Advertisement
Filed under: 2020 Runoffs

Washington Post story reveals Ossoff is hiding his company’s financials

-

The memo:

  • The Washington Post reports that Jon Ossoff is refusing to disclose details of his company's financials.
  • The Democratic Senate candidate will also not say how much he received in family inheritance.
  • This raises new questions about Ossoff's foreign business dealings.

A comprehensive report published Wednesday by The Washington Post has revealed that Jon Ossoff is willfully hiding the details of his company’s financials from the public.

The left-leaning newspaper outlined how Ossoff, having “no experience managing a company” at the time, was handed the reins of Insight: The World Investigates — an international media company based in London and specializing in producing video documentaries. He was made CEO of the company by a longtime friend, with the biggest asset Ossoff brought to the table seemingly being inheritance money he invested in the company.

The Post reported that Ossoff acknowledged investing $250,000 initially but would not disclose additional sizable investment he has made since then. Ossoff’s money purely stems from funds he inherited from his grandfather. Ossoff refused to tell the Post exactly how much money he inherited.

Nicknamed the “Trust Fund Socialist” by U.S. Senator David Perdue (R-GA), Ossoff’s general election opponent, the Democratic Senate candidate told the Post that after three years working as a congressional aide in his early-20s, “[I] had really seen enough of Congress in Washington to know that I didn’t want to go back there…”

“Nonetheless, Ossoff, 33, has spent much of his time and energy over the past three years trying to get back to Washington,” the newspaper noted.

The reporting further outlined that Ossoff and his company have admittedly done business with “a number of international networks,” as well as entities “throughout Africa, Latin America, the United States and Hong Kong.” One such entity is tied to the Chinese Communist Party, which is known from previous reporting.

Yet, there seem to be more questions than answers when it comes to Ossoff’s finances and foreign ties. The Post tried to clear these questions up, yet they went unanswered apparently.

“[Ossoff] has not released his tax returns,” the paper outlined. “His personal financial disclosure form, which he filed this year as a Senate candidate, says his net worth is between $2.3 million and $8.8 million, including the value of his company, which he put at between $1 million and $5 million.”

Working from a limited 2018 company disclosure filed in London, the Post explained that Ossoff’s company at the time reported “a negative net worth of $283,343.”

“The report said the company ‘elected not to include a copy of the profit and loss account.’ The (Ossoff) campaign said in a statement that the company in that year had an operating loss of $25,000 but declined to make that documentation public or provide information about other years,” the Post added. “Ossoff declined The Post’s request to release further financial information. He said that ‘in some years we’ve been profitable, for some years we’ve taken losses. But the particulars of our annual finances are confidential.'”

Even more concerning to Georgia voters, Ossoff would not tell the Post if he planned to relinquish his role as CEO of the company if elected.

In a release on Wednesday, the Perdue campaign slammed Ossoff for his lack of transparency regarding his companies and foreign dealings.

“Not even the liberal media could find a way to sugar coat it — Jon Ossoff is a trust fund socialist with no qualifications to be a United States Senator,” the release stated. “The Washington Post this morning pulled back the curtain on Ossoff’s work at Insight: TWI, spotlighting how Ossoff is not the success he claims to be and how he possibly squandered the inheritance that allowed him to start the company in the first place. What should further concern Georgia voters? Despite running on a platform of transparency and anti-corruption, Ossoff spent his interview with the Post refusing to provide clear answers on basic questions about his impact on TWI’s financial situation.”

Per the Perdue campaign, the following questions should be answered by Ossoff in light of the latest report:

  1. What is the current value of TWI?
  2. Did TWI suffer financially because of poor business decisions made by Ossoff?
  3. If Ossoff acknowledges that he failed in his business ventures, why does he believe he is qualified to serve in the Senate?
  4. If Ossoff is running on a platform of “rooting out corruption,” why is he above being transparent with Georgians about the details of the work he did at TWI?
  5. Was China the only communist government Ossoff did business with?

RELATED: Poll: Georgians concerned about Jon Ossoff’s dealings with China, ties to Chinese Communist Party

Sean Ross is the editor-in-chief of The Georgia Memo and Yellowhammer News. You can reach him via email at Sean@GeorgiaMemo.com