Guv running out of time to pay off campaign debt

Posted 12/05/2008 01:49:00 PM

Gov. Bill Richardson’s failed presidential campaign still owes a great deal of money to Harry Teague and Johnny Cope for use of their corporate jet, and his appointment as commerce secretary means he’s running out of time to pay it off, The Politico is reporting.

According to his latest report to the Federal Election Commission, Richardson still owes $139,000 to a corporation owned by Teague and Cope, Lea King, LLC. He used their jet during much of his presidential campaign. He also owes $11,000 to Albuquerque’s Branch Law Firm for use of its jet, the article states.

That’s been known publicly for awhile. And, yes, we’re talking about the Teague who was just elected to Congress, and his business partner Cope, a well-connected politico who chairs the state Transportation Commission. Though Richardson paid back $50,000 of his campaign’s debt in October, according to The Politico, “he’s running out of time to get square, because federal ethics laws would make it tough for him to fundraise for himself if he’s confirmed as a member of President-elect Barack Obama’s Cabinet.”

Obama nominated Richardson to be commerce secretary this week.

Richardson, according to the article, “is statutorily obligated to repay them for the trips, lest they be considered illegal, over-the-limit corporate contributions.”

Aides to Obama and Richardson did not return telephone and e-mail messages for comment, The Politico’s article states.