A new report out today found that wealthy East Coast developer Matt Rosendale is using a shady campaign finance scheme, which a campaign finance law expert said was “whacky.”
Rosendale is using “a pretty ambitious end-run around campaign finance laws made possible only by Rosendale’s extensive personal wealth” that allows him to skirt campaign finance laws and effectively accept more than the legal limit per cycle for individual contributions.
Daily Beast: GOP Senate Hopeful Cooks Books, Skirts Donation Limits
By Lachlan Markay
July 12, 2018
- “Tom Rastin and his wife, Karen Wright, kept giving Rosendale more than the $5,400 each individual can legally donate to a campaign per election cycle.”
- “But with some creative accounting, it appears the the Rosendale campaign figured out a way around the limits – not only for Rastin and Wright, but for other max-out contributors to the campaign.”
- It’s a pretty ambitious end-run around campaign finance laws made possible only by Rosendale’s extensive personal wealth.
- “…the Rosendale campaign pulled an audacious accounting maneuver. On May 14, it used the money from those nine donors to repay $32,831 of the debt the campaign committee still owed to Rosendale. The very next day, Rosendale re-lent the exact same sum to the campaign. In effect, donations to Rosendale’s 2014 campaign were routed through the candidate’s personal bank account and transferred to his 2018 campaign.
- “After the transaction took place, the campaign still owed Rosendale the same amount of money, but he had effectively removed the cash supplied by those nine donors from his campaign’s 2014 balance sheets and placed it on those of his ongoing senate effort, allowing those donors to nearly double the sums they can provide to the latter.”
- “Brendan Fischer, the director of FEC reform programs at the Campaign Legal Center, called the scheme ‘pretty wacky’”
This article was originally posted on the Montana Democrats website. To read the full article click on Rosendale Cooks Books.