Buffalo, New York – Democratic State Senate Candidate Amber Small’s campaign announced today that it has filed a complaint with the Board of Elections and Erie County District Attorney’s Public Integrity Unit for contributions from Billionaire NYC Hedge Fund manager Daniel Loeb to the Chris Jacobs campaign which exceed the maximum contribution limits.
“This is just another demonstration of the Jacobs campaign again flaunting campaign finance laws,” Small said. “There is a clear pattern here of blatant disregard for a system that is meant to keep those who run for office accountable to the public and not to those who line their war chests with cash.”
The complaint, a copy of which is attached hereto, relates to an $18,000 contribution (check #006735) from Daniel Loeb made on September 21, 2016. The contribution was made after the primary, on Chris Jacobs’s 32-day pre-general election disclosure with the New York State Board of Elections. New York campaign finance laws limits contributions to $7,000 for the primary and $11,000 for the general election. By accepting an $18,000 contribution well after the primary, Jacobs has violated state campaign finance laws.
This comes as the Buffalo News has profiled the extent to which Super PACs are trying to influence the senate race in the 60th district. One such Super PAC, New Yorkers for a Balanced Albany, the largest Super PAC operating this year in New York, received $1,000,000 contribution from Mr. Loeb who is a hedge fund manager for Third Point.
“Since his days on the Buffalo Public School Board, Jacobs has acted as though he is above the law. And the last thing we need in Albany is another State Senator who thinks the rules don’t apply to him” added Small.
The Small campaign outlined Jacobs’s pattern of behavior, including a WKBW Channel 7 report on Friday September 21st that Jacobs has recently had a complaint filed against him with the FEC for conspiring with his girlfriend to circumvent federal campaign contribution limits for Jeb Bush in the 2015 republican presidential primary.
In the 2011 race for Erie County Clerk, Jacobs was strongly criticized by his opponent Maria Whyte for filing late campaign finance disclosures.
In 2009 Jacobs faced a lawsuit in State Supreme Court for failing to disclose $52,000 in contributions for his race for School Board. Jacobs was ultimately ordered by a judge to disclose the contributions.
To view a video of Small denouncing Jacobs' violation of campaign finance laws, click here.
To view the complaint filed, click here.
For more information about Amber Small and her campaign for Senate, please visitwww.smallforsenate.com.
 Loeb, the NYC billionaire hedge fund manager, has a controversial career. His hedge fund bet heavily on the 2012 Greece debt crisis, poured millions into an effort to reform teacher pension plans while simultaneously investing many of those same pension funds, regularly shorts American companies, is invested in large coal producers, pharmaceutical companies and off-shore investment funds, and heavily opposes ending the carried interest tax break. Recently, his hedge fund Third Point agreed to settle a fair trade commission charge for violations relating to an investment made in Yahoo! The company has also faced investigation from the Securities and Exchange Commission.
Small serves as the Executive Director of the Parkside Community Association. In this role she is an advocate for 2,500 residents, working to enhance their quality of life through crime prevention, traffic calming, fair housing advocacy and more. Amber also serves on the Board of Directors for B-Team Buffalo and proudly serves as Vice Chair of WEPAC, a nonpartisan group focused on increasing female involvement in politics and government. Amber is a graduate of the University at Buffalo, and resides in North Buffalo’s Parkside neighborhood with her family. New York's Sixtieth Senate District is located wholly in Erie County and includes the communities of Tonawanda, City of Tonawanda, Kenmore, Grand Island, Hamburg, Orchard Park, Evans, Brant, and the City of Buffalo. Small is endorsed by the Democratic Party, the Working Families Party and the Women’s Equality Party.