South Florida nonprofit investigative journalism outfit the Florida Bulldog has a story today saying that Gov. Rick’s Scott’s blind trust – something the governor set up as a way to avoid conflicts like making decisions on state policy that affect his multi-million-dollar investments – “loaned as much as $5 million to a Delaware company privately owned by his daughter Jordan. But you wouldn’t know it by reading Scott’s recent ‘full and complete’ federal financial disclosure form.”
“Jordan Leigh Scott isn’t mentioned in the 125-page document. Rather, the governor listed the loan as an ‘accounts receivable from a business,’ Seabass Properties LLC. The loan value was reported to be in a range between $1 million and $5 million, earning interest this year for the blind trust of $15,000 to $50,000…In Florida, a blind trust owner is legally prevented from directing a specific investment, but the law does allow the owner to request distributions of cash or other unspecified assets.”
The governor’s spokesman told the Bulldog the $5 million was a personal loan to his daughter and “it is completely within the purview of the blind trust for the trustee to take out money for expenditures – not for investments.”
The finances of Scott and his wife have been a sort of mystery. As governor, he didn’t have to disclose much. But as a candidate for the U.S. Senate against incumbent Bill Nelson, he had to file federal disclosure forms. The big takeaway from is that the governor and his wife are worth between $248 million and $480 million, Politico reported, adding that it could be much higher than that “since the federal disclosure form only requires reporting of the first $1 million of each investment” that’s held by a spouse or a child.
Politico also reported that the investments made by the governor’s blind trust (which Scott has repeatedly said he knows nothing about because the blind trust is set up to avoid conflicts of interest in his political job) “includes tens of millions of dollars in investments in the exact same companies as his wife, Ann.”
Scott has has millions parked in the Cayman Islands – a tax haven, the Miami Herald/Tampa Bay Times bureau reported. You can read more about the transactions – plus previous Florida Bulldog stories about Rick Scott’s blind trust investments – here.