Morgan Asked By State For More Campaign Fund Information

A state elections official says former House Speaker Richard Morgan has been asked to provide more information about loans made to his campaigns and the higher-than-average interest rate he charged.

Campaign finance reports indicate that Morgan received $465,000 from his campaign to repay loans and most funds came after he left office this year. However, the practice wasn't illegal at the time.

The News and Observer of Raleigh also reports that the campaign reports show that Morgan charged his campaign between 8 percent and 9.5 percent interest.

Morgan told The Associated Press today that everything he did was legal.

The director of the State Board of Elections says that office has contacted Morgan.


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