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Insurers Made Campaign Contributions to Quackenbush Which He Used to Pay Off Personal Campaign DebtsA detailed analysis of the campaign finance records of Insurance Commissioner Chuck Quackenbush and his wife Chris Quackenbush, who made a failed bid for State Senate in 1998, provide further evidence of inappropriate behavior. Commissioner Quackenbush has been under scrutiny because of "Insurancegate," in which he appears to have protected insurance companies from fines in exchange for campaign contributions and donations to non-profits that have benefited Mr. Quackenbush.
During 1999 Commissioner Quackenbush received over $390,000 in campaign contributions from insurance companies, despite the fact that his term runs through 2002. Due to term limits, Commissioner Quackenbush can not run again for Insurance Commissioner. Commissioner Quackenbush has raised over $6.4 million from insurance industry sources since he first ran for office in 1994. At the end of this page is a table 1999 insurance industry sources that contributed to Quackenbush in 1999.
Between November 7, 1998 and November 30, 1999 Chuck Quackenbush transferred $260,000 from his campaign committee to his wife's campaign fund (she lost the race for the Senate on November 3, 1998).
Between May 19, 1998 and December 14, 1999 Chris Quackenbush repaid $254,000 in loans made by herself and the family company, Ski Park Boat & Ski, to her Senate campaign. Additionally, she paid $5,424.65 in interest for the loans. Mrs. Quackenbush paid the family $259,424.65 in total, virtually the same amount transferred to her by her husband, Commissioner Quackenbush. Some of this money was used to pay the mortgage on the Quackenbush home.
Many of the loans received by Chris Quackenbush from sources other than the Quackenbush family were forgiven rather than repaid. She paid no interest on any of these loans. Some of the family loans, however, were interest bearing, at rates of 10% for the personal loan and 11.5% for the business loan.
1999 Insurance industry contributions to Commissioner Quackenbush:
All contributions made to the Chuck Quackenbush Committee (ID 970821) -- 1999
Chuck Quackenbush Committee transfers to the Chris Quackenbush 1998 Senate campaign
Chris Quackenbush uses transferred money to pay off mortgage and loan from Quackenbush business PLUS interest
Total paid to Quackenbush family: $259,424.65.
This is virtually the same amount that was transferred to the campaign by Chuck Quackenbush.
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