U.S. Supreme Court Associate Justice Clarence Thomas poses during a group portrait at the Supreme Court in Washington, U.S., October 7, 2022. REUTERS/Evelyn Hockstein/File Photo Justice Clarence Thomas to tell the committee whether he declared more than a quarter-million dollars of loan forgiveness on his tax filings.that details a loan that Thomas received from a friend, Anthony Welters, to buy a luxury Prevost Marathon motor coach in 1999.
Welters said in a statement: “I believed Justice Thomas satisfied the loan. Because the loan was made 25 years ago and completed 15 years ago, bank statements – which I sought – no longer exist. ... While I understand the attention given who this involves, the difference between what you’re comparing to and what happened here is that a friend lent another friend money. As anyone who has borrowed from or lent to family or friends, it’s simply not the same as a bank.
They show that on Dec. 6, 1999, he lent the Thomases the entire purchase price of the motor home with an annual interest rate of rate of 7.5 percent. That was comparable to market rates, but the agreement said that over the course of five years, Thomas would make only interest payments.