RICHMOND, Va. (AP) - Virginia Gov. Bob McDonnell has refinanced his private residence and restructured loans on other properties as he repays a businessman and donor who showered him and his family with gifts.
Court and government records reveal real estate transactions that could free up cash while McDonnell and his family return gifts and loans totaling more than $150,000 to Jonnie R. Williams Sr.
Williams is the CEO of an obscure nutritional supplement maker who is the central figure in a political scandal that began to emerge in April, when the governor initiated the series of property transactions. ok
However, public documents do not indicate if McDonnell has spent any of the money freed up by those transactions, or whether any of it may have been used to repay Williams.
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Governor Bob McDonnell announced that his budget for fiscal year 2015-2016 will include millions of dollars for K-12 education.