August 25, 2014
Money was the topic of discussion in court on Monday, with prosecutors grilling former Governor Bob McDonnell about the thousands of dollars he and his family owed on mortgages and credit cards.
In the Spring of 2011, the McDonnell's owed $23,000 in mortgage payments and were lathing hundreds in late fees on 2 rental properties in Virginia Beach.
Bob McDonnell testified Mobo, the property company he owned with his sister, operated at a $40,000 to $60,000 loss every year since 2006, and six banks had turned him down for refinancing, but McDonnell maintains he did not see any of that as a financial difficulty.
When prosecutors showed an email sent by his sister saying they were in trouble and needed to act quickly, and another email sent by his wife about an unconscious able amount of debt they owed, McDonnell said both women were exaggerating their money problems.