David Tepper ‘Under Investigation’ Over Public Money

[blackcat]

1 hour ago, Panther'sBigD said:

When did Tepper agree to settle with SC for 'whatever they asked for?' I haven't seen that anywhere. 

Read the article directly above your post.  Tep has agreed to give RH $20m, which is what they were seeking.  See article below, referring to how he has also settle with York County.  I know it's confusing, but Rock Hill and York County are not the same thing.

 

https://www.bizjournals.com/charlotte/news/2022/11/29/gt-real-estate-york-county-settlement-panthers-hq.html

[Snake]

3 hours ago, CRA said:

this isn't Rock Hill with this investigation.  This is York County.  

 

What's the largest city in York County?

Edited December 2, 2022 by Snake

[Snake]

3 hours ago, Waldo said:

The county sounds like the one party not in on the BS. So it's Tepper and RH, which he went to to do it his way. Ohh and his company was to be the bondholder to avoid state regulatoey oversight. With the way Tepper wanted to do this deal it was always going to happen this way, whereever he found a town that would do it his way.

He is getting his hand slapped while in the cookie jar. The reality is the sooner this is over, hopefully he learned some things, the sooner we can get on with what comes next. Maybe some day we will have more than a practice bubble.

Hand in cookie jar how? It was Rockhill that torpedoed the deal. Tepper just wanted cheaper land. Fort Mill would have been more expensive but they could have afforded the project. Rockhill is the one trying to get a Windfall out of this. 

[blackcat]

Just now, Snake said:

Hand in cookie jar how? It was Rockhill that torpedoed the deal. Tepper just wanted cheaper land. Fort Mill would have been more expensive but they could have afforded the project. Rockhill is the one trying to get a Windfall out of this. 

Uh....RH had much more to gain by seeing this thing through rather than torpedoing the project.  Also, yes Rock Hill is the largest city in York County, but it's the county with the help of SLED (they're from the State), and not the city, who are in charge of this investigation.  In fact, the county was at one point suing the city over this matter, so let's not pretend they're one in the same.

[Waldo]

5 minutes ago, Snake said:

Hand in cookie jar how? It was Rockhill that torpedoed the deal. Tepper just wanted cheaper land. Fort Mill would have been more expensive but they could have afforded the project. Rockhill is the one trying to get a Windfall out of this. 

So you haven't read anything. I don't have time to break it down extensively but what you are saying is way off base. There was an older thread on the updated fact Tepper's company was the bond holder in all of this so the bonds that were never released would have come from Tepper's company lol. 

Tepper knew what he was looking for, how he wanted to do the deal and went to where that would happen. It's all on RH and Tepper from everything I have read, RH's incompetence and Tepper's desire to do a shady deal that was heavily favored his interest even beyond most stadium deals out there. 

So he was caught with his hand in the cookie jar for doing some shady crap and the county & state are showing up to slap his hands with hefty fees or fines. 

[CRA]

17 minutes ago, Snake said:

What's the largest city in York County?

What does that have to do with this? 

York County has investigators going because of money York County gave Tepper.  Not Rock Hill.  York County and Rock Hill aren't teammates in this lol.   York County and Rock Hill officials have been at odds.   You are raging at RH over what YC is doing.  Now I guess suggesting York County is acting on behalf of Rock Hill?  I mean, York County gave Tepper money for something very specific.  And he didn't use it for such. 

[pantherclaw]

York County sure made a.mess of things, and nobody down there gives a fug, except to get more money. 

 

[Pejorative Miscreant]

4 hours ago, Snake said:

Teppers first wrong move was going to crack hill. Now they want their money back because they couldn't come up with all the money and tanked the project. Got to love how they get to run the investigation. I'm defending tepper on this one because he really didn't do anything wrong. It was Rockhill who couldn't come through. If they would have just put the training facility in Fort Mill this wouldn't have happened. Rockhill definitely fleeced him now they are trying to set up a civil situation where they can go after his personal money. 

