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Cain still has millions in campaign money

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The Georgia campaign headquarters for U.S. presidential candidate Herman Cain, shown on Thursday evening Dec. 1, 2011 in Atlanta. UPI Photo/David Tulis 
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Published: Dec. 6, 2011 at 3:26 PM

WASHINGTON, Dec. 6 (UPI) -- Herman Cain can return unspent donations to his campaign for the U.S. presidency or give them away to other candidates or charity, an expert says.

Because he "suspended" his campaign instead of ending it, Cain can even continue to raise money, The Washington Times reported. While he cannot simply put the millions of dollars he raised in his own bank account, he can continue to control them by setting up a charitable foundation or a "Super-PAC."

Former House Speaker Newt Gingrich,who has replaced Cain at the top of Republican polls, used a network of foundations and committees to remain a political force after he left Congress.

Sheila Krumholz, executive director of the Center for Responsive Politics, said she does not expect Cain to return the money.

In the most recent filing on Cain's fundraising activity, his campaign reported raising $5 million through September. The next report will not be filed until January, but Cain's staff said he raised millions of dollars more in his brief period as a front-runner.

Cain and his aides traveled in style, flying on private jets to first-class hotels and dining on steak. The campaign also reported paying $100,000 to T.H.E. New Voice, a company that sells Cain's books and recordings.

But Cain spent little on more traditional campaign activity like advertising.

Topics: Herman Cain, Newt Gingrich, Sheila Krumholz
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