FRANKFORT, Ky. – Gov. Ernie Fletcher has withdrawn as an investor in two Florida condominium developments but has other real estate investments in the Sunshine State.
Fletcher announced the business deals Monday afternoon in a press conference at which he released his annual financial disclosure statement.
The Florida deals he withdrew from partnered him with former Kentucky Republican Party treasurer Dave Disponett of Lawrenceburg, Russell Springs building contractor Stephen Branscum, and University of Kentucky basketball coach Tubby Smith.
Fletcher said he had chosen investments outside Kentucky to avoid the appearance of conflicts of interest. However, the issue arose anyway because Branscum’s construction company has worked on state-funded projects to build courthouses and
schools.
That’s why Fletcher said he opted out of the deals.
“I don’t want any hint of impropriety, and believe me there was none,” Fletcher said Monday.
Fletcher’s investments were listed in the annual disclosure report filed with the state Executive Branch Ethics Commission on Monday. All executive branch officials are required to list businesses in which they own an interest of at least $10,000.
Missing from Fletcher’s statement this year were investments of $42,600 in Bluegrass Investors LLC and $55,000 in Sanctuary Investors LLC, both of Destin, Fla. Those were the businesses he divested from.
In the Monday press conference, Fletcher said he opted out of the ventures in June. He said he received “virtually” the same amount that he had invested in the project.
Since then, he has invested in three other Florida condominium developments, none of which, he said, involves anyone with ties to state government. The new condo investments were with Louisville native Larry Becker who is managing the projects.
Becker’s companies, as listed on the financial disclosure form, are EL Properties LLC of Destin, Fla., Jaguar Properties of Jackson, Tenn., and Exquisite Management Co. of Destin Fla.
Fletcher said the money he put into the investments – between $160,000 and $170,000 – came from the sale of two homes, one in Lexington and one in Washington.
“There should be no concern about even the perception of impropriety here at all,”
Fletcher said.
Records of the Kentucky Registry of Election Finance show that Branscum contributed $3,000 to Fletcher’s 2003 campaign for governor and $5,000 to Fletcher’s inaugural committee. Last year, Fletcher appointed Branscum to a seat on the UK board of trustees.
Disponett has contributed at least $13,000 to Kentucky Republican committees and candidates since 2002.
Becker’s name doesn’t appear in the list of contributors to the Fletcher gubernatorial campaign.
Source : http://frontier.cincinnati.com/
Fletcher announced the business deals Monday afternoon in a press conference at which he released his annual financial disclosure statement.
The Florida deals he withdrew from partnered him with former Kentucky Republican Party treasurer Dave Disponett of Lawrenceburg, Russell Springs building contractor Stephen Branscum, and University of Kentucky basketball coach Tubby Smith.
Fletcher said he had chosen investments outside Kentucky to avoid the appearance of conflicts of interest. However, the issue arose anyway because Branscum’s construction company has worked on state-funded projects to build courthouses and
schools.
That’s why Fletcher said he opted out of the deals.
“I don’t want any hint of impropriety, and believe me there was none,” Fletcher said Monday.
Fletcher’s investments were listed in the annual disclosure report filed with the state Executive Branch Ethics Commission on Monday. All executive branch officials are required to list businesses in which they own an interest of at least $10,000.
Missing from Fletcher’s statement this year were investments of $42,600 in Bluegrass Investors LLC and $55,000 in Sanctuary Investors LLC, both of Destin, Fla. Those were the businesses he divested from.
In the Monday press conference, Fletcher said he opted out of the ventures in June. He said he received “virtually” the same amount that he had invested in the project.
Since then, he has invested in three other Florida condominium developments, none of which, he said, involves anyone with ties to state government. The new condo investments were with Louisville native Larry Becker who is managing the projects.
Becker’s companies, as listed on the financial disclosure form, are EL Properties LLC of Destin, Fla., Jaguar Properties of Jackson, Tenn., and Exquisite Management Co. of Destin Fla.
Fletcher said the money he put into the investments – between $160,000 and $170,000 – came from the sale of two homes, one in Lexington and one in Washington.
“There should be no concern about even the perception of impropriety here at all,”
Fletcher said.
Records of the Kentucky Registry of Election Finance show that Branscum contributed $3,000 to Fletcher’s 2003 campaign for governor and $5,000 to Fletcher’s inaugural committee. Last year, Fletcher appointed Branscum to a seat on the UK board of trustees.
Disponett has contributed at least $13,000 to Kentucky Republican committees and candidates since 2002.
Becker’s name doesn’t appear in the list of contributors to the Fletcher gubernatorial campaign.
Source : http://frontier.cincinnati.com/
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