Lt. Gov. Amy Tuck has repaid a personal loan she received from a company allegedly connected to rogue financier Martin Frankel. Tuck said she refinanced her home earlier this year to repay the $20,000 loan from North Mississippi Supply Company, as well as another loan.
The state is suing the company, owned by Thurston Little of Corinth, to recoup money that Martin Frankel allegedly stole from Mississippi insurance companies. Little allegedly helped Frankel deal with state regulators and is accused of receiving $6.4 million in stolen money from Frankel that had been routed through a Swiss bank.
Tuck said she was not aware of Little's business relationship with Frankel when she took out the loan. Tuck said the loan was made in 1999 at about six percent interest, and was based on an oral agreement.
Frankel, a Connecticut financier, pleaded guilty last year to stealing money from insurance companies in Mississippi, Tennessee, Arkansas, Missouri and Oklahoma.
Thurston Little is the brother of state Sen. Travis Little, the Senate president pro tem. Travis Little was not named in the state's suit.
This is not the first time Tuck's loans have been in the spotlight. Earlier this year, Tuck at first refused to name the source of more than $500,000 of a 1999 campaign loan. It was later revealed that Pascagoula trial lawyer Richard "Dickie'' Scruggs paid off her loan. Tuck later repaid Scruggs.
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