A formal complaint has been filed over Pennsylvania Lt. Gov. and Democratic Senate candidate John Fetterman’s purchase of land from his own nonprofit at a tiny fraction of its value.
The Center for Accountability and Government Ethics alleged that, while mayor of Braddock, Fetterman bought a $75,000 property from Braddock Redux for a mere $1,100.
The embattled Senate candidate purchased the property, according to the complaint, from his nonprofit founded with the purpose of revitalizing the depressed steel area.
Fetterman Bought Land From His Own Nonprofit At Fraction Of Market Value In Eyebrow-Raising Deal With Deputy Mayor, Complaint Alleges https://t.co/zpME4EvXbk
— Daily Wire News (@DailyWireNews) November 3, 2022
The transaction was completed between Fetterman and Jebediah Feldman, who served as the vice president of the nonprofit’s board as well as the deputy mayor of the city.
The complaint was sent to the Pennsylvania Secretary of the Commonwealth and the Pennsylvania Ethics Commission. It detailed that Feldman as a private citizen purchased the property for $75,000 in 2007. In 2011 he then sold it to Braddock Redux for $1.
Fast forward to 2014, and Fetterman bought the property from the nonprofit for $1,100. This amounts to 8% of market value.
The complaint states that the combination of “transaction history, the minimal value of the sale price” to Fetterman, and the enormous discount call the purchase into question.
It further gives the appearance of misconduct, according to the complaint, when compared with other properties on the same block.
Having the president of a nonprofit purchase property from the organization at less than 10% of market value, the complaint concludes, “would appear to be a clear violation of fiduciary obligations.”
The Fetterman campaign quickly responded. Spokesman Joe Calvello called the charge “frivolous and ridiculous” and an effort by a “far-right dark money group” to smear the candidate and support his Republican opponent, Dr. Mehmet Oz.
The filing, however, is the second regarding properties owned by the Democratic candidate. The Foundation for Accountability and Civic Trust reported that Fetterman did not disclose any of eight properties he owns in Braddock as required for his Senate race.
Fetterman and Oz are locked in a dead heat less than a week before the midterm elections, and their outcome may decide which party leads the Senate next year.