Multi-millionaire, Washington Hedge Fund Banker Eric Hovde Continues to Keep Finances a Secret

Washington hedge fund banker Eric Hovde has spent more than $2.7 million on campaign advertising in his Republican primary bid for U.S. Senate, but he has kept his personal finances a secret from Wisconsin voters.

Hovde, a multi-millionaire who has spent the last 24 years living and working in Washington D.C. has refused to release 10 years of his tax returns and has continued to dodge financial disclosure rules for U.S. Senate candidates. Hovde has missed two deadlines and failed to file his personal financial disclosure with the Senate ethics committee on May 15 and June 15th.

"Eric Hovde is a Washington insider who thinks the rules don't apply to them. He talks about cutting taxes for corporations and millionaires like himself, but he refuses to come clean and release his own financial interests," Democratic Party of Wisconsin Chair Mike Tate said Tuesday. "Had Hovde not spent the last 24 years in Washington D.C. he might know that Wisconsin voters deserve more than a candidate who keeps secrets and hides his own finances."

Fifty days ago, U.S. Senate candidate Tammy Baldwin released 10 years of state and federal tax returns and challenged all of the Republican Senate primary hopefuls to follow her lead and do the same. All of the Republican candidates for U.S. Senate have refused to release 10 years of tax returns.

BACKGROUND

HOVDE FAILS TO FILE TAXES ON TIME, REFUSES CHALLENGE TO RELEASE 10 YEARS OF TAX RETURNS

One Month After Tax Day, Hovde Said His Tax Returns Weren’t Ready. In May 2012, the Milwaukee Journal Sentinel reported: “Sean Lansing, a spokesman for Senate candidate Eric Hovde, said in an email that Hovde's tax returns were still being processed. ‘Given all the K-1 forms that need to be filed by corporate entities that roll into Eric's tax returns, the process is typically completed by midsummer,’ Lansing said. ‘However, Eric is working to expedite the process this year so that his tax returns can be made available on a timely basis.’” [Milwaukee Journal Sentinel, 5/15/2012]

HOVDE FAILS TO FILE FINACIAL DISCLOSURE, CAMPAIGN SAYS IT WILL BE FILED AT END OF MAY

May 15: Hovde Campaign Received 30-Day Extension, Said Hovde’s Financial Disclosure Would Be Available By The End Of May. In May 2012, the Milwaukee Journal Sentinel reported: “Lansing said Hovde planned to file his financial disclosure form by the end of May.” [Milwaukee Journal Sentinel, 5/15/2012]

HOVDE FAILS TO FILE FINANCIAL DISCLOSURE AT END OF MAY, AND AGAIN ON JUNE 15

June 15: Hovde Campaign Received A Second 30-Day Extension To Delay Filing A Financial Disclosure.According to the Milwaukee Journal Sentinel on June 15, 2012, “A spokesman for the Eric Hovde for U.S. Senate campaign says the Senate Ethics Committee has given Hovde another 30-day extension to file his financial disclosure form. Candidates are required to file such a form.” The original deadline for Hovde to file his financial disclosure was May 15, 2012. [Milwaukee Journal Sentinel, 6/15/2012]