GAVIN NEWSOM’S $3.7 MILLION ESTATE WAS GIFTED TO HIM IN 2019; 3 MONTHS LATER HE GOT A $2.7 MILLION

GAVIN NEWSOM’S $3.7 MILLION ESTATE WAS GIFTED TO HIM IN 2019; 3 MONTHS LATER HE GOT A $2.7 MILLION TAX FREE CASH-OUT

Gavin Newsom’s $3.7 million, 12,000 square foot mansion, on 8+ acres along the American River in Sacramento, was the area’s most expensive home sale in 2018
The gated estate consists of a 6 bedroom/10 bath home, a guest house, a pool, a tennis court, and a wine cave
An LLC registered to Newsom’s cousin, long-time business partner, and Co-President of PlumpJack, Jeremy Scherer, paid cash for the estate in December 2018
Newsom’s spox, though, claimed in Jan 2019 that it was Newsom who’d paid cash for the home – puzzling, since Newsom still carried a $3.2 million mortgage on his prior home
In Oct 2019 the LLC gifted the home to the Newsoms free and clear, claiming Newsom was a member of the LLC to avoid a $4,000 Transfer Tax
In January 2020 the Newsoms received $2.7 million tax-free when they obtained a cash-out refinance
Newsom’s financial disclosure forms don’t mention the LLC or the gifts, which far exceed the $500 limit
In 2003, Newsom was cited for failing to disclose $11 million in real estate and business loans

https://bwcentral.org/2020/07/gavin-newsoms-3-7-million-estate-was-gifted-to-him-in-2019-3-months-later-he-got-a-2-7-million-tax-free-cash-out/

California announces strict rules that will keep most schools closed
https://www.theguardian.com/world/2020/jul/17/california-schools-reopening-rules-coronavirus

Doctors are men who prescribe medicines of which they know little,
to kill diseases of which they know less and Human Beings of whom they know
nothing.

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