Ted Cruz is in the middle of a controversy regarding undisclosed loans he took to finance his presidential campaign.
"Sweetheart, I'd like us to liquidate our entire net worth, liquid net worth, and put it into the campaign," Cruz is reported to have told his wife Heidi, according to the New York Times. Cruz's wife willingly agreed.
But the New York Times reports that the couple's decision was helped to a large extent by two loans from Goldman Sachs and Citibank, totaling between $750,000 to $1 million. Cruz's wife is on leave as a managing director at Goldman Sachs.
"I told you it was going to happen, and last night it did. Last night The New York Times wrote a disgraceful story - placing it on their front page above the fold - in a shameful attempt to not only affect tonight's debate but also change the ultimate course of the 2016 election," Cruz, one of the most successful fundraisers in the 2016 race, wrote in an email to supporters titled "Debate bombshell," reports CNN.
"Just before the most important presidential debate of the election - and with less than 18 days until the first votes are counted in Iowa - The New York Times made the strategic decision to dictate the outcome of this election by launching an all-out assault on Heidi and me. This could prove to be the most important day of the campaign, and I need you by my side.
"You and I have already faced brutal attacks since I announced my campaign, some from Hillary and some from my opponents, but every time we have gotten stronger," he continued. "Now the liberal, media elite are truly desperate to discredit and destroy me - by any means necessary. Will you make an emergency donation?"
The New York Times reported that Cruz had not reported the loans to the Federal Election Commission.
"These transactions have been reported in one way or another on his many public financial disclosures and the Senate campaign's F.E.C. filings," said Cruz campaign spokesperson Catherine Frazier, calling the failure to report the loans "inadvertent," reports the New York Times.
According to Cruz, the loans "had been disclosed over and over and over again on multiple filings. If it was the case that they were not filed exactly as the FEC requires, then we'll amend the filings, but all of the information has been public and transparent for many years," he said, according to the New York Daily News.
