Lyin’ Ted Update: Texas Senator and Attorney Who Claimed Amnesia About the Law fined $35,000 and Most Likely Will be Paid for by Goldman Sachs

Federal elections officials have fined Ted Cruz’s Senate campaign $35,000 for failing to report more than $1 million in bank loans he used to finance his successful long-shot race in Texas in 2012.

The penalty was part of a settlement reached by the Federal Election Commission and Mr. Cruz’s Senate campaign in February and disclosed in a letter this week from the commission to the Campaign Legal Center, a watchdog group that had filed a complaint over the unreported loans.

The fine comes more than three years after the loans were revealed by The New York Times in January 2016 and became a political issue for Mr. Cruz during the Republican presidential primary.

The Times article showed how Mr. Cruz claimed to have liquidated his family’s wealth and put it into his 2012 campaign, when in fact he had borrowed money from Goldman Sachs and Citibank without disclosing it on campaign filings.