Word: repayment
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...were at least thought about. Legal sleaze, on the other hand, was suspected in some of Mr. Zaccaro's business affairs, in particular when he borrowed money from an estate as its executor. However, any possibility of guilt was neatly cleared away when a court order forced him to repay the money, and when he was removed as executor of the estate. The long-range result, however, was that the campaign stood still for two weeks for a prolonged and ultimately unincriminating scrutiny of the Zaccaro finances...
...volunteer lawyer in her campaign that she could borrow money from her husband and the trust funds of their three children. She chose this course, getting the first of four loans totaling $134,000 from them in May 1978. Once her campaign got rolling, she expected enough donations to repay the loans...
...Commission. She was quickly told by the FEC that using a family loan for her campaign was illegal. Like any prospective contributor, each member of her family could give only $1,000. Ferraro was advised that she would face hefty fines if the violation continued, so she scrambled to repay the loans...
...worth at the time was about $500,000), the banks, she says, would not give her a loan unless her husband co-signed it. The FEC, of course, would not permit Zaccaro to do that, since he was one of the family members she was trying to repay. The only option, she says, was to put some of her property on the block. "We've got to sell fast," she told her husband, alluding to her half-ownership of one building and a half-interest in a mortgage on another. "Get whatever...
...back meant that Zaccaro was indirectly subsidizing his wife's campaign. In effect, she was selling her share of the property to him, with Lerman acting as an intermediary, and then using the proceeds to repay her husband and children. This would not be considered a gift and therefore a violation of election laws unless the value of the property was inflated, exceeding a fair market price at the time she sold her share...