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Sharpton Agrees to Pay FEC $100,000 NewsMax.com Wires WASHINGTON -- Former presidential candidate Al Sharpton has agreed to repay $100,000 plus interest to the government for taxpayer funds he received as part of his failed 2004 bid. Sharpton, an activist minister from New York whose effort to win the Democratic nomination racked up more debt than votes, has been at odds with the Federal Election Commission for more than a year over his personal loans to his campaign. Repayment of the money was a deal with the FEC that was announced Thursday. Around the time Sharpton the minister made the loans to Sharpton the candidate, he was touring churches around the country, collecting "love offerings" which were payments to support him as a minister. He then gave his struggling campaign about $110,000. To qualify for federal matching funds, a candidate must not spend more than $50,000 of his own money on the campaign. An FEC investigation concluded Sharpton spent more than $110,000 of his own money. Story Continues Below
The repayment agreement was signed last week. FEC spokesman Ian Stirton said Sharpton has already paid $50,000, and is scheduled to make two further payments in January and February. In its last filing of 2004, the campaign reported more than $500,000 in debts. Sharpton said the deal proves his critics wrong, particularly those who had claimed he was misusing campaign funds to stay at expensive hotels. "I was right to begin with and I still say I'm right," Sharpton said in an interview. "The victory here is that all these right-wing people were saying I had done something wrong to get the funds and the FEC didn't say that." © 2005 Associated Press. All Rights Reserved. This material may not be published, broadcast, rewritten or redistributed. Editor's note: Read more on this subject in related Hot Topics:
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