Newt Gingrich Had Second Line of Credit at Tiffany’s

By Dschabner

Jun 21, 2011 8:22pm

ABC News’ Arlette Saenz (@arlette saenz) reports:

Newt Gingrich's presidential campaign acknowledged today that Gingrich had a second line of credit at high-end jewelry store Tiffany's for as much as $1 million.

As first reported by the Washington Post, Joe DeSantis, spokesman for the Gingrich campaign, said Gingrich's personal financial disclosure filing due 30 days after his declared candidacy will reveal “the Gingriches had a $500,000 to $1 million line of credit at Tiffany's, that it has zero balance, and it has been closed.”

DeSantis said all debts to Tiffany's had been paid and offered no information regarding when the line of credit was obtained, when it was closed, or what it was used to purchase.

Sources told ABC News the Gingrich campaign was worried about what the next filing would reveal.  The Gingrich campaign asked for a 45 day extension on the personal financial disclosure filing from the FEC which lasts until July 25.  The filing will encompass personal financial disclosures since January 2010.

Reports of Gingrich's first line of credit with Tiffany's emerged on May 17, six days after Gingrich announced his candidacy via Twitter.

Gingrich defended the Tiffany's account he and his wife held on CBS' "Face the Nation" on May 22, saying they are “very frugal.”

“Well, go talk to Tiffany's. All I'm telling you is we are very frugal. We, in fact, live within our budget. We owe nothing,” Gingrich said. “I'm a guy running for president who pays out of his bills in after-tax income at no cost to the taxpayer and who currently owes nothing except one rental property in Wisconsin. I am debt free.”

On Monday, two top fundraisers for the Gingrich campaign finance team resigned.

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