tea party patriots citizens fund

Bank Loan to Super PAC Backed by CD of an Anonymous Person (updated)

The Clarion-Ledger reported  this afternoon that the treasurer of the Mississippi Conservatives, a super PAC supporting Sen. Thad Cochran, R-Miss., stated the $250,150 loan it obtained from Trustmark was backed by a certificate of deposit owned by a person he would not name.  

The Clairon Ledger also reported  the Tea Party Patriots Citizens Fund had filed a complaint with the Federal Election Commission alleging the loan to the Super PAC was illegal. Cleta Mitchell of the Foley & Lardner law firm wrote the complaint.  

Super PACs Have $63 Million Ready To Spend
Tea Party Groups Get Almost $8 Million in Contributions

Two national tea party organizations have reported receiving a combined total of almost $8 million in contributions during the last six months of 2013.  

Tea Party Patriots Citizens Fund,  a super PAC, reported  to the Federal Election Commission they had receipts of $4,338,272 and disbursements of $3,897,291 during the last six months of 2013, leaving $1,069,925 cash on hand at the end of the year. The PAC raised $2,988,761 from donors giving $200 or less. Texas and California provided the most money from itemized donors.