Report: Nathan Deal didn't disclose loans to ethics panel, blames 'oversight'

Print
E-mail

By SHANNON McCAFFREY

ASSOCIATED PRESS

A review of records by The Associated Press has found that Republican Nathan Deal did not disclose two active loans on which he and his business partner owe a combined $2.85 million.

Enlarge photo

Georgia gubernatorial candidate Nathan Deal failed to disclose business loans totaling $2.85 million as required by state elections law.

John Spink, jspink@ajc.com Georgia gubernatorial candidate Nathan Deal failed to disclose business loans totaling $2.85 million as required by state elections law.

More Atlanta area news »

The loans from two banks were made to Deal and Kenneth Cronan in 2009. They do not appear on the financial disclosure Deal filed with the state Ethics Commission when he announced he was running for governor.

The revelation comes a day after The Atlanta Journal-Constitution, in an exclusive article, reported that Deal faced insolvency because of his debt obligations.

Deal on Thursday called it an "oversight" and said he planned to amend his financial disclosure with the state. He said the debts were business loans for his Gainesville Auto Salvage business. Real estate records list only Deal and Cronan as the guarantors.

One $350,000 loan is from Verity Bank in Winder, Ga. The other is a $2.5 million from Branch Banking and Trust Co. in Gainesville, Ga.

Deal faces Democrat Roy Barnes and Libertarian John Monds in the November election.