Today the NY Post picks up that story and takes a closer look at one deal - a $20K-$50K loan Flanagan received from a friend:
The new leader of the state Senate received a no-interest loan from a pal and failed to disclose it for years.
Sen. John Flanagan forgot about the loan for nearly five years until he finally came clean this year and amended his annual financial reports to disclose the debt.
He reported in January that Jennifer Lorenz gave him between $20,000 and $50,000 as a “personal loan for college and home improvements.”
The loan dates to 2009, according to the amendment he submitted for that year. He also amended his filings for 2010, 2012 and 2013 to show the loan, but not for 2011.
The Long Island Republican was elected last week as Senate majority leader, replacing Dean Skelos, who stepped down after his arrest on corruption charges.
Flanagan, 54, earns $79,500 as a state senator and, in 2013, got another $18,000 for chairing the Senate Education Committee. He raked in $13,811 in “per diem” travel payments that year.
But to hear Lorenz — a county electrician — tell it, Flanagan was on hard times when he came to her for a handout. She wouldn’t disclose exactly how much she gave him.
“He was redoing his roof on his house and something with the pool,” Lorenz told The Post. “He didn’t have the money.”
She mentioned nothing about college payments, as Flanagan described on his disclosures.
Lorenz, an old pal of Flanagan’s, wired him the money. The loan was executed without any paperwork.
While Lorenz told The Post that the entire loan had been paid back, a Flanagan spokesman on Saturday said that a “majority” of it had been satisfied.
Flanagan "forgot" he received the loan?
Sure he did.
What he really means is, he "forgot" to put the loan on his annual financial report because he didn't want anybody taking a closer look at it.
Next, why was the loan "wired" and "executed without any paperwork"?
Was the money that urgent that it needed to be "wired"?
Finally, was the loan paid back or not?
Flanagan friend Lorenz says it was, a Flanagan spokesman says the "majority" of it was paid back.
Which is it?
There are a lot questions about this loan - from the actual amount to what the money was used for to why was it "wired" without any "paperwork" to was it actually paid back.
Flanagan needs to answer them.