-controlled business spent $9.5 million to buy a 25-acre plot of land near an outlet mall in Delaware County off Interstate 71, about 10 miles north of Columbus. County records show Moreno took out a mortgage through Mercedes-Benz around the same time.
- Moreno and his wife, Bridget, meanwhile are worth between $17.9 million and $77.3 million - totaling the disclosed worth of their assets minus several mortgages. They made between $1 million and $6.9 million in income last year, mostly from dividends, interest and capital gains.
- After dropping out of the 2022 U.S. Senate race ahead of that year's Republican primary election, Moreno began exploring how to re-enter the business.
- That doesn't mean Moreno has liquidated his business holdings though. His disclosures show he and his wife own stocks, bonds, mutual funds and other shares of publicly traded and privately held businesses worth between $12.5 and $52.6 million.
- Among Moreno's business holdings are a stake worth $1 million to $5 million in the Yellowstone Housing Opportunities Fund, an affiliate of Yellowstone, a private equity firm run by Moreno's family that operates in Colombia and the U.S.
- In addition, the Morenos own shares of commercial real estate worth between $2.3 million and $11.1 million, including the site of the planned future Mercedes-Benz dealership outside Columbus.
- The report also says the Moreno's have between $2 million and $7 million in cash.
TiffinOhio.Net: Bernie Moreno plans new auto dealership after claiming to have sold all businesses to avoid conflicts of interest
August 27, 2024
- Ohio GOP Senate candidate Bernie Moreno is under scrutiny following revelations that he plans to open a Mercedes-Benz dealership in Delaware County, Ohio.
- As reported by NBC News, Moreno's recent financial disclosure indicates his involvement in two companies developing the dealership.
- This news comes despite Moreno's claims on the campaign trail that he had divested from all of his businesses to focus solely on his political campaign.
- "I got rid of all my operating businesses, anything that would have given me a conflict," Moreno said in an interview in May with Kitco News… "I knew defeating Sherrod Brown was going to be very difficult. What did I do? I sold every one of my businesses, made sure I had no conflicts of interest, so that I could focus my complete attention to do this," he said.
- During his campaign, Moreno has faced criticism for his past business practices as a car dealer. Groups have highlighted lawsuits against him over workplace discrimination and unpaid wages, using these issues to attack his credibility. Sen. Sherrod Brown, his Democratic opponent, has also criticized Moreno, accusing him of being disconnected from the needs of Ohio workers.
- According to NBC News, in his recent personal financial disclosure statement, a form that Senate candidates are required to file, Moreno listed more than 20 "business entities" as assets, including M20 Realty LLC, as well as other limited liability companies and limited partnerships.
Cleveland.com: Capitol Letter: Family tradition
August 28, 2024
- Republican U.S. Senate candidate Bernie Moreno is trying to relaunch his family's car-sales business as he runs for the U.S. Senate. Andrew Tobias writes that property records show a Moreno-connected business spent $9.5 million to buy plot of land near an outlet mall in Delaware County off Interstate 71 and took out a mortgage through Mercedes-Benz around the same time.
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