The Federal Election Commission has issued a rare unanimous decision against Senator Ted Cruz (R-TX). The agency has found that Cruz violated federal election law in his campaign for Senate in 2012.
The FEC determined that Cruz improperly handled $1.1 million in campaign loans from Goldman Sachs and Citigroup. The Senator claimed it was his own money that fueled his campaign, and not that of either investment bank.
Federal election law allows candidates to provide an unlimited number of their own resources to their campaigns when properly disclosed. During a rather tough re-election battle, Cruz boasted that his commitment led him to liquidate his personal assets to fund his campaign.
Auditors examining Cruz’s accounts found his personal contribution far exceeded the value of the assets he had sold.
Cruz put about $300,000 of his own money into the campaign and then concealed bank loans of more than $1 million.
A spokesperson for the Cruz campaign dismissed the crimes as an “inadvertent” mistake.
The FEC has not yet revealed what type of penalty will be imposed on Cruz for his flagrant violation of U.S. election laws.
This isn’t the first time Senator Ted Cruz has shown complete disrespect for U.S. laws that are deemed inconvenient for his own actions and it probably won’t be the last time.
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James Kosur is the former Editor-In-Chief and co-founder of Hill Reporter. He recently served as an editor for Business Insider and various other publications. James and his partners sold Hill Reporter to a new owner in July 2019.