Home>Campaigns>Gilmore owes nearly $5 million in tax liens, judgments

Former Ocean County Republican Chairman George Gilmore. (Photo: Kevin Sanders for the New Jersey Globe).

Gilmore owes nearly $5 million in tax liens, judgments

Ex-Ocean GOP Chairman, seeking a comeback next month, is fighting more lawsuits that could increase his debts

By David Wildstein, May 26 2022 12:37 pm

George Gilmore, who is seeking to regain his post as Ocean County Republican Chairman in June, owes $4,755,008 in unpaid judgments, mostly to the Internal Revenue Service, with an additional $609,000 on pending litigation, court records show.

Gilmore served as county chairman from 1996 to 2019, when he resigned following his conviction on tax-related charges.  The conviction was upheld on appeal, but Gilmore had not yet begun a one-year prison sentence when President Donald Trump pardoned him on his final day in office.

But in April, a U.S. Tax Court ruled that Gilmore still has to pay $3,200,000 in federal tax liens filed by the U.S. Department of the Treasury.

The 73-year-old former party boss also owed $1,397,238 to Ocean First Bank after he defaulted on a loan, but has paid back $1,038,001.

Former Lt. Governor Kim  Guadagno, a close political ally of Gilmore and a director of the bank, did not immediately respond to an 11:25 AM text message to her cell phone asking what the bank is doing to collect the judgment.

A Point Pleasant man, John Casey, loaned Gilmore $75,000 in 2016 and obtained a $57,770 judgment in 2021 after the Ocean GOP leader failed to pay him back.

The State of New Jersey has obtained an $89,000 tax lien against Gilmore.

Gilmore’s debts could go beyond $5.35 million, depending upon the outcome of two pending lawsuits.

Hesenburgh Ventures loaned Gilmore $250,000 in 2007 and executed a mortgage on the former county chairman’s Toms River home as collateral.  The company is suing Gilmore for $334,00 in unpaid principal and interest.  A settlement conference is scheduled for July 13.

AST Financial sued Gilmore in 2020 for $275,000, claiming he never paid a loan they gave him in 2014.  An arbitration hearing is set for June 14.

Some of the judgements are also against Gilmore’s now-defunct law firm, Gilmore & Monahan.

Gilmore faces Sheriff Michael Mastronardy in the race for Ocean County Republican Chairman.

Editor’s note: Gilmore has paid back $1,038,001 to OceanFirst. 

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