Gov. Bill Haslam didn’t plainly disclose loan to developer

June 24th, 2011 Luke Mofflin Leave a comment Go to comments

NASHVILLE – Gov. Bill Haslam personally guaranteed a loan for up to $5.5 million while he was mayor of Knoxville to a prominent local developer, and did not plainly disclose the arrangement on his ethics disclosure forms.

Haslam, who rolled back disclosure requirements for top state officials shortly after taking office, also did not disclose the sale of his multimillion-dollar stake in a pawnshop chain that had two stores operating in Knoxville.

Haslam promised last week to amend his ethics form to reflect the sale of the stock, but he said he attempted to abide by the state’s disclosure requirements in both instances. The governor said he has never used his elected office to increase his personal wealth.

According to the governor, the loan arrangement with Knoxville developer Budd Cullom was listed on his 2010 disclosure form as income from Holrob Inc., which is the name of a real estate company that acted as a co-guarantor.

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