Chicago man’s $400K appliance repair costs are a steal, report says
Chicago man Greg Kelley is now a millionaire after his $400,000 appliance repair bill came to $8.5 million.
The report by the watchdog group Taxpayers for Common Sense details how Kelley’s costs were offset by a business investment that allowed him to use his $1.2 million in credit card debt to buy a second-hand Toyota Yaris.
The report also documents Kelley’s extensive tax avoidance tactics, including his failure to pay income taxes on his $3.9 million in sales tax refunds, the report said.
The nonprofit organization’s report said Kelley’s expenses in 2012 were $4,096.85.
That same year, he paid a $200,000 penalty for a failure to report an adjusted gross income of $3,898,500, according to the report.
A spokeswoman for the city said Kelley was reimbursed $200 for his expenses in 2010 and 2011 and $350 for the same amount in 2012.
The city said it paid the refund to Kelley in March 2014 and that the tax credit expired in December 2015.
Kelley told the Tribune that he was surprised to learn that his credit card bill was $1 million, and that it took some time to process it.
The city said he has since filed a claim with the state to recover the refund.
Taxpayers for the Common Sense, which is funded by the estate of famed New York financier William Randolph Hearst, said it was unable to determine how much Kelley was able to save by using his credit cards to pay down his credit.
Kellys spokesman Jason Lomax said Kelley has been reimbursed the money.
Lomax would not comment on the report’s methodology, saying it would need to be vetted by the city.
Kelman, who has worked for years at the U.S. Postal Service, said he had a small business operation and did not have the funds to purchase the Yaris he purchased from Kelley, who was also the owner of a small landscaping business in the city, according.
He said the Yars were “really good cars,” and that he never thought they would be a problem.
Keller said Kelley had asked him to work on his business in exchange for the $1,200 payment.
“I said, ‘Well, I can’t afford it, so why would I pay for it?'” he said.
Kelsy has a history of using credit cards.
In 2010, Kelley told the Chicago Tribune that the credit card companies have no interest in servicing debt and are not responsible for making payments.
Kellar, whose father died in 2010, said Kelley used the credit cards for nearly everything.
Kelli told the newspaper that Kelley used his credit to buy “a lot of things” but that he did not realize that his payment would add up to $800,000.
He said he used the card for “a bunch of stuff” including a $400 Lamborghini, $1 Million Rolls Royce, a $2.6 million Lamborghinis and $10,000 BMW SUV.
Kettles credit card account was reported to the Federal Trade Commission last year for violating the FTC’s Unfair Business Practices Act.