Ted Cruz Didn't Disclose $100,000 Investment Because He Forgot About It

Hey Ted, did you forget to mention something?

TIME has uncovered that Texas Republican Senator and fake-filibusterer extraordinaire Ted Cruz potentially violated ethics rules during his 2012 campaign by failing to disclose a $6,000 investment that resulted in $100,000 profit. 

Cruz maintains he has not had any relationship with the firm, which he helped start with his former college roommate, since he cashed out an initial investment of $6,000 in return for $25,000 cash and a $75,000 promissory note — essentially an IOU — on the holding company.

“In 2011, there was an inadvertent omission of this promissory note, and after a conversation with my college roommate I remembered it,” Cruz told Time. 

Just in case you missed that, Cruz forgot about someone owing him $75,000. 

In what he has legally filed, Cruz lists quite a few hefty assets held by him and his wife (an executive at Goldman Sachs), including mutual funds and blue chip stocks totalling between $1.5 and $4 million.

Despite his overwhelming wealth, Cruz has claimed to be a man of the people since his 2012 primary campaign for Senate against Texas Lt. Gov. David Dewhurst, where he campaigned as a principled lawyer bred from humble beginnings who wanted to grow up to be just like Ronald Reagan.  

A GQ profile of him earlier this moth let us know that he probably forgot about those humble beginnings sometime during college when he decided he couldn't study with any plebes: 

"As a law student at Harvard, he refused to study with anyone who hadn’t been an undergrad at Harvard, Princeton, or Yale. Says Damon Watson, one of Cruz’s law-school roommates: 'He said he didn’t want anybody from ‘minor Ivies’ like Penn or Brown.'" 

But he's just like you!

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Jessica Huseman

Jessica wrote for Mic.com until Feb. 2014. Now she's an investigative reporter at The Teacher Project, writing articles on K12 education for Slate.com. Her work has appeared in ProPublica, The Atlantic, Slate, The Dallas Morning News and Chalkbeat and more. Find her contact info and her recent work at www.jessicalhuseman.com.

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