Mayor John Tecklenburg should have known better than to loan himself
without court permission $80,000 from accounts he controlled as
conservator for an elderly former neighbor. Probate Judge Irvin Condon
was right to remove Mr. Tecklenburg from the conservatorship after his
violation of state law.
Mishandling Johnnie Wineglass’ finances
showed the job should have been done by a professional. The mayor, a
real estate agent by trade, said he did not know he needed court
permission to loan himself the money.
“I think you meant well, but
we can’t set a precedent of self-dealing,” the judge told Mr.
Tecklenburg on Tuesday. Mr. Condon’s remark about “self-dealing”
particularly stung Mr. Tecklenburg and could have an impact on his
professional life.
The
mayor agreed to become the woman’s conservator in 2008 — for free —
when she started losing her memory and became unable to manage her
money. He took out loans of $20,000 in 2011 and $35,000 in 2014 to
benefit his wife’s gift shop, which was later sold; a third loan of
$25,000 was taken out in 2016 to help him cover living expenses as he
transitioned into the job of mayor. All the loans were repaid on time,
with 5 percent interest, including an additional $877.22.
Mr.
Tecklenburg also used $25,000 of the woman’s money to buy an Edisto
Island tax sale property in 2011 and then sold it back to the original
owner, yielding a $3,000 profit for her. Special conservators appointed
by the court called it a risky move with the potential of leaving the
woman with property that could have been difficult to convert into cash
to pay her bills.
In the end, no harm was done to Ms. Wineglass’
finances. And by all accounts, Mr. Tecklenburg took on the job out of
the goodness of his heart. But he should have sought legal advice about
lending himself money. It was a case of big-hearted bad judgment.
In
his official capacity, we expect the mayor to be more careful. Mr.
Tecklenburg is the leader of the state’s largest city and plays a major
role in how it brings in and spends its funds. It’s critical that the
public have confidence in his judgment as well as his ability to handle
money and follow the law. He will need to work hard to earn back any
confidence lost as a result of this episode.
A report prepared for
the judge by the special conservators recommended Mr. Tecklenburg
continue to manage the woman’s money, as did two of her goddaughters.
But Judge Condon was right to remove the mayor from the job. Violating
the law is reason enough, even if no harm was done. Being mayor affords
Mr. Tecklenburg no special consideration, and the judge would be
expected to handle similar cases in the same manner.
Full Article & Source:
Editorial: Mayor's big-hearted bad judgment
Bad judgment can ruin a person's life.
ReplyDeleteIt ruined his life Margaret!
ReplyDelete