As he weighs options for his next run for political office, former Congressman Frank Guinta has emptied his campaign account, writing himself a $25,000 check in the process.
In paperwork filed with the Federal Election Commission, Guinta reports having just $148 left in his campaign account at the end of March. The former congressman paid himself $25,000 as partial repayment for personal loans to the campaign. Guinta has now paid back $66,500 of the $355,000 he loaned the campaign, leaving a loan balance of $288,500.
As former New Hampshire Republican Party chair Fergus Cullen noted previously, political candidates typically do not repay personal loans:
While many candidates loan personal funds to their campaigns, repayment is less common. Former Congressman Jeb Bradley and Governor John Lynch are among the New Hampshire candidates whose personal loans to campaigns were never repaid, in part to avoid the potential conflicts of interest that can arise when campaign contributions become personal payments.
Guinta has been dogged by ethics controversy since reporters first questioned the source of the funds he loaned his campaign. The First District Republican eventually amended financial disclosure reports and identified the source as a previously undisclosed bank account. Guinta blamed the omission on an “inadvertent oversight.”