Mayor Testifies About Ex-Virginia Governor's Loan - WBOC-TV 16, Delmarvas News Leader, FOX 21 -

Mayor Testifies About Ex-Virginia Governor's Loan

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RICHMOND, Va. (AP) - Virginia Beach Mayor William Sessoms says former Gov. Bob McDonnell never mentioned debts to a wealthy businessman in his application to refinance a bank loan.

Sessoms, president of TowneBank's parent company, testified Wednesday in the corruption trial of McDonnell and his wife, Maureen. They are charged with accepting more than $165,000 in gifts and loans from former Star Scientific Inc. CEO Jonnie Williams in exchange for promoting his company's products.

A defense attorney says the Williams loans went to Maureen McDonnell and to a company owned by the former governor and his sister. Bob McDonnell was the sole borrower on the TowneBank loan.

Sessoms says that a corporate debt technically doesn't have to be listed on an individual's financial statement but that the bank does need to know about shared debts.

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