PERTH AMBOY — When Frank Salado changed his voter registration from his Roosevelt Avenue home in Carteret to a rented apartment in Perth Amboy with the hope of running for mayor, he probably never considered that his actions would open himself and his business to an IRS audit.
By apparently violating state election finance laws, Salado’s cash transactions have drawn attention from the federal tax agency.
Statements filed by Salado’s treasurer indicate that he loaned himself funds to wage a campaign but those fast money moves appear to have been made with cash in amounts far greater than permitted, instead of by check.
Salado’s campaign reports also indicate that he accepted at least one cash donation of $2,000, which is ten times the legal limit on currency contributions.
Polling shows almost no public support for Salado despite a rush of spending, a team of Newark-based political advisors, and significant disenchantment among Perth Amboy voters.
Federal investigators and officials at the state Election Law Enforcement Commission both declined to confirm or deny that Salado is the target of any inquiry, citing standard law enforcement policies, but independent sources assert that illegalities have been reported and complaints are pending.
Salado did not comment on the allegations but a campaign spokesperson said the Carteret businessman has no intention of getting out of the race.