Secretary of State Candidate Wants to Know: Are the Koch Brothers Talking to Chuck?

Los Angeles, CA…Derek Cressman asked Charles and David Koch today to disclose whether Charles Schwab was attending their secret political fundraising meeting in Indian Wells, California. Schwab was among the largest donors contributing to a dark money group that illegally funnelled $14 million into California elections in 2012 with the help of the Koch brothers’ political network.

“California investors have a right to know if Charles Schwab is using his profits from their investments to support a radical right wing ideology,” said Cressman. “And California voters have a right to know who is funding campaigns to influence our votes,” he added.

While working as a Vice President at Common Cause, Mr. Cressman initiated a successful complaint at the California Fair Political Practices Commission that resulted in the largest fine in California campaign finance history being levied against two organizations that are tied to the Koch network. Documents released after the investigation indicated that Charles Schwab had contributed at least $6.4 million toward the effort to influence two ballot initiative outcomes.

The FPPC also released an e-mail that appeared to come from Charles Schwab to David Koch which said “I have committed an additional $2 million today making my total commitment of $7 million. It would be great if you could support the effort with several million dollars.” The e-mail ended “I look forward to seeing you on a golf course—probably after the election.”


Derek Cressman is available in the Los Angeles area for in-person interviews January 25-27.

A copy of the e-mail to David Koch is posted here
Details of Cressman’s complaint at the FPPC are here