 

Long story short welcome to local corruption and how it's never the governments fault. 

I despise all local politicians.  Nasty and corrupt.
 

Oh, and fug Rock Hill. 

[CRA]

30 minutes ago, pantherclaw said:

York County sure made a.mess of things, and nobody down there gives a fug, except to get more money. 

 

Tepper, McMaster, SC State House, Rock Hill, York County all made a mess of this.  Anyone looking to cut any one of these folks out of the mess is kidding themselves.   

Tepper certainly is no victim though. 

[Gerry Green]

I will tell you one thing. After reading this thread, I'm more confused than ever.

 

I mean, which one is the bad guy? I hate bad guys. Except Richard Dreyfuss of course.

[PNW_PantherMan]

I guess canning Matt Rhule did wonders for Teppers approval rating.

[Snake]

1 hour ago, blackcat said:

Uh....RH had much more to gain by seeing this thing through rather than torpedoing the project.  Also, yes Rock Hill is the largest city in York County, but it's the county with the help of SLED (they're from the State), and not the city, who are in charge of this investigation.  In fact, the county was at one point suing the city over this matter, so let's not pretend they're one in the same.

Rockhill has 4 councilman so don't sell me that it doesn't have a interest. Also I know what SLED is. I've worked with them many times. Rockhill wanted the project but ran out of money. This investigation is to see if state money was misused and it wasn't. What this is all about is opening up Tepper to a civil suit. What lawyers call "Piercing the corporate veil". I'm not going into detail about that because it would be above a lot of people's head. 

[Snake]

1 hour ago, CRA said:

What does that have to do with this? 

York County has investigators going because of money York County gave Tepper.  Not Rock Hill.  York County and Rock Hill aren't teammates in this lol.   York County and Rock Hill officials have been at odds.   You are raging at RH over what YC is doing.  Now I guess suggesting York County is acting on behalf of Rock Hill?  I mean, York County gave Tepper money for something very specific.  And he didn't use it for such. 

Because Rockhill has a large sway in the investigation. What I'm trying to point out is this is just a move to open up Tepper to litigation in civil court. They can't do that right now because the company is defunct. Only way to get to Tepper or make him settle is to use government power to force him to the table or get around his company so he can be sued directly. 

[Snake]

3 hours ago, Waldo said:

So you haven't read anything. I don't have time to break it down extensively but what you are saying is way off base. There was an older thread on the updated fact Tepper's company was the bond holder in all of this so the bonds that were never released would have come from Tepper's company lol. 

Tepper knew what he was looking for, how he wanted to do the deal and went to where that would happen. It's all on RH and Tepper from everything I have read, RH's incompetence and Tepper's desire to do a shady deal that was heavily favored his interest even beyond most stadium deals out there. 

So he was caught with his hand in the cookie jar for doing some shady crap and the county & state are showing up to slap his hands with hefty fees or fines. 

You don't have to break it down for me. I know what I'm talking about. What shows me you know nothing about the situation is that you think Tepper wanted to be the bonder. Without writing a huge page on this and this is a large situation I will explain why Tepper became the bonding company and why that wasn't a favorable situation. 

Normally in a large construction project a bonding company is used to insure in case of default all contractors get paid. With the Rockhill project the city couldn't afford a bonding company and the state wasn't going to open up funds to make that possible. So Tepper took on that liability so the project couldn't move forward. Now he's under the microscope because as I assume Rockhill council mislead on how much capital they had for the project. So now the state is investigating him to see if he kept any of the states money and didn't pay the debts. I'm pretty sure Tepper kept meticulously good records because he was the bonding company. Thus why I said they will find nothing. They are hoping for a procedural mistake so they can open up civil litigation and remove fault of Rockhill. Because if they can't pierce the veil Rockhill will be exposed to litigation to all those contractors who didn't get paid.