NEW: Rich McCormick Fails to Fix Financial Disclosures Despite Ethics Complaint
FOR IMMEDIATE RELEASE
Monday, September 14, 2020
Contact: Monica Robinson, press@carolyn4congress.com
NEW: Rich McCormick Fails to Fix Financial Disclosures Despite Ethics Complaint
Rich McCormick fails to address multiple serious issues in amended personal financial disclosure
SUWANEE, GA — After Rich McCormick was hit with an ethics complaint for failing to accurately disclose legally required details of his finances, today he again omitted the crucial information that made his personal financial disclosures incomplete in the first place.
The Atlanta Journal-Constitution reported on September 3rd that Rich McCormick was "in the process of resubmitting a corrected 2019 document" after his campaign admitted to multiple serious errors — yet almost none of them have been corrected in today's filing. Here is what Rich McCormick has still failed to address in his personal financial disclosures:
McCormick reports NO assets in his 2019 personal financial disclosure other than a retirement fund — lending no clues as to how he was able to dump half a million dollars in cash into his own congressional campaign. Congressional candidates are required to report all of their assets, including checking accounts, retirement funds, and individual stocks and bonds. McCormick's amended report still does not list these missing assets, obscuring any possible source for the $500,000 he contributed to his own campaign in 2019.
McCormick failed to disclose any of his wife's assets. All congressional candidates are required to report the assets of their spouse, which McCormick failed to do on his amended report. McCormick's report today could only be true if his wife, who has earned a six-figure salary as an oncologist for years, does not have any assets — including a checking or savings account or retirement funds.
McCormick reported a "tenfold overstatement of his U.S. Navy salary: It’s listed as $1.3 million instead of $130,000." He insisted to the Atlanta Journal-Constitution it was a "clerical error." This "clerical error" is not reported on today's amended filing, but instead deleted altogether.
"Rich McCormick admitted he signed his name to legally required documents that misrepresented his finances," said Bourdeaux campaign manager Shelbi Dantic. "Now, he's still refusing to come clean with Georgians about where the $500,000 he pumped into his own campaign came from. Whether Rich McCormick is hiding his financial dealings or hiding his agenda to end protections for people with pre-existing conditions, he can't be trusted and he shouldn't be in Congress."
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Carolyn Bourdeaux is a Professor at the Andrew Young School of Policy Studies, the daughter of teachers, a wife and mom, and a public servant who is running for Congress to fight for quality, affordable health care, a world-class education and a government that works for the people. She was the 2018 Democratic nominee for Georgia’s 7th Congressional district, coming within 433 votes of flipping the seat, making it the closest U.S. House race nationwide.
Georgia’s fast-changing 7th Congressional District includes portions of the northeast Atlanta metropolitan area, including portions of Forsyth and Gwinnett counties and cities Peachtree Corners, Berkeley Lake, Sugar Hill, Norcross, Cumming, Lawrenceville, Duluth, Snellville, Lilburn, Suwanee, Grayson, and Buford. Highly watched by national media, this district has emerged as one of the top Democratic pick-up opportunities in the country.