KEY RACE: Anderson campaign finances in question
The following press release was sent out by 2004 OFCC PAC endorsee Joy Padgett's campaign earlier this week.
FOR IMMEDIATE RELEASE
Monday, October 25, 2004
ANDERSON CAMPAIGN FINANCES IN QUESTION
(Columbus, Ohio) - Monies provided to fund the state senate campaign of Terry Anderson may violate Ohio campaign finance laws it was discovered this week. Following the required disclosure of campaign finances on Friday, Anderson's campaign is being referred for investigation to the Ohio Elections Commission by Ohio Secretary of State Ken Blackwell.
In question are a series of loans Anderson made to or secured for his campaign, unlawfully funding the campaign with either personal funds, an illegal corporate contribution, or a combination of both.
"Under any circumstance, Mr. Anderson has broken the law," said Padgett campaign consultant Scott Borgemenke. "Either he has accepted an illegal corporate contribution, secured the loan in excess of his own personal funds cap, or someone else secured the loan on his behalf exceeding their contribution limit."
Under Ohio Administrative Code 111-1-03(H)(2), a bank loan to a political campaign will be deemed an illegal corporate contribution unless, among other requirements, it is "made on a basis which assures repayment." In other words, the bank loan must be secured by a guarantor, a co-signor, or some other form of security.
Anderson's report discloses no form of security. But, if secured, the amount will exceed both personal funds and contribution limits. As reported, the loan appears to be an illegal corporate contribution.
In addition to the Secretary of State's action, the campaign of state Senator Joy Padgett is demanding that the campaign either refund the illegal corporate contribution or - if the campaign finance report misrepresented the loan by failing to disclose the security for such a loan - rectify the filing and follow the law.
Commentary:
Terry Anderson officially announced his candidacy for Senate on December 29. At that event, Anderson revealed his position on concealed carry reform.
"To me, it's a false issue," he said. "It's a hot-button issue that gets to people's emotions, but it's not relevant to most real lives here. Passing concealed carry is not going to bring one more dollar into the schools of southeastern Ohio."
Padgett has been involved with state government since 1991, and was the original sponsor of legislation allowing certain Ohioans to carry concealed firearms.
Anderson, a past member of the liberal academic and media-elite, has never held public office.
According to sources, George Soros' 527 group ACT has been heavily involved in working Senate District 20 in support of Terry Anderson.
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