Bernie Moreno, Republican Senate candidate Ohio He had a past as a car salesman he scoffed and is carefully examined A return to the auto industry is being prepared by his Democratic challenger.
In a recent personal financial disclosure statement, Moreno identified himself as the manager of two companies, including a real estate business he listed as an asset and is developing a Mercedes-Benz dealership, according to public records.
Moreno said several times during his bid to step down Democratic Senator Sherrod Brown he confirmed in an interview that he sold all his businesses to avoid conflicts of interest. He described himself as an investor in the company, which his son Kevin will manage.
Construction on the Columbus-area dealership is not expected to break ground until after the November election, Moreno said, adding that he plans to divest his stake in the real estate company if he wins. Moreno said the company doesn’t consider it a viable business that it gave up as part of a campaign promise because it hasn’t yet generated or generated revenue.
“I got rid of all my operational work, anything that would have given me a conflict,” Moreno said Interview with Kitco News in Maycovering the precious metals market and cryptocurrency, another business in which Moreno has invested.
a video interview With a local GOP official this year, Moreno also characterized his money as a way to free him up for a grueling campaign against Brown.
“I knew it would be very difficult to beat Sherrod Brown. what did i do I sold every one of my businesses, made sure there were no conflicts of interest so I could focus on this.”
Ohio’s Senate race is a potential turning point for partisan control of the chamber. Brown and Sen. John Tester of Montana are the only two Democrats seeking re-election this year in states that former President Donald Trump won twice. Brown, Moreno and allied groups from both parties have already spent more than $100 million on advertising in Ohio, according to AdImpact, an ad-tracking firm.
Democrats have attacked Moreno’s business dealings, particularly his record as a car dealer. Brown’s campaign published advertisements It plays on tropes about unscrupulous car dealers, citing past lawsuits while characterizing Moreno as an unscrupulous businessman who mistreats employees. discrimination in the workplace and overtime pay against their companies.
“The guy that’s running against me, he’s run car dealerships, he’s made a lot of money,” Brown said at a campaign event near Youngstown last week. “As you know, I always talk about the dignity of work. Who I am, what I stand for, what I care about. And he He had to pay 400,000 dollars He pays his employees for the money he prevents them from working overtime.”
Moreno described Brown as a career politician closely tied to President Joe Biden and Democratic presidential nominee Vice President Kamala Harris, whom Trump led by 8 percentage points.
“His fake slogan is ‘dignity of work,'” Moreno said at an event this month in Medina, near Cleveland. “How could he know the merit of the work? How would he know? “He has never had a job that was not an elected official.”
Moreno has also sought to neutralize Democrats’ attacks on the business portfolio, vowing to avoid conflicts of interest.
“One of the things I strongly believe in is not only participating in elections and setting an example as a senator, but also [to] To set an example as a candidate, i.e. to be completely free from any conflict of interest” Moreno said in January at a town hall event with pastors. “I do not believe that senators should buy shares and own companies. You must be completely clear, completely clean of any conflict of interest.”
In a recent personal financial disclosure form required of Senate candidates, Moreno listed more than 20 “business entities” as assets, including M20 Realty LLC, as well as other limited liability companies and limited partnerships. Moreno said the entities are a combination of defunct companies and real estate holdings that include properties where he and family members live.
M20 Realty and M20 Motors LLC each filed articles of incorporation with the Ohio Secretary of State in June 2022, records show. M20 Motors later registered Mercedes-Benz of Sunbury as a trading name in September 2022, listing Moreno’s home near Cleveland as the address. Moreno’s financial disclosure listed him as the manager for both companies and listed M20 Realty as an asset “worth more than $1,000 or generating more than $200 in revenue.”
In April, weeks after Moreno won the Senate primary, M20 Realty acquired land in Sunbury, north of Columbus, for $9.5 million, according to Delaware County property records. At that time, Mercedes-Benz Financial Services USA entered into a mortgage agreement with M20 Realty. Moreno signed the mortgage as manager of M20 Realty and signed the landlord/tenant agreement between M20 Realty and M20 Motors on behalf of both companies. county website.
Moreno said the Sunbury project has been in the works for four years — before he sold the last operating car dealerships. focusing on the blockchain enterprise. According to a 2023 financial disclosure form, he made more than $5 million last year by selling his stake in blockchain company Champ Titles.