Now That Was A Great Investment!
Estate Mafolie is worth almost 3 times the purchase price but will the Governor cash in?
Gov. John P. deJongh, Jr.
His Administration hasn’t exactly been a model of financial responsibility.
There’s the Diageo deal, the Fortune deal, the property tax debacle, the relentless borrowing for operating expenses…
But sometimes you got to give Jack his jacket – and Governor John P. deJongh sure knows how to get a great Return On Investment (ROI) in his real estate deals.
Back in April of 2001, John and Cecile deJongh paid $295,000 for Parcel #23-8 Estate Mafolie.
When you add on the $490,000 in unauthorized public funds spent on the property for “security enhancements” the conservative present value of that property is at least $785,000 – nearly three times what he paid for it and a 166% return on his investment. Considering the rise in property values since 2001, that estimate is definitely on the low side – 200% is probably closer to accurate in 2010.
The United States Inspector General says the use of the funds was illegal and the Governor should pay it all back. Last fall, the Governor said he’d pay back a part of it but was quite vexed with the IG report and now says he’ll only pay it back if ordered by a judge.
We’ll see how that goes.
There’s that financial expertise we heard so much about!
ask Mapp why so expensive.
Mapp is a fool … He would be much worse than deJongh . I dont even know if ill go and vote … deJongh is bad , Mapp is worst.
Hey anonymous from may 16, that is exactly the problem you moron. When that idiot leaves we will suffer the benefit of his goose laying the golden egg according to your assanine eplanation only for him and diageo to benefit from. The feds needs to follow his money trail for the next 60 years and thgey will see they benefits of this corrupt deal that everyone seems to think was so stupid.They are however missing the point that Johnny was actually negotiating on behalf of he, his wife,his kids and his future unborn grands. The good lord will not allow hin, his wife and children to enjoy these ill gotten gains. He will forever be punished to a life of misery and suffering like you have never seen before. Wait and see.
The governor of the Virgin Islands do not care about the people that lives there. He only care about putting more money in his pocket. How could someone bring all these people from the states that has retire nad put these people in position this is a mess. The islands are falling apart he needs to leave office. And let someone else run the country.
The people of the Virgin Island are sleeping, people you all need to wake. No Hess No Jobs the people in power are just misleading the islander’s.After Hess leaves it will be like a ghost town.These people are a joke there’s only one person I believe has their mind and perspective set straight.
I Can’t believe all that’s happening HOVENSA, Firings ,the retro trick . I’m looking at the post on this thread at 11:57am in May. That man went to the legislature and testified against the dangers of the Diageo deal. I remember John’s people tear he up for it. What’s that saying about hindsight?
The LEAC was raised three times since the election, John appointed pSC members who held off until John could win. And hovensa supported jdj. You think the timing of the plant closing is coincidental?