An advocacy group on Friday filed a Federal Election Commission (FEC) complaint alleging that Walmart heir Jim Walton violated campaign finance laws by contributing more than the individual legal maximum to candidates during the 2008 election cycle. Walton is the seventh-wealthiest person in America, according to Forbes.
The complaint was filed by Our Walmart, a group affiliated with the United Food and Commercial Workers Union. Our Walmart discovered the evidence while reviewing Walton's 2012 political donations, according to a spokesman for the group Making Change at Walmart, which is also affiliated with the United Food and Commercial Workers Union.
Walton is chairman and CEO of the Arkansas-based Arvest Bank Group, Inc., which owns 16 locally managed banks with various branches in communities throughout the Midwest. Walton does not work directly for Walmart, but as the youngest son of Walmart founder Sam Walton, he is an heir to one of the country's greatest retail fortunes and has a net worth estimated at $26.8 billion, according to Forbes.
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