Already facing questions about financial ties to oil executive Majid Mojibi, former state Sen. Michael Rubio (D-Shafter) on Friday disclosed an additional partnership funded by Mojibi to buy an office building and agricultural land.
Rubio, who abruptly resigned last week from the Senate to take a job with Chevron Corp., had already confirmed that investment firm DCM Asset Management, headed by Mojibi, purchased a Bakersfield house in a short sale from Rubio in 2011 and provide a loan so Rubio could buy an El Dorado Hills home for $681,000. Rubio later sold the house back to DCM and now rents it from the firm.
Mojibi is also president of San Joaquin Refining Co.
On Friday, Rubio filed a financial disclosure statement required by the state in which he disclosed the 6% loan from DCM for the El Dorado Hills house. His statement also disclosed for the first time that he formed an additional partnership funded by Mojibi, M&R Investment Group LLC, on Sept. 11, 2012, to own and operate property.
Rubio disclosed that Mojibi provided loans of more than $200,000 to allow the partnership to buy an office building in Bakersfield and some agricultural land. Rubio says he received no income from the new partnership last year.