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Proft shuts down both of his campaign committees

Friday, Jan 17, 2020

* Dan Proft has shut down his two campaign committees, Liberty Principles PAC and Proft for Governor. He hasn’t raised money lately, so this wasn’t unexpected.

Liberty Principles PAC raised over $25 million since 2012. Much of that money came from the super-wealthy Richard Uihlein, but Uihlein stopped contributing a while ago. Proft ran for governor in 2010, losing the GOP primary, but he kept his PAC open and ended up raising almost $1.3 million.

Proft didn’t win a large number of contests, but he did help create what we now know as the Eastern Bloc. And the millions he spent on GOP primary races unnerved lots of Republican incumbents in this state, particularly in the House. It’s one reason so many House Republicans who voted to override Gov. Bruce Rauner’s veto of the tax hike chose not to stand for reelection the following year.

I reached out to Proft to ask if he plans to open any new campaign accounts. I’ll let you know what he says, but last month he signed on to do a nightly show for the Salem Radio Network, which serves 2,000 radio stations across the country. He replaced Joe Walsh, who is running for president… sorta.

* Proft went out with a twist. Liberty Principles PAC filed what turned out to be its final quarterly report this week showing it with a balance of $0. It reported an in-kind $1,007 contribution for “legal expenses” from the Illinois Opportunity Project and an odd expenditure of $38,847.89 for “Corrective Accounting/Journal Entry.”

Proft’s personal campaign committee also filed its final quarterly report this week showing a $0 balance, a $412.50 payment for legal fees and $3,353.11 listed under “Other Receipts” for “Corrective/Journal Entry.”

* This paper filing was dated January 13

Dear Sir or Madam,

Our firm represents Liberty Principles PAC, Committee ID Number 24614, in connection with the above-referenced matters. Please be advised as follows:

The Committee’s Quarterly D-2 report filed electronically on January 13, 2020 for the quarter ending December 31, 2019 is the committee’s final report. This report contains a corrective accounting journal expenditure entry in the amount of $38,847.89 to account for the difference in available balance that would have otherwise shown on the committee’s D-2 Quarterly report and actual $0.00 cash balance in Committee’s bank accounts at end of quarter. The Committee is unable to account for the difference in the reported available balance and the actual cash balance even after an exhaustive internal audit through the end of 2018 that resulted in the committee’s filing of Amended D-2 Quarterly Reports from 2016Q1 to 2018Q3.

Please accept this 2019Q4 D-2 Quarterly Report as the committee’s final report. Do not hesitate to contact me should you have any questions, concerns, or require any further action relating to these issues.

* As was this one

Our firm represents Proft for Governor, Committee ID Number 22072, in connection with the above-referenced matters. Please be advised as follows:

The Committee’s Quarterly D-2 report filed electronically on January 13, 2020 for the quarter ending December 31, 2019 is the committee’s final report, This report contains a corrective accounting/journal receipt in the amount of $3,353.11 to account for the difference in negative balance that would have otherwise shown on the committee’s D-2 Quarterly report and actual $0.00 cash balance in Committe&s bank accounts at end of quarter. The Committee is unable to account for the difference in the reported available balance and the actual cash balance even after a review of its available banking records. The $3,353.11 reported as a ‘4Corrective/Journal Entry” other receipt on December 31, 2019 is not an actual contribution nor receipt of anything else of value.

Please accept this 2019Q4 D-2 Quarterly Report as the committee’s final report. Do not hesitate to contact inc should you have any questions, concerns, or require any flrther action relating to these issues.

…Adding… The irony of the missing money is pretty rich when you consider this history

The Feb. 7-13 edition of the weekly McHenry Times devoted much of its ink to Mautino, a Spring Valley Democrat who became the state’s auditor general Jan. 1. Its lead story was titled, “Scandal brewing over Illinois auditor general’s dubious campaign expenditures.”

The Liberty Principles PAC hired a company, Chicago-based Newsinator LLC, to produce the products. The PAC paid Newsinator $85,000 in February, according to a report filed with the state Board of Elections.

Andrew McKenna, chairman of the Illinois Republican Party from 2005 to 2009, is listed as the agent for Newsinator, according to the secretary of state’s business database.

- Posted by Rich Miller        

25 Comments
  1. - Perrid - Friday, Jan 17, 20 @ 1:39 pm:

    If a Dem had “lost” $42,000 in campaign funds Proft is the type of guy who would be yelling it from the mountain tops.


  2. - Chicago Cynic - Friday, Jan 17, 20 @ 1:40 pm:

    So Mr. Government Accountability can’t account for more than $40k? Wonder what Dan Proft would say about that….


  3. - Flat Bed Ford - Friday, Jan 17, 20 @ 1:41 pm:

    Waiting for Ives to demand an investigation into Proft and his shoddy accounting.


