Presidential Campaign Sets Off Probe into Marco Rubio’s Finances

Lorenzo Bevilaqua/ABC News(MIAMI) — Presidential hopeful Marco Rubio has seen his personal finances come under scrutiny as he continues his campaign for the White House. On Tuesday, The New York Times published a detailed examination of the finances of Rubio and his wife, Jeannette Dousbedes, who live with their four children in West Miami.

The story included a rundown of some of Rubio’s most recent financial transactions, including liquidating a retirement account, payments from a book deal, the purchase of a boat and the lease of a luxury car. The newspaper also detailed some of his real estate dealings, including the purchase of a West Miami home in 2005.

ABC’s George Stephanopoulos interviewed Rubio on the day of his presidential announcement in April, getting a rare inside glimpse of the home.

Here’s what The Times reported:

Within a few years, Mr. Rubio had landed a job at a high-profile Miami law firm paying him $300,000 a year. As he would later do with the proceeds from his book, Mr. Rubio spent heavily.

First, he bought a house in Tallahassee with another state lawmaker for $135,000, again putting no money down.

Then, by the end of 2005, the Rubios completed the purchase of a new home, twice the size of their previous one, for $550,000. The house, among the more expensive in West Miami, stood out from the aging homes nearby: It includes an in-ground pool, a handsome brick driveway, meticulously manicured shrubs and oversize windows.

Within a few weeks of the home purchase, Mr. Rubio, then a Republican leader in the House, borrowed $135,000 through a home equity line to pay for improvements to the house, from a politically connected Miami-based bank, U.S. Century, after the house was reappraised at $735,000.

Responding to The Times story, Rubio spokesman Alex Conant said: “Getting rich is not what has driven Senator Rubio’s financial decisions. His goal at this stage in his life is to provide his four children with a good home, a quality education, and a safe and happy upbringing.”

Copyright © 2015, ABC Radio. All rights reserved.

g_marcorubio_071125899613

Rubio meets with Chinese foreign minister

Joe Raedle/Getty Images (WASHINGTON) — Secretary of State Marco Rubio said on Friday after his first meeting with Chinese Foreign Minister Wang Yi that their talks were “positive and constructive” and could pave the way for a