Foe Accuses Sherman of Money Laundering

Republican congressional contender Randy Hoffman this week accused Democratic incumbent Brad Sherman of “laundering” $25,000 in contributions from the Democratic Congressional Campaign Committee.

That is the amount the national party committee gave to help Sherman pay debts from his campaigns for state Board of Equalization and state comptroller.

Accepting the money is “highly unethical” because the committee had already made the maximum contributions allowed to Sherman’s congressional account, said Hoffman’s campaign manager, Todd Slosek.

“It’s just a way a former tax attorney, CPA and incumbent congressman has circumvented campaign finance law,” Slosek said.

Sherman acknowledges he received the contributions, but his campaign manager said the donations were legal and even passed muster with the Federal Election Commission.

“The charge is largely untrue and certainly misleading,” said Peter Loge of the Sherman campaign. “The money is perfectly, 100%, Good Housekeeping seal-of-approval, perfectly legal.”

Loge said Hoffman, a Thousand Oaks businessman, is the wrong one to be screaming about finances.

“He’s so wealthy he can take a year off his job to run for office,” Loge said. “There’s nothing wrong with being rich, the problem is that’s all he brings to the table.”

Hoffman and Sherman are competing for the congressional seat representing Thousand Oaks and parts of the San Fernando Valley.