  4. - Left of the Lake - Friday, Jan 17, 20 @ 1:44 pm:

    Sounds like face speak for “Lost my receipts”


  5. - Smalls - Friday, Jan 17, 20 @ 1:45 pm:

    OK, this is really pretty easy. You compare bank statements, and the money coming in and out, against the quarterly reports. And figure out what is on the bank statements and not on the quarterly reports. So there has to be more to this, and they were hoping this would go unnoticed.


  6. - Oswego Willy - Friday, Jan 17, 20 @ 1:47 pm:

    “Losing $38-40K“ was a Proft paper story staple.

    Proft playing himself?


  7. - North Cook News - Friday, Jan 17, 20 @ 1:47 pm:

    Headline

    Dan Proft Can’t Account for $40k …Madigan’s Fault!


  8. - 47th Ward - Friday, Jan 17, 20 @ 1:56 pm:

    You’d think he could have gotten a lawyer to bill him for $40K in legal fees, then just take the missing cash and claim it was a legit legal expenditure.


  9. - Misappropriation - Friday, Jan 17, 20 @ 2:01 pm:

    Let’s see if the FBI looks into this matter.


  10. - Oswego Willy - Friday, Jan 17, 20 @ 2:01 pm:

    @FakeGrantWehrli - I see @DanProft has $38K or so in an odd expense. I won’t stand for it. I am requesting Auditor Mautino resigns. #OneTrickPony


  11. - Randolph House - Friday, Jan 17, 20 @ 2:12 pm:

    Finally. No more Republicans left for the “Republican” Dan Proft to attack? Proft has been ineffective. He’s a salesman who was able to sell himself to one or two people with deep pockets. He did way more damage to R candidates than he ever did to D candidates.


  12. - Skeptic - Friday, Jan 17, 20 @ 2:13 pm:

    $38k is about what Susana Mendoza spent on a used van. Just sayin’.


  13. - 47th Ward - Friday, Jan 17, 20 @ 2:15 pm:

    Maybe he responded to Jeanne Ives’ fund raising mailer soliciting $40,000 donations (in violation of federal limits).


  14. - 19th ward guy - Friday, Jan 17, 20 @ 2:15 pm:

    So. $25 mil and didn’t flip one seat. In other words zero for $25 million. Made himself wealthy and never won a race. And now he’s Joe Walsh’s understudy. Quite a legacy.


  15. - Precinct Captain - Friday, Jan 17, 20 @ 2:19 pm:

    Proft: “Next up, calling from Chicago is John Lausch.”


  16. - Ok - Friday, Jan 17, 20 @ 2:25 pm:

    That’s some scratch.


  17. - Ice Scream - Friday, Jan 17, 20 @ 2:26 pm:

    All you have to do is a 990 search to see the unbelievable compensation/consulting rates that are being paid to the folks at Illinois Opportunity Project.


  18. - Hard D - Friday, Jan 17, 20 @ 2:27 pm:

    There’s a Mayor in Orland Park that can’t be to happy with this news. He’s been pounding his chest on how Proft is giving him another 250,000 like he did 3 years ago. Well Mayor chances are your field of opponents just grew threefold


  19. - Cold of Winter - Friday, Jan 17, 20 @ 2:56 pm:

    I have two terrifying words to suggest: forensic audit


  20. - Boone's is Back - Friday, Jan 17, 20 @ 3:01 pm:

    To quote Tony Peraica’s twitter …”Where is the outrage?”


  21. - Oswego Willy - Friday, Jan 17, 20 @ 4:07 pm:

    To the Post,

    Proft did what he did, helping the implosion of the ILGOP.

    Lest we forget?

    Proft and Matt Besler were Rauner’s “guys” for about… 47 minutes… during the IPI fiasco.

    Like Bruce and Diana Rauner too, once the party crumbled, Proft will take the money he made and leave. Proft was central in destroying the party, and now will talk on the radio trying to divide the nation over the airwaves.

    When the ILGOP is ready to eradicate the Raunerites actually leading the party, let’s build. I’d like that.

    Proft did all his damage. There’s no more to do.


  22. - Payback - Friday, Jan 17, 20 @ 4:08 pm:

    Does this mean that he is preparing for a jump from Chicago radio to a different locale? Opinions?


  23. - A 400 lbs. Guy on a bed - Friday, Jan 17, 20 @ 4:14 pm:

    Waiting for the outrage from the S-JR.


  24. - Morty - Friday, Jan 17, 20 @ 4:14 pm:

    It’s probably too much to hope that this means Dan will be liquidating his Chicago assets and doing an Illinois Exodus.


  25. - Henry Francis - Friday, Jan 17, 20 @ 4:26 pm:

    == All you have to do is a 990 search to see the unbelievable compensation/consulting rates that are being paid to the folks at Illinois Opportunity Project.==

    It’s 2018 990 shows Besler as the only one drawing a salary. At $346,524.

    But then the highest paid independent contractor is an LLC by the name of Upstream Ideas LLC. It was paid $364,100.

    SOS records lists Besler as the registered agent for Upstream Ideas.

    It looks like Matt forgot to file his annual report for his LLC as it was involuntarily dissolved in January of 2019.


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