FEC unanimously votes to approve report Edwards owes $2 million

Reuters News
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Posted: Jul 21, 2011 11:53 AM
FEC unanimously votes to approve report Edwards owes $2 million

WASHINGTON (Reuters) - The Federal Election Commission voted unanimously on Thursday to approve a final audit report that concluded former presidential candidate John Edwards' campaign owes the government more than $2 million.

The Commission voted 6-0 in an open meeting to approve the June 23 memorandum from the chief compliance officer and the audit division of the FEC, which said the Edwards campaign owed $2,278,315.

The report found that John Edwards for President (JFEP) received matching funds in excess of Edwards' entitlement as a candidate, misstated its cash-on-hand balance by nearly $100,000, failed to itemize loan repayments totaling over $4 million, and stale-dated at least 128 checks totaling $141,808.

Federal law requires the commission to audit every political committee established by a candidate who receives public funds for the primary campaign, commission members said.

(Reporting by Molly O'Toole; Editing by Jerry Norton)