Judicial Watch
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For Immediate Release |
| Mar 1, 2004 |
Contact: Press Office
202-646-5188
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COMPLAINT FILED AGAINST JOHN KERRY WITH FEDERAL ELECTION COMMISSION OVER LOAN AND REPORTING VIOLATIONS
John Kerry for President, Inc. Failed to Report Contribution of Mrs. Teresa Heinz Kerry
(Washington, DC) Judicial Watch, the public interest group that investigates and prosecutes government corruption, announced today that it has filed a complaint with the Federal Election Commission (FEC) against John Kerry for President, Inc. for failing to report a campaign contribution that appears to be in excess of legal limits.
A review of the reports John Kerry for President, Inc. (“the Committee”) submitted to the FEC indicates that the Committee received $850,000 in unsecured loans from the candidate, including $100,000 identified as “personal funds.” The Committee also reports receiving $5,539,965.80 from the candidate in proceeds from secured loans.
A loan guarantor is considered a contributor, subject to campaign contribution limits, until the loan is repaid. (See: 11 C.F.R. § 100.52.) This regulation applies to a spouse as well as any other related or unrelated individual. A Boston Herald news article published on February 25, 2004, reports that the official City of Boston property assessment value of the home John Kerry shares with his wife is $6.6 million as of January 1, 2003. The Committee received $5,539,965.80 in loans secured at least in part by the value of the Kerry family home, of which Mr. Kerry could at best have an undivided interest of approximately $3.3 million, depending on the form in which the property is held.
This evidence suggests the Committee failed to report a campaign contribution from Mr. Kerry’s spouse, Mrs. Teresa Heinz Kerry, to the extent that her property rights in the Kerry family home or any other jointly held property are pledged as collateral for any or all of the secured loans received by the Committee. It also suggests that her contribution is in excess of the $2,000 maximum aggregate campaign allowed by law.
”Quite simply, Senator Kerry’s loan raises questions and the FEC needs to investigate,” stated Judicial Watch President Tom Fitton.
A copy of the complaint is available by clicking here (Adobe Acrobate Reader Required).
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