Katahdin Trust Patten Maine

 

This is Jon Prescott the CEO, he took $10MM of tax payer funded bailout money

Jon, they want there money back

Katahdin Trust Patten Maine was founded in 1918.  The company received $10MM in tax payer funded bailout  money, which it has neglected to repay.

The company has $508MM in assets and $58MM in equity.

Net income was $4MM in FY10, $3MM in FY09 and $2MM in FY08.

Why haven’t they used these funds to repay the tax payer?

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