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FBI Investigating Columbus Mayor Over Questionable Real Estate Deal

Mayor Michael Coleman

By Steve Neavling
ticklethewire.com

The FBI has launched an investigation into the Columbus Mayor Michael B. Coleman in the midst of a bribery scandal, WBNS-10 reports. 

The investigation involves a 2010 real estate deal.

The questions by the FBI centered around the sale of the mayor’s home, where she lived with his wife and their three children until they filed for dissolution in 2009.

The home sold to a woman abroad for $520,000 in 2010.

Coleman issued the following statement:

The sale of our home to Mrs. Li was an arms-length and fair transaction with everything aboveboard. Our original asking price for the home was $750,000. This asking price was recommended to us by our independent real estate broker who was very familiar with comparable home sales in the neighborhood. Also, before we sold our home, we put $570,000 of improvements into it to repair and replace fire damage. But we sold the home to Mrs. Li for substantially less, for $520,000. We also know that several other homes in the neighborhood sold for more than ours on a per square foot basis, according to an independent professional appraisal report.
In view of these documented facts, there is no basis for anyone to suggest that we sold our home for more than it was worth or that there was anything inappropriate about the transaction.


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