The National Republican Congressional Committee overstated by $740,000 its cash on hand as of Jan. 31 due to fraud allegedly committed by a former employee, an NRCC document obtained by Roll Call reveals.
An ongoing investigation into accounting irregularities at the NRCC has determined that ex-committee Treasurer Christopher J. Ward allegedly funnelled "several hundred thousand dollars" from the NRCC into his own bank accounts since at least 2004. The probe has also found that Ward submitted to the NRCC's bank and to House GOP leadership "bogus" audit reports for years 2002-2005, with an additional "bogus" audit report provided to the NRCC's bank for 2006. [...]
The NRCC originally reported $6.4 million on hand as of Jan. 31. That figure should have been about $5.7 million.
This isn't exactly the kind of news that the cash-starved NRCC wants to hear these days.