Newt Gingrich’s Personal Financial Disclosure Form Confirms Tiffany’s Account is Closed

By Eliza

Jul 25, 2011 2:48pm

ABC News’ Arlette Saenz (@arlettesaenz) reports:

Newt Gingrich’s personal financial disclosure form obtained today confirms the presidential candidate has closed his $1 million credit line with Tiffany and Co.

As first reported in June, the Gingrich couple held a second line of credit ranging between $500,000 and $1 million with the high end jewelry company since 2010.  Reports of the couple’s first line of credit with Tiffany and Co. emerged May 17, just six days after announcing his candidacy.  The first line of credit existed in 2005 and 2006 and ranged between $250,000 and $500,000.

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.”

The personal financial disclosure, which details assets and income since January 2010, values the couple’s assets from Gingrich Productions to be between $500,001 and $1 million.  They also list a promissory note from the Gingrich Group, LLC to Gingrich Productions for the value ranging from $5 million to $25 million.

Earlier this month, the Gingrich camp revealed it was over a million dollars in debt, with nearly half of the debt owed to a company that chartered private planes for the campaign’s travel.

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