Herman Cain’s political campaign has been paying his own company out of his campaign coffers, TPM reported on Monday night:
A review of Cain’s last two FEC reports shows the campaign transferring just over $100,000 in cash to Herman Cain T.H.E. New Voice, a company that promotes Cain’s books and political philosophy.
The Federal Election Commission has provided “wide latitude for candidates when it comes to campaign spending,” Public Citizen’s Craig Holman explained: “But such spending for goods and services from a personal business cannot be less than market value, or it would constitute an illegal corporate contributions, and it cannot be above market value, or it would indicate converting campaign funds for personal use.”
“Nevertheless, no serious presidential candidate will wade into these murky waters,” Holman continued.
Ryan J. Reilly
Ryan J. Reilly is a D.C.-based reporter for TPM. Prior to joining TPM, he worked for a news website covering the Justice Department and was a researcher for Bloomberg News. His email address is ryan(at)talkingpointsmemo.com.
Facebook Conversations
Questions about commenting with non-Facebook accounts like Yahoo, or other concerns? Click here to read the TPM Commenting FAQ.