Arizona Republican Sen. John McCain in 2012 turned over nearly $9 million in unspent funds from his failed 2008 presidential campaign to a new foundation bearing his name, the McCain Institute for International Leadership.
The institute is intended to serve as a “legacy” for McCain and “is dedicated to advancing human rights, dignity, democracy and freedom.” It is a tax-exempt non-profit foundation with assets valued at $8.1 million and associated with Arizona State University.
Conservative and liberal critics, however, believe the institute constitutes a major conflict of interest for McCain, The Daily Caller News Foundation’s Investigative Group has learned.
McCain, a former Navy pilot who was shot down over North Vietnam in 1967 and was then a prisoner of war in the infamous Hanoi Hilton until 1973, is a major political force in Washington, D.C. He is presently chairman of the Senate Committee on Armed Services.
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