WASHINGTON (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.