The lead investor in the Hangar42 movie studio deal was in court today for a preliminary exam, according to The Grand Rapids Press. Joseph Peters is charged with attempted false pretenses over $20,000.

Attention was first drawn to Hangar42 after the Mackinac Center broke the story following a months-long investigation by Center analysts, including a call for the Michigan Attorney General to investigate. Fiscal Policy Director Mike LaFaive and Communications Specialist Kathy Hoekstra raised several questions about the matter with an essay and investigative video posted May 20. At issue was the value of the proposed film studio, which those involved said was worth $40 million, even though it had been listed by a real estate agent for $10 million shortly before the deal was announced.

~~~~~

Related Articles:

Friedman Legacy Day

Planning for Life Workshop – Suttons Bay, MI

Michigan Adequacy Study Shows the State Already Spends Plenty on Education

Mackinac Center Weighs in on State’s Education Adequacy Study

How Bad Investment Rate Projections Cause Pension Underfunding

Here's What the NY Times Got Wrong On Detroit Public Schools

Share