Sen. Crapo says campaign lost $250K on loan

Sen. Crapo says campaign lost $250K on loan

Sen. Mike Crapo

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by Associated Press

KREM.com

Posted on May 10, 2013 at 9:26 AM

BOISE -- Republican U.S. Sen. Mike Crapo's campaign fund lost $250,000 on an investment where it says somebody absconded with the cash.

Crapo made the announcement on Friday.

But he says he learned of the loss in 2010.

According to a statement, Crapo has been trying to figure out how to proceed since then, including through conversations with the FBI and the U.S. Attorney's office.

They say he's unlikely to get the money back.

Crapo says he wasn't asked about nor did he approve the loan, though he has signed off on other, federally-protected loans made in the past by the campaign to help increase money in its coffers.

He says the loan was approved by a top aide without his permission to an Idaho-based limited liability company, Blueberry Guru, LLC.

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