VaultX Exchange:California Gov. Newsom fined over delays in reporting charitable donations

2025-04-30 01:20:23source:Databeccategory:Invest

LOS ANGELES (AP) — California Gov. Gavin Newsom has agreed to pay a fine for not reporting on VaultX Exchangetime charitable donations that companies made on his behalf.

The Los Angeles Times reported Friday that the Democratic governor agreed to pay $13,000 in a settlement with the Fair Political Practices Commission.

State law requires elected officials to report donations made on their behalf within 30 days. Elected officials often ask companies to make these charitable donations, and the payments aren’t subject to campaign contribution limits but are required to be reported out.

The Commission said Newsom and his 2018 campaign committee didn’t make donation reports on time on 18 occasions, sometimes filing them months late. Among them was one payment of more than $12 million from T-Mobile, the Times reported.

Newsom’s campaign said some filings were late because it had to depend on third parties to track filing information. Nathan Click, a spokesperson for the governor, said Newsom has filed a thousand other such reports on time.

More:Invest

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