Kelly Loeffler’s Disclosures Reportedly Appear To Leave Out The Hold Company That Operates Her Private Jet Which Could Be Illegal

She's trash.

621 points

Unelected millionaire Georgia Senator Kelly Loeffler is at it again, folks.

Loeffler is one of two Georgie Senators headed to a runoff in January that stands between the current Senate Majority Leader Mitch McConnell and his power for the next four years. Over the course of her term, Kelly has caused an awful lot of uproar, including but not limited to dumping stocks after a secret meeting regarding the coronavirus pandemic in its early days — an illegal scheme that she has yet to suffer the consequences of.

And now, according to a report from Salon, she’s dug herself an even deeper hole of corruption after the report revealed that the in-limbo senator seems to have violated both Senate ethic rules and federal law by omitting a holding company her federally-mandated financial disclosures.


Descante Capital Holdings was revealed in Salon’s reporting regarding the purchase of a private jet purchased jointly by Kelly and her husband Jerry Sprecher, chair of the New York Stock Exchange. The unelected GA senator claims that the aircraft is used for flights back and forth between her state of Georgia and Washington D.C. as well as campaign trips around her state. She also claims that the jet was purchased shortly after her Senate appointment in December of 2019, and she told The Atlanta Journal-Constitution that it was bought with money “out of her pocket.”

However, the report finds that her financial disclosures don’t match up to her “out of pocket” story. Not only was it jointly owned by herself and her husband, contrary to her claims, it seems that the couple may have made use of a Trump tax-law loophole that allowed them to write off the entire $10 million purchase of the aircraft — Which is an issue, as only businesses are allowed to write off the purchase of a jet, not individuals.

Through a Federal Aviation Administration (FAA) lookup of certifications for a mandated two-year regulatory test, Salon was able to determine that, “The plane’s listed operator is not an individual, but a company: Descante Capital Holdings.”

Various business and holding company names were discovered through Salon’s investigation, but none seemed to bear the specific name: “Descante Capital Holdings.” The report reads:

It is unclear whether the couple created a separate entity specifically to operate the jet, or where the apparent reporting error lies: It’s possible the FAA registration is incorrect, but it’s also possible that Loeffler’s omitted this information from her required Senate disclosures.

If Loeffler withheld an entity on those filings, or knowingly gave false information in them, it would amount to a violation of Senate ethics rules as well as a federal law which makes it a crime to ‘falsify any information’ or ‘fail to file or report any information’ that is required.

Violators ‘shall’ be fined, imprisoned for up to a year or both, according to the statute.”

Kelly has previously boasted of her financial worth and it’s become crystal clear that she’s every bit as corrupt and shady as you would expect from a millionaire.

You can read the full report here.

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621 points