Holiday Season Special: Easy as Exhibits A, B & C

The following has very profound implications:

Exhibit A ~ The official word on a few of former Jefferson Parish President Aaron Broussard’s many other criminal acts:

  • Broussard’s receipt of a major ownership interest in a company holding Canadian resort property for little or no capital contribution, which was instead supplied by various Parish vendors

Beginning in or around 2002, a company named Nova Scotia Enterprises, LLC (“NSE”), was formed. See Exhibit A at 1-5 (Articles of Organization and Initial Report of NSE). NSE was a holding company for several pieces of vacation rental property located in the Canadian province of Nova Scotia. See Ex. A at 11 (Operating Agreement of NSE at Section 2.3, noting purpose of company is to acquire and own real property). At various times from 2002 through 2010, there were up to twelve partners in NSE – many of which were Jefferson Parish contractors or prospective contractors. See id. at 32-34 (attachments to NSE Operating Agreement). Broussard was also a partner in NSE. See id. at 34. However, unlike almost every other partner in NSE, Broussard was given a large, 42% interest in NSE for a small capital contribution to the company. See id, at 34 (reflecting Broussard’s ownership interest) & 56 (NSE spreadsheet reflecting contributions made by NSE partners and noting that Broussard’s contribution as approximately $782.60). By contrast, nearly $50,000 was contributed by several other NSE partners for the upkeep and maintenance of properties. See id. at 56. Significantly, many of the NSE investors who supplied the vast majority of the funds obtained a much smaller ownership interest than Broussard in NSE. See id, at 32-34 (reflecting 3% or 6% interest obtained by other partners in NSE). Most importantly and not coincidentally, during Broussard’s tenure, many of the NSE partners, through their various corporations, received contracts with, and work in, Jefferson Parish, worth millions of dollars, at the same time they were funding NSE and Broussard’s corporate interest in it. Finally, Broussard sought, at the conclusion of his tenure as Parish President, to sell his ownership share in NSE – which was purchased for very little – for nearly $200,000, an extraordinary return on the minimal investment supplied by Broussard. See id. at 57-60 (correspondence and promissory note regarding Broussard sale). Thus, in sum, the Government will present evidence reflecting that various Jefferson Parish vendors (who sought and received work when Broussard was Parish President) supplied investments (a thing of value) for a company owned, in large part, and managed by, Broussard. See Exhibit A at 1-60.

Exhibit B ~ Real Estate Abstracts obtained by Slabbed New Media in 2011 and 2012 on the property in question Continue reading “Holiday Season Special: Easy as Exhibits A, B & C”