MN: Lawmaker (R) dinged in audit of campaign finance report
A nonpartisan financial watchdog group says state Sen. Nathan Wesenberg’s 2023 campaign finance report indicates he may be using campaign contributions for personal gain. A spokesman for Wesenberg says his campaign made a clerical error that will be fixed this week.
A group of finance professionals called Pinching Pennies of Politicians — which audits politicians’ campaign finance reports in the name of transparency and accountability — audited the Little Falls Republican’s 2023 year-end report.
Wesenberg lent his campaign $10,805. He then reported making a $5,000 payment on the principal and $1,000 interest payment to himself. The principal on the loan was listed as unchanged — despite the $5,000 payment. That would amount to 9.25% interest during a time when most investments brought less, the auditors said. Candidates don’t pay interest on campaign loans, the watchdog group said, and concluded Wesenberg filed a misleading report. He also didn’t report the $1,000 as personal income, presumably on his statement of economic interest.
“This income may have been improperly reported and not subjected to income tax,” the report said. “Essentially, he has set up a personal investment fund.”
https://www.newsfromthestates.com/article/lawmaker-dinged-audit-campaign-finance-report-%C2%A0