AP Photo/Marcio Jose Sanchez, File
- California regulators have launched a probe into Larry Elder’s financial disclosure, per The Los Angeles Times.
- State Democrats filed a complaint, accusing Elder of improperly disclosing financial details.
- Elder is a leading Republican candidate in the September 14 gubernatorial recall election.
- See more stories on Insider’s business page.
California regulators have launched a probe into gubernatorial recall candidate Larry Elder’s financial disclosure, according to The Los Angeles Times.
The Fair Political Practices Commission (FPPC), a nonpartisan commission that enforces the state’s campaign and conflict of interest laws, began the investigation after the California Democratic Party filed a complaint against Elder, accusing the Republican candidate and longtime talk radio host of improperly disclosing some of his financial and business details.
Earlier this month, The Times reported that it appeared as though Elder improperly listed business disclosures regarding Laurence A. Elder & Associates Inc., a company he appeared to own, according to experts.
The Times report noted that in Elder’s Statement of Economic Interests, a public filing that can aid in flagging any possible conflicts of interest, he hadn’t clarified if he owned a part of the company. However, he did disclose that the company was a source of income.
Ying Ma, an Elder campaign spokesperson, told The Times that the discrepancy was quickly addressed.
“We made a simple mistake and we fixed it as soon as possible. These investigations are very common in campaign world,” she said in an emailed statement.
According to the FPPC, neglecting to comply with disclosure requirements carries a penalty of up to $5,000 per violation.
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An Elder spokesperson previously informed The Times that “it appears there might have been an oversight” and amended the filing to reflect that the candidate fully owned the company. Elder also updated the filing to show that his company was worth between $100,000 and $1 million.
Elder, a prominent Black Republican who has long has espoused his deeply conservative views with a national audience, has vaulted to the top of many public polls in the September 14 gubernatorial recall election.
On the ballot, voters will first choose whether to remove first-term Democratic Gov. Gavin Newsom from office, and if that effort is successful, then the replacement candidate with the highest numbers of votes will win the race.
The 2021 recall election will mark the second time in California history that a governor has faced such a vote. In 2003, then-Democratic Gov. Gray Davis was recalled after being reelected to a second term only a year earlier; voters replaced him with Arnold Schwarzenegger.
There are 46 candidates on the ballot for the recall election, with other high-profile GOP candidates that include former San Diego Mayor Kevin Faulconer, 2018 gubernatorial nominee and businessman John Cox, and retired gold-medal Olympian Caitlyn Jenner.
While Elder has been a public figure for years, he has so far declined to debate his fellow Republican candidates, instead focusing his energy on Newsom.
He has also attracted controversy over his past statements about women.
In a 1996 ad for his radio show, Elder said that women “exaggerate the problem of sexism,” and in a 2000 column, he wrote that they “know less than men about political issues, economics, and current events.”
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