Sherman Attacks Lipow on Financial Disclosure

Congressional candidate Brad Sherman has filed a formal complaint with the House Ethics Committee, requesting “immediate and appropriate action” against Democratic rival Jeff Lipow for allegedly failing to disclose his personal finances.

As of Friday, the clerk of the House of Representatives had not received a financial disclosure statement from Lipow, who has put $131,634 of his own money into the race against Sherman and five other Democrats in the 24th Congressional District, which stretches from Malibu to the San Fernando Valley.

“Voters need to have confidence in the system and make sure that everybody is following all the rules,” said Jeffrey W. Monical, Sherman’s campaign manager. “Whether he is trying to hide something or not, it leads voters to be cynical about the process.”

Lipow said he vaguely remembers the disclosure form and has deferred most of these matters to his campaign treasurer, Rick Parker. Parker said he mailed the form to the clerk of the House on Feb. 25, and produced a copy of the five-page form that details Lipow’s salary as a Century City lawyer, his financial assets and liabilities.

Neither Parker nor Lipow could offer an explanation for why the House clerk’s office has no record of the document.

“We have made efforts to comply with all the laws,” Lipow said. “If I am in noncompliance, it would have been an oversight and unfamiliarity with this complicated process of running a campaign.”

Under federal law, candidates for federal office must file these statements within 30 days of raising or spending $5,000 on their campaigns. Lipow reached that threshold in mid-January and was required to file his statement by mid-February.

A spokesman for the House Ethics Committee said he could not comment on any specific complaint. But he said such cases can lead to a $200 late-filing fee or harsher penalties if the committee determines that the Ethics in Government Act was willfully violated.