I know we've talked previously about how the Bruno vs. Medley race is really all about Sidney Torres's "bloody" feud with the Motwanis. At the time we wrote that, however, we could only find some $36,000 in campaign contributions to Medley through Torres's various business partners, family members and LLCs, like so..
More fun with finance reports. These are the first three entries on one judicial candidate's contributions. pic.twitter.com/4uA9gSxXrU
— skooks (@skooks) October 8, 2020
This was a real thing. We know because the Times-Picayune reported on it here. Also whoever is responsible for putting out these DSA voter guides noticed as well.
But, since that time, The Lens has found there is still more to it.
The allegation involves a $100,000 loan that Medley received in September from IV Capital, a company owned by Sidney Torres — a local entrepreneur, outspoken opponent of Bruno and the primary benefactor of Medley’s campaign. The same day she took the loan, Medley issued a $85,000 loan to her own campaign. A week later, she donated another $15,000 to her campaign. The campaign report says the loans were from Medley herself, and do not mention Torres’ company.
That certainly escalates Torres's investment. What, technically, is he supposed to be buying into there? Real estate, of course.
The collateral Medley used for the loan is an investment property she owns on 4725 Baudin Street. The house is assessed at $204,000. And records from the city’s notarial archives show that Medley has taken out loans on it totalling $269,000. As a result, the Bruno campaign characterized IV Capital’s $100,000 as essentially an unsecured loan to Medley. It’s unclear how much she still owes on the property. One of the mortgages — for $119,000 _ dates to 2013. The other one, however — for $150,000 — was finalized just this year.
Torres told The Lens that a private assessment valued the property at nearly $300,000, and that he personally thought the Mid-City double was worth even more. He also said that there was only $155,000 in debt attached to the house.
“I promise if she does not pay him back he will foreclose,” Litchfield said. “That’s what he does.”
Boss move for Sidney. No matter what happens in this election now he comes out of this owning something. That could be yet another house he can flip. Or it could be a judge.
See also: The Antigravity voter guide is out this week. Their write up also notes all of the above with regard to this race including the latest bit about the loan on the house.
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