Roll Call: Latest News on Capitol Hill, Congress, Politics and Elections
December 21, 2014

Former Sen. Larry Pressler Still Not Going For The Money

A former U.S. Senator, who could not be bribed, is returning to the campaign circuit after earning only a modest amount from teaching and consulting work during the last two years.

At the end of December, former South Dakota Republican Sen. Larry Pressler,  started his 2014 candidacy as an Independent for the U.S. Senate seat now held by Sen. Tim Johnson, D-S.D.  Pressler served in the Senate from 1979 to 1997, and served in the House from 1975-1979. Pressler lost to Tim Johnson in 1996. Johnson has announced he would not seek re-election in 2014.

In a new filing or his personal wealth, Pressler appeared not to have gone for big dollar contracts or lobbying work. He reported only a few paying clients over the last two years. The new report indicated he received $30,000 in earned income or non-investment income in the last two years from Blackhorse University Broward (FL) for advice on the sale of their branch in Vietnam; $20,000 from RE/Max Allegiance (DC) for commissions (which may have been his spouse’s income); $15,000 from Multivision Inc. (VA) for advice on predatory pricing legal issues; and $14,000 from Sciences Po University (Paris, France) for teaching as a professor of International Relations.

His personal wealth report listed ownership of two farms, one in Gregory, South Dakota valued at $50,001 to $100,000; another farm in Humboldt, South Dakota valued at $15,001 to $50,000.

His investments ranged in value from 647,028 to $1,780,000. The disclosure forms only require values to be listed in wide ranges, such as $50,001 to $100,000.

He reported his spouse had between $136,009 and $440,000 in investments. Candidates are not required to disclose the value of their personal residence (if it is not used for producing income), their government retirement programs, or social security income.

Pressler gained attention during the Abscam scandal when he was the only one of nine members of Congress who refused to be bribed by undercover FBI agents. He also reported the bribe attempt to the FBI.

To search detailed money-in-politics databases, visit Political MoneyLine.

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