A candidate for lieutenant governor failed to disclose a financial interest he holds in a Frankfort apartment complex. State Senator Daniel Mongiardo said he is a passive investor in the apartments.
Mongiardo is running on a ticket with former Lieutenant Governor Steve Beshear. State ethics statues require legislators and top state officials to publicly report personal financial information including sources of income, business investments, and real estate in which they have interests of more than $10,000.
To make good, Mongiardo sent a letter to the Kentucky Legislative Ethics Commission on Friday, March 23, 2007, acknowledging owning enough of the apartment complex to require reporting it under state law.
He claims he has received no income from the apartments over the past five or six years. Failing to comply with state regulations could lead to fines or a misdemeanor charge.