Trouble continues to find Daniel Snyder. Or, the Washington Commanders team owner continues to court trouble.
ESPN reported Tuesday that Snyder’s issues with his minority owners began nearly three years ago.
Per ESPN, Snyder is said to have taken out a $55 million credit line 16 months before an April 2020 financial report.
The secret $55 million loan has become a primary focus of federal prosecutors in Virginia who are investigating allegations of financial misconduct by Snyder and the Washington Commanders, multiple sources with firsthand knowledge of the inquiry told ESPN.
A federal grand jury has issued subpoenas for a cache of documents related to the team’s finances, including the loan. Prosecutors acquired the partners’ NFL arbitration petition and other supporting materials, including emails and letters between team executives and bank lawyers, documents show. The criminal inquiry is being led by a team of FBI and IRS agents, sources said.