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Newt Gingrich had second line of credit at Tiffany and Co.

at 07:18 PM ET, 06/21/2011


Former House Speaker Newt Gingrich’s presidential campaign has stumbled badly out of the starting gate. (Photo by Justin Sullivan/Getty Images)
Former House speaker Newt Gingrich had a second line of credit at the high-end jewelry store Tiffany and Co. for as much as $1 million dollars, his presidential campaign acknowledged Tuesday.

Joe DeSantis, a spokesman for Gingrich, said that the candidate’s personal financial disclosure filing, which is due within 30 days of his formal entrance into the presidential race, will “show that the Gingriches had a $500,000 to $1 million line of credit at Tiffany’s, that it has a zero balance, and it has been closed.”

DeSantis added that all debts to Tiffany had been paid in full. He offered no details about when the second line of credit was taken out, what it was used for or when it was closed.

This revelation comes roughly a month after personal financial disclosure forms for Gingrich’s wife, Callista, showed that the family had carried a line of credit ranging between $250,000 and $500,000 at Tiffany’s during 2005 and 2006.

Gingrich’s campaign has struggled since its inception. After formally entering the race on May 12, he weathered widespread staff departures earlier this month amid allegations that the campaign was running low on cash even as the candidate insisted on taking chartered planes to and from events.

Earlier on Tuesday, two of Gingrich’s top fundraisers quit the campaign.

 
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