FEC audit slams Cruz for undisclosed campaign loans


An audit by the Federal Election Commission (FEC) has cast Sen. Ted Cruz (R-Texas) in a bad light, over improper loans he received during his 2012 campaign for Senate.

Cruz, whose wife, Heidi Cruz, is a former Goldman Sachs employee, reportedly received an $800,000 loan from Goldman Sachs and a $264,000 loan from Citigroup which had not been disclosed to voters.

Additionally, Cruz had loaned his campaign about $336,000 from his personal funds.

The loans were first brought to light in January 2016, while he was running for president, The Hill reported.

Cruz had reportedly stated in 2012 that he was liquidating his personal assets in order to finance his campaign, but it was discovered that he had not sold enough financial assets to account for the $1.4 million he had received.

The FEC posted it’s findings on their website, with all five commissioners agreeing that the loans from Goldman Sachs Group and Citigroup should have been disclosed to voters.

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