Ohio GOP Senate candidate plans new car dealership amid scrutiny of his businesses
Bernie Moreno, Ohio’s Republican Senate nominee, who has faced scrutiny from his Democratic opponent for his background as a car dealer, is making plans to reenter the automotive industry.
In a recently filed personal financial disclosure, Moreno disclosed his role as a manager in two companies, including a real estate venture listed as one of his assets. Public records reveal that these companies are involved in the development of a Mercedes-Benz dealership.
Throughout his campaign to unseat Democratic Senator Sherrod Brown, Moreno has repeatedly asserted that he sold all his businesses to avoid any potential conflicts of interest. In a recent interview, he confirmed his involvement in this new venture, describing himself as an investor, with his son Kevin set to manage the dealership. Moreno mentioned that construction on the Columbus-area dealership would likely commence around the time of the November election. He also stated that if he wins, he intends to divest his stake in the realty company, emphasizing that the company is not yet operational and thus does not present the same conflict as his previous ventures.
“I divested from all my operating businesses to eliminate any potential conflicts,” Moreno explained in a May interview with Kitco News, a publication focusing on precious metals and cryptocurrency, another of Moreno’s investment areas.
In a video discussion with a local GOP official earlier this year, Moreno elaborated on his divestments, describing them as necessary steps to fully commit to a challenging campaign against Brown.
“I understood that defeating Sherrod Brown would be a formidable task. So, I sold all my businesses to ensure I had no conflicts of interest, allowing me to focus entirely on this race,” he said.
The Ohio Senate race is seen as a critical battleground for control of the Senate. With Brown and Montana Senator Jon Tester being the only Democrats seeking re-election in states that former President Donald Trump won twice, the stakes are particularly high. Moreno and his allies have portrayed Brown as a career politician who is too closely aligned with President Joe Biden and Vice President Kamala Harris to be trusted in a state where Trump won by eight percentage points.
“His slogan ‘the dignity of work’ is a sham,” Moreno said at a recent event in Medina, near Cleveland. “How could he possibly understand the dignity of work? He’s never held a job that wasn’t in elected office.”
Moreno has sought to counter Democratic criticisms of his business dealings by emphasizing his commitment to avoiding conflicts of interest.
“One of my core beliefs is that candidates should not only set an example while in office but also while running for office,” Moreno stated in January at a town hall event with pastors. “I don’t believe senators should trade stocks or own companies. You need to be completely free of any conflicts of interest.”
In his recent financial disclosure, a mandatory filing for Senate candidates, Moreno listed over 20 “business entities” as assets, including M20 Realty LLC, alongside other limited liability companies and partnerships. Moreno described these entities as a mix of non-operational companies and real estate holdings, including properties where he and his family reside.
Records show that in June 2022, both M20 Realty and M20 Motors LLC filed articles of organization with the Ohio Secretary of State. M20 Motors later registered the trade name Mercedes-Benz of Sunbury in September 2022, using Moreno’s Cleveland-area home as its address. Moreno’s financial disclosure identified him as a manager of both companies and listed M20 Realty as an asset valued at over $1,000 or generating income exceeding $200.
In April, just weeks after Moreno secured the Senate primary, M20 Realty purchased land in Sunbury, a suburb north of Columbus, for $9.5 million, as indicated in his 2023 financial disclosure.
Tags:
- News
- USA
