$400k vanished?

Doug Applegate’s got serious issues.

From the San Diego Union-Tribune: “As Democrat Doug Applegate begins raising money for a second challenge of Republican Rep. Darrell Issa, federal elections officials are questioning his campaign’s financial reporting, and filings show a nearly $400,000 drop in cash-on-hand overnight that the campaign has yet to explain.

“Applegate’s campaign has missed deadlines for five requests for additional information from the Federal Election Commission since July, records show. Election officials’ concerns include mathematical errors, misidentification of contributors, failure to adequately describe expenditures and discrepancies in accounting for loans Applegate made to the campaign.”

How does one lose $400,000 and not know where it went? Something smells fishy…