CAMPAIGN ’96 : FEC Asks Whether Forbes Inc. Illegally Gave to Campaign
The Federal Election Commission is questioning whether Forbes Inc. gave its president, Steve Forbes, thousands of dollars in illegal corporate contributions in the form of advances from the company that were later repaid by the campaign, according to documents on file with the FEC.
But the campaign said Wednesday that its dealings with Forbes Inc. complied with the law. It said it paid fair market value for its use of Forbes facilities and paid the company upfront--as required--for the use of its corporate aircraft.
Federal law bars corporate contributions to candidates, and the FEC told the Forbes campaign in a letter that its actions could present “a serious problem.”
Forbes’ filings with the FEC show the campaign noted reimbursements to the company for travel, totaling $6,575. The campaign also paid Forbes Inc. $36,136.61 for rent and telephones.
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