Dan Snyder Is Under Investigation , Over Line of Credit Taken Out by Commanders.
According to ESPN's Don Van Natta Jr., federal prosecutors have made a "secret" $55 million loan the "primary focus" of their investigation.
According to ESPN's Don Van Natta Jr., federal prosecutors have made a "secret" $55 million loan the "primary focus" of their investigation.
FBI and IRS agents are involved in the criminal inquiry.
FBI and IRS agents are involved in the criminal inquiry.
The loan was reportedly included in the team's April 2020 financial report as a footnote.
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The note revealed a $55 million credit line the team had taken out 16 months earlier without the knowledge and required approval of Snyder's minority partners—the three billionaires who owned 40 percent of the franchise, according to documents obtained by ESPN.
, Van Natta, via Bleacher Report.
Snyder's former partners, Fred Smith, Dwight Schar and Robert Rothman, reportedly "demanded" that the NFL should look into where Snyder got the loan.
Smith, Schar and Rothman claim Snyder treated the Commanders as his "personal piggy bank.".
The former minority owners were bought out when the NFL approved Snyder's bid to acquire their 40.5% stake for $875 million.
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A source told Van Natta that the league "had no interest in finding out what happened.".
Neither the NFL's arbitrator nor Roger Goodell looked into the matter.
Neither the NFL's arbitrator nor Roger Goodell looked into the matter.
The U.S. House Committee on Oversight also recently found Snyder had perpetuated "sexual harassment, bullying and other toxic conduct" within the organization.
The U.S. House Committee on Oversight also recently found Snyder had perpetuated "sexual harassment, bullying and other toxic conduct" within the organization
