Ted Cruz Failed To Disclose Ties To Caribbean Holding Company
Texas Republican Senator Ted Cruz potentially violated ethics rules by failing to publicly disclose his financial relationship with a Caribbean-based holding company during the 2012 campaign, a review of financial disclosure and company documents by TIME shows. The relationship originated with a $6,000 investment Cruz made more than a decade ago in a Jamaican private equity firm founded by his college roommate.
When Cruz later reported the financial relationship in 2013, he failed to comply with Senate rules requiring full identification of the holding company and its location, triggering an inquiry by Senate Select Committee on Ethics staff and a second amended disclosure. After additional inquiries by TIME this week, Cruz said he is now in the process making further corrections to his disclosure.
Cruz told TIME Thursday that the initial failure to report the financial relationship was an oversight that he corrected last May on his own initiative in…
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