DETROIT (AP) — A newspaper reports that disgraced ex-Detroit mayor Kwame Kilpatrick began receiving money from four of the city's most prominent businessmen months before he signed a loan repayment plan.
A review of an undated, two-page loan agreement obtained by the Detroit Free Press indicates that on Aug. 12 Kilpatrick signed promissory notes specifying repayment terms for personal loans totaling $240,000.
Kilpatrick, who owes the city $914,000, testified last week during a restitution hearing that he received $150,000 on Feb. 4 and another $90,000 in June.
The loan requires Kilpatrick to use the money for "no other purpose" than to support his wife and children. He's also bound by a confidentiality agreement and must repay $60,000 each, plus interest, to Peter Karmanos, Roger Penske, Jim Nicholson and Dan Gilbert.
___
Information from: Detroit Free Press, http://www.freep.com
©2009 Associated Press. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
