New U.S. Senator Jim Justice has earned a reputation for dodging fines, ignoring court orders, breaking contracts, and paying off old debt with new debt.
Running from $1 billion in debts and liabilities, Jim Justice may have constituents here and overseas who are more important to him than the people of West Virginia.James Conley Justice II finishes out his gubernatorial term in mid January and reports to Washington, D.C. to be sworn into the United States Senate , he will become one of the nation’s poorest senators.
Other creditors are coming for West Virginia’s 73-year-old freshman senator. Last January, Russia’s Caroleng Investments Limited, which is due $10 million in royalties on Justice’s coal mines, won a court order to seize the Justice family helicopter, which they sold for $1.4 million. In June a court ordered U.S. Marshals to help Caroleng seize enough assets from Justice family coal companies to cover the rest.
Until 2017 Justice’s biggest source of bank loans had been Worth Carter. The founder of Carter Bank was known to extend funds liberally to Justice, often with insufficient documentation. As Justice claimed in a later suit against the bank: “Between Mr. Carter and Governor Justice, a word and a handshake sufficed.” When Worth died, Justice owed the bank $740 million, and new management, including current CEO Litz Van Dyke, moved to reduce exposure to the coal magnate . So they cut Justice off.
What did Justice do with the $742 million he borrowed from Greensill? He handed $226 million of it over to Carter Bank to reduce his balance there . He also bought more coal mines and spent millions to buy and restart a defunct plant in Birmingham, Alabama, which could process his coal into high-energy-contentBluestone was not an environmentally conscientious operator.
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