FEC Probes Obama’s 2008 Campaign Finances

Barack Obama raised a record-shattering $750 million on his way to winning the 2008 presidential election. But that stunning flood of cash has triggered an investigation by the Federal Election Commission, which is taking a detailed look at the campaign’s records and transactions.

According to Roll Call, the audit of Obama’s financial records began two years ago. It was not required by law, since the Obama campaign did not accept federal matching funds and funded itself entirely with private donations. But allegations of improper contributions, coupled with the FEC’s suspicions of certain transactions, led to the probe.

Obama recently officially launched his 2012 campaign effort, and a representative there admitted to Roll Call that a review was under way.

“The FEC is conducting a routine review — as is true with the McCain campaign, the Romney campaign and many others — to determine if they have any questions with the information reported,” Katie Hogan, deputy press secretary for Obama’s re-election campaign, told Roll Call. “Given that there was an historic number of contributors and contributions — nearly 4 million and over 9 million, respectively — this takes time.”

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