Beavers Was Investing, Not Loaning $50,000? (Lou Ann Zelnick, too?)

Senate Judiciary Chairman Mae Beavers was investing $50,000 in a Macon County newspaper, not making a loan of that amount to the publisher, according to a response filed in a lawsuit Beavers has brought for collection of the money.
From Andy Sher’s report:
“Co-plaintiff Mae Beavers delivered said cashier’s check to Defendant (Kathryn) Belle for the specific purpose of investing in the venture and to make payment of the May 21, 2010 installment [payment] due to Main Street Media for purchase of the Macon County Chronicle,” the filing says.
It also alleges that Lou Ann Zelnick, a Republican who made a failed 2010 GOP 5th Congressional District primary bid, “invested” $36,000 in the newspaper venture as well.
…. (Beavers, in an interview) called the lawsuit a “personal matter.”
Asked about suggestions the money was not a loan but an investment, Beavers said, “I don’t believe that’s what the lawsuit said.”
Beavers said “yes” when asked if the $50,000 was intended as a loan.
Meanwhile, Beavers on Monday filed an amended Statement of Interests form with the Tennessee Bureau of Ethics and Campaign Finance. Her original State of Interests form, filed Jan. 30, did not mention the loan or the 6 percent her lawsuit cites as interest under the category “sources of income.”
Her new filing lists “Kathryne Bell — pass through interest on personal loan — no actual income.”
It also lists Bell’s nephew, John Cook, with the explanation “pass through interest on personal loan — no actual income.”

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