Financial Questions & Outstanding Debt
- Jade Alexandra
- Sep 22
- 5 min read
Late Rent Payments, Eviction Threats
"Rep. Cory Mills pays nearly $21,000 a month for a D.C. luxury penthouse in a swanky building that overlooks the Tidal Basin, the Wharf, and the Thomas Jefferson Memorial. At least, he’s supposed to pay that much in rent. But according to an eviction lawsuit filed in D.C. Superior Court, Mills slipped $85,000 in arrears by not paying rent from March to July. That was after he was served notice in January that the building management company intended to sue over the more than $18,000 he apparently owed at that time." - Source: Cory Mills vs. the truth: Top 10 times the GOP wunderkind played fast and loose with the facts - Blaze Media
"According to Sollenberger’s reporting, Mills has paid more than $15,000 in late fees since he began renting the D.C. penthouse in June 2023. That’s approximately $850 per month “for the privilege of paying rent late every month,” Sollenberger wrote on X on July 14." - Source: Florida congressman facing eviction lived in luxury with 'magnificent views" - The Daytona Beach News-Journal
How did Cory Mills go from from lawsuits and liens to owning million dollar homes with no recorded mortgages?
2012 - $11,369 Income Tax Lien
2014 - Foreclosure lawsuit summons on Jacksonville condo
2015 - Mills came up with a grant deed owning Prairie Astor Dr., Ashburn, VA for $1,350,000; no mortgage was recorded
2017 - Cory Mills and Rana Alsaadi receive a Grant Deed for 1198 Windrock Dr, McLean, Virginia; transfer value of $4,175,000, no mortgage was recorded
2019 - Took out numerous commercial loans from XIGENT Automation Systems, Inc., Deere and Deere, and Waygar Capital, Inc. (Mills signed over patent rights to Waygar Capital, Inc., a foreign entity)
November 8, 2019 - $208.745.95 Income tax lien filed against Rana Alsaadi
November 18, 2020 - $33,951.78 income tax lien filed against Rana Alsaadi
2021 - Mills took out multiple foreign loans
Waygar Capital (Foreign Loan) - $4.29 Million
Waygar Capital (Foreign Loan) - $8.6 Million
June 15, 2021 - $111,815.29 IRS Tax Lien filed against Pacem Solution International LLC for unpaid taxes. Lien discharged September 21, 2021. Another lien filed for $592,278, released in 2024.
“As of 2021, $641,500 of Mills’ campaign funding came through Mills’ personal loans.” Waygar Capital Article on OPM Wire
2021 - Mechanics Lien for $49,481 for not paying contractor
2021/2022 - Mills was delinquent in paying his property taxes and received late fees, penalties, and interest charges
Prairie Astor home sold at a loss to cover some of their loans and tax liens.
1198 Windrock also sold to satisfy a lien.
According to his 2023 Financial Disclosures made to congress, Mills claimed to have made over $1,000,000 from January 2023 to May 2023. As of May 2023, Mills claimed to be a "former business owner" but remained the sole member of PACEM Solution International LLC; as of February 2024 this remains true. According to Florida Sunbiz.org, his name was taken off of his income producing entities. He also lost his rent out of PACEM Estate Holdings in Perry, FL and his income from ALS, Inc.
Federal law states that congressmen must notify congress of all changes in liabilities and assets within 30 days
Mills sold his home in June 2023 and transferred his businesses out of his name in January 2023
As of February 2024, Mills has not notified congress per the law
"On Aug. 13, 2024, Mills filed a financial disclosure for the year 2023, but did not disclose any earnings − including his $174,000 congressional salary − other than commercial real-estate rental income for a building in Perry. The document only lists a range of between $100,001 and $1 million. ... In March 2023, Mills filed an amended disclosure to presumably clear up a discrepancy in his previous two filings. Mills earned $310,271 from his business, Pacem Solutions International, in 2022, while his spouse, Rana Al Saadi earned $233,469 from the same business, the document shows. Mills also collected rental income in the same range as 2023. It stated he had earned $587,248 from the business in the first two months of 2023, the year he entered the House." - Source: Florida congressman facing eviction lived in luxury with 'magnificent views'
Claims to be a successful businessman and business leader, but sales for ALS, Inc. plummeted after his acquisition of the company. See more details here.
Outstanding Debt
Loans of approximately $23,000,000 are owed to Waygar Capital, Inc., in Toronto, CA for his business and business cash flow; the FEC is investigating how some of these funds made it from his business to his campaign fund
Refer to audio recording above of Waygar's CEO describing Issuer 10 (i.e. PACEM) to investors in March 2022
"In a presentation to investors, Waygar said, “we anticipate that issuers 2, 9, and 10 [Pacem] will be exiting the fund by late Q4 or early Q1 2023.” Despite Ninepoint "calling" the loan, PACEM hasn't paid down their debt as of September 2023."
The finding that "ALS was acquired for $10 million is very interesting. How can the same company have $50 million in debt now? Mills told Business Insider that the loan was for R&D. However, Ninepoint tells investors that they only loan against assets. Financing R&D is risky. For what I can see, the R&D hasn't yield any significant results, since no Patents have been filed by PACEM or ALS (fka Amtec Less Lethal) since 2017." - undisclosed source
"As you would expect, a congressman dealing with selling hundreds of millions in munitions to foreign governments would attract scrutiny from the US media."
[NOTE: Members of congress can only make 15% above their salary. Additionally, members of congress are not allowed to earn income from foreign entities/contracts or federal contracts.]
"An Insider examination of his business dealings, though, found that Pacem has had deep ties to foreign governments and is struggling financially.’ Beyond reporting that Pacem was ‘struggling financially,’ Business Insider partially corroborated our findings by saying that Mills had obtained financing from a Canadian lender. They also disclosed the use of proceeds from the loan."
The Waygar loan is currently outstanding. “Pacem is also loaded with debt: It owes $48 million to a Canadian lender, nearly five times the company's highest potential valuation. Mills said the loan was funding research and development.” - OPM Wire
Waygar wants to foreclose but they’re stuck because there’s no equity in PACEM/ALS
“Today, in order for the Ninepoint-Waygar Fund to get fully repaid, it seems that Issuer 10 (PACEM) will need to sell its assets for no less than $61.6 million.” - OPM Wire
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