"In 2009, the senator sold Bluestone Coal Corporation his family business to a Russian company called Mechel for approximately $436 million in cash. Six years later, Mechel sold it back to Justice for 99% less than what he had sold it for. Despite this incredible turn of events, a Forbes report published in January said Justice's net worth is less than zero because his finances are severely troubled thanks to mountains of debt."
"AP Photo/Chris Jackson Sen. Jim Justice (R-WV) and his wife agreed to pay the tax liabilities they owe dating back to 2009, Bloomberg Law reported on Monday. The Department of Justice filed a complaint stating that the Senator and his wife Cathy Justice had received notice about the back taxes and demand for payment. In 2009, the senator sold Bluestone Coal Corporation his family business to a Russian company called Mechel for approximately $436 million in cash."
Sen. Jim Justice and his wife agreed to pay $5,164,739.75 in back taxes owed dating to 2009, with IRS liens exceeding $8 million. The couple sold Bluestone Coal Corporation to Russian company Mechel in 2009 for about $436 million, and Mechel sold it back to Justice in 2015 for roughly 99% less. A federal judge ordered the sale of six of Justice’s companies to satisfy debts. Justice’s finances show heavy indebtedness, with a Forbes assessment of negative net worth and prior findings that his companies failed to pay millions in mine safety penalties. Justice also made nearly $2.9 million in interest-free campaign contributions while fines and taxes remained unpaid.
Read at www.mediaite.com
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