Sen. Ted Cruz's campaign is paying a $35,000 fine to the Federal Election Commission for failing to accurately report more than $1 million in loans that helped underwrite his first Senate bid
The federal election watchdog found that Cruz used a line of credit from Citibank and borrowed against the Goldman Sachs brokerage account he held with his wife to come up with $1.06 million for his 2012 campaign. Campaign officials inaccurately described the money in Federal Election Commission filings as coming from Cruz's personal funds, according to an agreement between federal regulators and the Cruz campaign posted online Friday by the nonprofit Campaign Legal Center.
Earlier this week, for instance, the agency levied a nearly $1 million fine against a super PAC supporting Jeb Bush's 2016 presidential campaign and a Chinese-owned corporation after concluding they broke the law barring foreign interference in US elections.The Federal Election Commission reviews dozens of complaints each year. Last year, it reached so-called"conciliation" agreements in 19 cases with an average fine of $29,747, according to the agency's data.
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