Op/ed: Candidate’s past bankruptcy troubling

The race for Kennett Township Supervisor just got more interesting. Recently, a local small business owner shared with the Kennett Area Democrats some disturbing information about Republican Candidate Ted Moxon.

It was alleged that Mr. Moxon had filed for personal bankruptcy in November of 2004. After an extensive search through public records, it was confirmed that Mr. Moxon had filed under Chapter 7 in U.S. Bankruptcy Court in the Eastern District of Pennsylvania. For filings, visit http://issuu.com/johnq.public/docs/ted_bky and http://issuu.com/johnq.public/docs/petition_bky.

The documents revealed that Mr. Moxon filed on Nov. 5, 2004. This event on its own is not necessarily condemning, but it is troubling. In addition, the bankruptcy schedules he filed reflect that Mr. Moxon co-mingled his business (Image Tech) and personal finances. His business practices left local businesses, banks and government creditors on the hook for $2,547,009.76.

Official documents revealed that an unsecured Small Business Administration (SBA) loan to Mr. Moxon’s company Image Tech was discharged for $652,357.14. SBA loans are made by commercial banks but are guaranteed by the Federal government. Taxpayers were left responsible for the federal government’s guaranty.

Mr. Moxon has run an aggressive campaign based on his business acumen, devotion to transparency and fiscal responsibility. It would seem that the reality is somewhat different.

Pat Muller
Pennsbury Township
member of Kennett Area Democrats

 

 

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