10:05 am May 31, 2010, by Staff reports
AJC staff writer Jeremy Redmon reports on a lawsuit filed by Bartow County Bank against 9th District congressional candidate Tom Graves and state Senate Majority Leader Chip Rogers.
The bank alleges the two Republicans owe $2.2 million on a loan that is now in default. Graves and Rogers, according to the lawsuit, guaranteed that loan so a company called Tich Hospitality LLC could buy and renovate the low-budget Oglethorpe Inn in Calhoun, Georgia. Rogers was once a part of Tich Hospitality. Graves’ connection to the company is unclear.
The lawsuit also alleges Graves was “insolvent” in June and that he fraudulently transferred two properties — including his residence in Ranger — to a trust in an attempt to frustrate the bank’s efforts to collect on the debt.
Rogers said he is not responsible for the debt because he is no longer involved with Tich Hospitality. Read the complete story.
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