(Jacob Bruns, Headline USA) Democrat political activist and failed Georgia candidate Stacey Abrams secured permission to use public tax dollars to grow her own personal fortune, Fox News reported.
Abrams, who lost the race to become the Georgia governor in 2018 and is running again this year, has also announced plans to run for President in 2040.
But in the midst of her political ambition, it has come to light that she has made a number of private deals between her personal corporation and the state of Georgia.
In 2013, her usurious business NOWaccount had a mere $100,000 in revenue. Three years later, the total had soared to more than $3 million.
Abrams co-founded NOWaccount, now known as Now Corporation, in 2010 with business partners Lara Hodgson and John Hayes. But when the Georgia Department of Community Affairs helped Abrams reorganize a tailor-made federal loan program, her company’s profits jumped.
The stated purpose of her business is to help small businesses secure state loans and improve their growth. But in reality the company seems to profit largely off of collecting public tax dollars.
In effect, her company acts as a private lender in conjunction with the federal government.
She is working on persuading several other states to adopt her NOWaccount model, which would help her company profit even more.
When some with NOWaccount loans defaulted, Abrams was able to work her connections in the government to use taxpayer money to bail out her business.
When asked about company, from which she departed in 2016, Abrams denied all association with NOWaccount’s dealings with the DCA.
“I’m proud of what NOWaccount did,” Abrams said. “I went to a Republican attorney general to make certain I was not in violation of even the spirit of the law. After being told there was no conflict of interest, I still walled myself off,” she concluded.
