Gov. Sonny Perdue is facing $21 million in personal debt after he took out a massive loan last year for his two agricultural businesses. The Atlanta Journal-Constitution reported that public records reveal the governor got the loan from AgGeorgia Farm Credit in Perry on collateral worth just 19 percent of the loan's value. The loan is due by March 1.
Because he is not running for office again, Perdue is not required to disclose the details of the loan. The loan is worth almost three times his personal assets of $6.1 million, which he disclosed in his latest statement of his finances in 2006.
Unlike the most three recent Georgia governors, Perdue did not place his financial interest in a blind trust while in office. The governor has said his Bonaire grain businesses - Houston Fertilizer & Grain Co. and AGrowStar LLC - would have suffered if he had put them in a blind trust.
(Associated Press)
Because he is not running for office again, Perdue is not required to disclose the details of the loan. The loan is worth almost three times his personal assets of $6.1 million, which he disclosed in his latest statement of his finances in 2006.
Unlike the most three recent Georgia governors, Perdue did not place his financial interest in a blind trust while in office. The governor has said his Bonaire grain businesses - Houston Fertilizer & Grain Co. and AGrowStar LLC - would have suffered if he had put them in a blind trust.
(Associated Press)
