The latest example of how the justice of the UDS Supreme Court mooches off his rich friends (and one wonders if they think of him as their friend only because of his position) is the example of the luxury motor home that he ‘purchased’ 1999 with a ‘loan’ of $267,000 (which allowing for inflation would be about $500,000 now) from a millionaire who later forgave the principal on the loan.
In the case of the luxury RV – a Prevost Marathon Le Mirage XL – Welters loaned Thomas the money in 1999. The businessman told the Times: “I loaned a friend money, as I have other friends and family. We’ve all been on one side or the other of that equation.”
But on Wednesday the Senate finance committee said it had now seen documents that showed an annual interest rate of 7.5% but no obligation to pay down the principal, only annual interest payments of $20,042. The committee also said it had seen a note from Thomas promising to abide by the terms.
“None of the documents reviewed by committee staff indicated that Thomas ever made payments to Welters in excess of the annual interest on the loan,” the panel said.
As described by the Times, when the loan came due, in 2004, Welters granted a 10-year extension “despite the fact that the previous year Justice Thomas had collected $500,000 of a $1.5m advance for his autobiography, according to his financial disclosures. Then, in late 2008, Mr Welters simply forgave the balance of the loan, according to the committee’s report.”
Thomas seems to be someone who really enjoys living the high life on other people’s money. What a sleaze.