After Scandal, Former Congressman Collects Thousands for $1M Account
Posted at 2:11 p.m. on July 10, 2013
A former Congressman who was pushed from office by his own party is now adding $25K a month in investment returns to his old $1 million campaign account.
Former Rep. Mark Foley, R-Fla., was pressured by Republican leaders to resign from Congress in September 2006 for his sexually explicit instant messages sent to male congressional pages. Foley’s campaign committee paid $801,385 for legal fees for his defense. Since that time, Foley has been investing the leftover funds in his old campaign account.
The Friends of Mark Foley for Congress reported it had receipts of $77,100 during the second quarter of 2013. The receipts were from investments at Fidelity Investments. The committee had $1,303,685 in cash on hand as of June 30.
Other former members of Congress have held onto campaign accounts and then used the funds to run for election again. Former Rep. Mark Sanford, R-S.C., held onto $120,661 after he left Congress and used it for his recent successful election to Congress in May.
Candidates may not use leftover campaign funds for person use. The funds could be refunded to donors, donated to charity, political parties or used for the candidate’s next federal election.