FEC fines Ted Cruz campaign $35K for not disclosing 2012 loans
WASHINGTON, D.C. (AP) — The Federal Election Commission is fining Texas Sen. Ted Cruz $35,000 for failing to disclose that he received loans to help finance his 2012 Senate run.
Cruz said at the time that his family liquidated their net worth to loan $1.43 million to his campaign. But the FEC later found that $1.06 million of that was from loans granted by Citibank and Goldman Sachs, where his wife worked.
Cruz’s campaign did not immediately respond to a request for comment Friday.
The federal agency has not announced the fine publicly. But the nonpartisan Campaign Legal Center, which filed a complaint in 2016 that led to the fine, released documents revealing it.
The loans’ existence was first reported in 2016 by The New York Times.
Newscenter 25 has reached out to Senator Cruz’s press office to get a statement from the senator. We will update you when we have more details.
COPYRIGHT 2020 THE ASSOCIATED PRESS. ALL RIGHTS RESERVED. THIS MATERIAL MAY NOT BE PUBLISHED, BROADCAST, REWRITTEN OR REDISTRIBUTED.