New ad campaign blames Budd for farm business failure

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Screenshot of Cheri Beasley’s campaign ad

Democratic U.S. Senate candidate Cheri Beasley on Wednesday launched a pointed attack on Republican Representative Ted Budd for his alleged role in the bankruptcy of her family’s farming business.

Details: The latest ad draws attention to last year’s Washington Post report, which found that Budd’s father, Richard Budd, allegedly transferred millions in assets to his family, including Budd, before a court judgment. $15 million in the deal, WaPo reported.

  • Farmers and creditors ultimately received less than half of their lost revenue in a settlement, in which there was no admission of wrongdoing.

The other side: Budd’s senior adviser, Jonathan Felts, told The Washington Post last year that Budd had no role in the company that filed for bankruptcy, AgriBioTech.

  • Budd’s father, Richard, also defended his son, telling WaPo, “I wish my personal efforts to save ABT had been successful, but they weren’t.”

Between the lines: The ad says Beasley’s campaign is seeking to derail Budd’s attempts to appeal to the state’s agriculture-dominated rural areas.

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