The presidential candidacy of Paul inspired the formation of several super-PACs, and some of them invested little in politics while spending large sums on overhead.
Revolution PAC raised more than $1.2 million and spent just $172,000 on independent expenditures to help him. Steering the group’s $1 million in administrative spending was Franchi, Revolution’s founder.
Franchi paid himself $38,000 in management fees and fundraising commissions. The super-PAC gave more than $60,000 to One Touch Media and about $53,000 to Restore the Republic --also owned by Franchi, according to Illinois corporate filings.
Revolution PAC was $63,375 in debt as of the end of September. In August, Washington-based campaign finance attorney Dan Backer took over the group’s FEC paperwork.
Backer said in an interview that Franchi is no longer involved. “Like many grassroots people, Gary was very enthusiastic about the cause but didn’t have the background to run a business or large organization,” Backer said.
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