By Tim Kowols
The Wisconsin Economic Development Corporation decision to write off a $1.1 million loan to a jailed De Pere businessman is not sitting well with Democratic State Senator Dave Hansen. According to the Wisconsin State Journal, Green Box owner Ron Van Den Heuvel was put behind bars last week for defrauding investors and failing to repay creditors. He also awaits trial for 14 other federal counts of fraud against other investors including the WEDC. Senator Hansen questions if taxpayers can trust the state with the billions of tax dollars in waiting for Foxconn if WEDC cannot get paid back for a $1.1 million loan.
WEDC spokesperson Mark Maley told media members yesterday writing off the loan does not mean they cannot still get money from Van Den Heuvel and that several safeguards have been added to the application process since the original loan was approved.