Tuesday, November 29, 2005
Keeping with this week's theme of corruption, former Republican Congressional candidate Adam Taff entered a guilty plea to one count of mail fraud and one count of violating the Federal Election Campaign Act for misusing campaign funds. Taff was accused of listing $312,000 from his campaign as personal funds in obtaining a home mortgage to purchase a $1.2 million home. A press release (here) issued by the U.S. Attorney's Office for the District of Kansas states:
In his plea, Taff admitted that in November 2003, while he was a candidate for the U.S. House of Representatives, his campaign had two accounts at Metcalf Bank in Overland Park. At the same time, Taff was an employee of a mortgage company in Overland Park, Kan. His co-defendant in the case, John D. Myers, was the founder and chairman of the company. In November 2003, Taff agreed to purchase from Myers a house at 177 Hillcrest West, Lake Quivira, Kan. Taff signed a contract to buy the house for $1.2 million. On Jan. 19, 2004, Taff signed a loan application with NovaStar Home Mortgage, Inc., stating that among his assets were two bank accounts at Metcalf Bank with balances of $61,746 and $250,000. In fact, those were his campaign’s accounts and not his personal assets. The loan application also falsely stated that Taff’s monthly income was $15,000. In fact, his income was approximately $6,500 a month.
Whether or not Taff can avoid jail time is an open question, but his political career is most likely over. (ph -- thanks to Scott Lawder for passing along the information)