The sale of the lobbying and consulting firm, Governance Inc., from Scott Maddox to Paige Carter-Smith is a central focus of the FBI investigation.
The recently released FBI probable cause search warrant alleges that Maddox maintained control of Governance even after the sale to Carter-Smith.
Tallahassee Reports has obtained a copy of the contract which was turned over to the Florida Commission on Ethics during an ethics complaint investigation.
The handwritten contract shows that the business was sold for a $100,000 under the following terms:
Any or all carry over losses will remain with seller.
Said consideration shall be paid in full no later than seven years from execution of this agreement.
The contract was signed by Scott Maddox and Paige Carter-Smith on March 12, 2010.
The Tallahassee Democrat reported that Carter-Smith paid Maddox $106,000 for contractual work in 2011 and 2012 — more than she paid him for the entire company. Maddox said he stopped working for Carter-Smith before he filed qualifying papers to run for the City Commission in 2012.