The Hill: Watchdogs file complaint against Cruz on undisclosed loans

The complaint on Wednesday from the Campaign Legal Center and Democracy 21 comes about a week after The New York Times reported Cruz had failed to disclose two loans worth up to $500,000 each, one from Citibank and another from Goldman Sachs.

While Cruz claimed that he and his wife had liquidated their “entire net worth,” and put it into the campaign, the Campaign Legal Center said it appears he used both personal and joint assets to secure loans from the two banks and then failed to disclose he had done so.

“The failure to report these loans is a clear cut violation of the law and kept voters in the dark about the money behind the Cruz campaign,” Paul Ryan, the center’s deputy executive director, said in a news release. “If he also used his wife’s assets to obtain these unreported loans, he caused his committee to accept illegal excessive contributions from his wife.”

To read the full story at The Hill, click here.