Industry News

Ex-congressional candidate indicted for real estate fraud

Kansas man allegedly got loan using campaign contributions

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A former congressional candidate from Kansas was indicted Wednesday for allegedly using campaign contributions to fraudulently obtain a loan for a $1.2 million home, the Kansas City Star reported. A federal grand jury charged former Navy fighter pilot Adam Taff with one count of wire fraud and one count of violating the Federal Election Campaign Act for allegedly using campaign funds to secure a mortgage on a Lake Quivira, Kan., home in January 2004, media reports said. The indictment said Taff listed as personal assets nearly $312,000 from two campaign accounts to get the loan for the five-bedroom, 3,650-square-foot house, according to reports. Taff later returned the money, purportedly a down payment on the home, to his campaign, the indictment alleged. "He took campaign funds and used the money for things other than the campaign – that is against the law," Jim Cross, spokesman for the U.S. attorney in Kansas, told the Star. "Second, he provided false information to a lender t...