Molina would not discuss his debts, but the financial disclosure he filed with the state July 8, 1997, indicates some financial problems. Though he claimed to own property in Nicaragua and Panama, a debtor who owed him $1.75 million wouldn't pay up. That debt relates to a problematic real estate deal in the early Eighties to develop six parcels valued at around six million dollars at Sunset Drive and SW 117th Avenue.
Throughout the past twenty years, Florida records show, Molina has been affiliated with at least thirteen corporations. All are now inactive except one, Voters Constitutional Rights Defense Association, Inc. The group was formed shortly after the panel of judges reinstated Joe Carollo as mayor of Miami in March. Molina is listed as vice president. The treasurer, Placido Debesa, says the purpose of the corporation is to protect voters' rights. "We created this corporation to enforce the elections laws," he explains.