Recently on Cocktails & Popcorn, we took a look at Those Pesky Trust Funds and land banks with John Engler, Brian Calley and campaign finance.Well, it seems Calley is going for the jugular, hitting Schuette on his blind trust.
We have a sitting State Attorney General who took an oath on, basically, not to use his office for personal inurement, what some may find a bit more clarification in the understanding of emoluments.
The thing that got me was not the registration of Bill's corporation, Vircom, L.L.C. where he was the Grantor, but Ditleff Point Lots, a Group S, L.L.C., registered in Delaware, with the exact same addresses.
From Wikipedia:
An S corporation, for United States federal income tax purposes, is a closely held corporation (or, in some cases, a limited liability company (LLC) or a partnership) that makes a valid election to be taxed under Subchapter S of Chapter 1 of the Internal Revenue Code. In general, S corporations do not pay any income taxes. Instead, the corporation's income or losses are divided among and passed through to its shareholders. The shareholders must then report the income or loss on their own individual income tax returns.
Why does Bill have a Delaware corporation?
What, is Michigan LARA not good enough for you?
Is Bill a Corporate Shape Shifter?
Did I just find out why Bill called me a "Public Nuisance"?
Oh, those pesky trust funds. They seem to becoming a bit of an interest as of lately.
Brian Calley alleges AG Bill Schuette violated 'blind trust' pledge
EAST LANSING — Attorney General Bill Schuette continued to have a hands-on role in business dealings, despite his claims he put his assets in a blind trust when he took office in 2011, Lt. Gov. Brian Calley charged Thursday.
Schuette, confronted by Calley with the accusations at a candidate forum on Thursday, said the allegations are false and accused Calley of desperation in his campaign for governor.
The Calley campaign released documents showing Schuette signed deeds in 2014 transferring real estate between Schuette businesses.
The deed records transfer real estate in the U.S. Virgin Islands from Vircom LLC, where Schuette signed as the company manager, to Ditleff Points, Group S, LLC, which lists its corporate address as Schuette's home address in Midland.
Later on Thursday, Calley campaign consultant John Yob retweeted images of another Vircom deed transfer record, from 2017, also signed by Schuette.
The Calley campaign released additional records they say show Schuette similarly directed offshore sales in 2012 and 2013.
"He's been directing the purchase, transfer of millions of dollars in offshore assets while attorney general," Calley alleged at the candidate forum hosted by the Michigan Press Association.
Schuette denied the allegation.
"Brian, you go around the state ... making false allegations," Schuette shot back.
"All my assets are in a blind trust."
Schuette wouldn't comment on the companies or transactions when approached after the candidate forum. He later issued a statement that said the transactions related to property holdings in the U.S. Virgin Islands and Colorado that he and his two sisters inherited from their parents. The transactions represent the sale of some parcels in the Virgin Islands, which were never included in the blind trust because it was family property, Schuette said.
More stories:
The Calley campaign issued a news release saying the transactions show "a stunning level of hypocrisy" by Schuette.
"What else is Bill Schuette hiding?"
When Bridge Magazine earlier this year asked all candidates to make certain financial disclosures, Schuette released his federal tax return, as he has each year. But he declined to make an asset disclosure, citing his blind trust.
Calley made an asset disclosure similar to the ones federal officeholders file.
Schuette said at the forum that "we need to have openness and transparency." He said he releases his tax return each year, and also made asset disclosures when he was a member of Congress.
"When we pass the law on financial disclosure (in Michigan), I'll do it," Schuette said.
Several hours after the forum, his campaign strategist John Sellek said Calley is "continuing to make negative and false attacks," and thereby "diminishing the office he holds and more importantly, the one he seeks to occupy."
Calley campaign spokesman Michael Schrimpf said Schuette "lied multiple times about his financial holdings, and now he wants voters to believe that selling millions of dollars in real estate for his own benefit poses no potential for conflicts of interest."
Bll Schuette Warranty Deed 2014 by Beverly Tran on Scribd
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