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Ted Cruz: Yes I made a $1 million loan 'paperwork error' and didn't disclose it | |
(about 2 hours later) | |
Texan senator Ted Cruz admitted to a “paperwork error” of failing to disclose a $1 million loan from Goldman Sachs and Citibank to finance his campaign, which bruised his image of being a self-financed Presidential candidate. | Texan senator Ted Cruz admitted to a “paperwork error” of failing to disclose a $1 million loan from Goldman Sachs and Citibank to finance his campaign, which bruised his image of being a self-financed Presidential candidate. |
Mr Cruz has long claimed that he liquidated all his own assets - a total of $1.2 million - to finance his ultimately successful bid to participate in the 2016 Presidential election, as reported by The New York Times. | Mr Cruz has long claimed that he liquidated all his own assets - a total of $1.2 million - to finance his ultimately successful bid to participate in the 2016 Presidential election, as reported by The New York Times. |
But Mr Cruz was discovered to not have publicly filed the loans from two banks - Goldman Sachs, where his wife Mrs Cruz is managing director, and Citibank. | |
During the sixth Republican debate in Charleston Thursday night, Mr Cruz was questioned on his spokesperson's comment that failing to file the loan was “inadvertent”. | |
Mr Cruz said: “When I was running for Senate, unlike [Hillary] Clinton, I didn’t have hundreds of millions in the bank.” | Mr Cruz said: “When I was running for Senate, unlike [Hillary] Clinton, I didn’t have hundreds of millions in the bank.” |
“My wife Heidi and I took a loan and invested everything we have,” he said. | “My wife Heidi and I took a loan and invested everything we have,” he said. |
Mr Cruz was accused of not filing the external financing for his federal campaign with the Federal Election Commission (FEC). | |
“I disclosed that loan on one filing - a public filing - but not with the FEC,” he said. “Yes I made a paperwork error, disclosing one filing and not another. If that's the best hit I can get from the New York Times they can go back to the well.” | |
A new Wall Street Journal / NBC News poll has found this week that Mr Cruz has slipped further behind fellow Republican Donald Trump in the polls, with 20% of the votes going to Mr Cruz while a third prefer Mr Trump. In December, Mr Cruz was only 5% behind Mr Trump. | |
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