Mayor testifies about ex-Virginia governor’s loan

Former Virginia  Gov. Bob McDonnell

Former Virginia
Gov. Bob McDonnell

RICHMOND, Va. (AP) _ Virginia Beach Mayor William Sessoms says former Gov. Bob McDonnell never mentioned debts to a wealthy businessman in his application to refinance a bank loan. Sessoms, president of TowneBank’s parent company, testified Wednesday in the corruption trial of McDonnell and his wife, Maureen. They are charged with accepting more than $165,000 in gifts and loans from former Star Scientific Inc. CEO Jonnie Williams in exchange for promoting his company’s products. A defense attorney says the Williams loans went to Maureen McDonnell and to a company owned by the former governor and his sister. Bob McDonnell was the sole borrower on the TowneBank loan. Sessoms says that a corporate debt technically doesn’t have to be listed on an individual’s financial statement but that the bank does need to know about shared debts.

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