Cruz did not disclose Goldman Sachs loan during 2012 Senate campaign: report

by Elliot Smilowitz - 01/13/16 7:22 PM ET

Sen. Ted Cruz (R-Texas) did not disclose a loan from Goldman Sachs to his 2012 Senate campaign, The New York Times reported Wednesday evening.

Cruz and his wife, Heidi, who works at the Wall Street financial giant, reported putting $1 million of “personal funds” into his campaign.

{mosads}The Tea Party darling told the Times at the time it was “all we had saved.”

But a review of financial disclosures that the senator filed later showed that the Cruzes got low-interest loans from Goldman Sachs and Citibank, maxing out at $1 million, which were paid down later in 2012.

The loans did not appear in Federal Election Commission paperwork the campaign filed during the race.

A spokeswoman for Cruz’s presidential campaign told the Times that the Goldman loan was the source of the couple’s donation to Cruz’s 2012 campaign.

She called the failure to report the Goldman loan “inadvertent,” adding that the “transactions have been reported in one way or another on his many public financial disclosures and the Senate campaign’s F.E.C. filings.”

A staffer for Cruz’s campaign responded Wednesday evening to the Times report, mockingly calling the story a “bomb” and adding, “Cruz borrowed money and paid it back.”