Steele Hid $7M in Debt From FEC: RNC Treasurer
RNC accused of fudging its numbers
By Kevin Spak,  Newser Staff
Posted Jul 21, 2010 12:36 PM CDT
Republican National Committee Chairman Michael Steele speaks to the San Francisco Chamber of Commerce in San Francisco, Thursday, June 24, 2010.   (AP Photo/Jeff Chiu)
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(Newser) – The Republican National Committee’s treasurer has found $7 million in debts the committee didn’t report to the FEC, and has accused Michael Steele of intentionally hiding them. The finding, reported to the FEC yesterday, is likely to bring a big fine down on the committee, which now looks a lot less financially healthy. The RNC has retained a former FEC chairman as counsel, a move both unusual and significant, an expert tells the Washington Times.

In a memo to RNC budget committee members, Treasurer Randy Pullen said he’d noticed the shortfalls when he saw that fundraising was “well short of budgeted numbers,” but that cash-on-hand was rising. He says Steele ordered his staff not to communicate with him, and to limit his access to past-due bills. RNC officials deny that, and say Steele has ordered an internal policy review.
 

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