Politics
Oklahoma governor candidate’s campaign financing draws requests for agency scrutiny
Republican Mike Mazzei says he has put $11 million into his campaign, but Democratic Rep. Jared Deck is asking three agencies to examine how the money was borrowed and reported. Mazzei’s campaign says no investigation is underway and rejects Deck’s claims.
Oklahoma Republican gubernatorial candidate Mike Mazzei has reported putting $11 million into his campaign, a sum that made up 88% of its fundraising as of the latest September filing. State Rep. Jared Deck, a Democrat from Norman, has asked federal and state agencies to examine whether the money was properly characterized and disclosed.
Deck sent letters to the Federal Deposit Insurance Corporation, the Oklahoma Ethics Commission and the Oklahoma State Banking Department seeking scrutiny of the financing. The letters are requests for review; Mazzei’s spokesperson said there is no FDIC review or Ethics Commission investigation underway.
Deck alleges that Mazzei obtained a zero-interest personal bank loan and then transferred the funds to his campaign, pledging all his shares in his company, Trinity Strategic Wealth, as collateral. Deck questions whether the campaign could report the funds as Mazzei’s own loan if a bank provided the financing. Those allegations have not been established in the information made public.
“I have no problem with someone betting on themselves, risking their own money to take a chance and run for office,” Deck said. He added that when a bank underwrites the funds, the financing should be reported accordingly. Deck also said he is concerned Mazzei could repay the loan after the election with contributions to his campaign committee.
Mazzei has described the spending as an investment in Oklahomans. Asked about putting $11 million into a race for a job with a salary of about $200,000, he said he and his wife have long invested in helping others, and argued that campaign spending could help address problems facing residents. He also said the economic benefits of the policies he hopes to pursue could extend to future generations.
A spokesperson for Mazzei accused Democrats of raising the issue because they expect to lose the governor’s race. The spokesperson said Mazzei makes no apologies for backing proposals to eliminate the state income tax, abolish property taxes for seniors and veterans, and make Oklahoma more affordable and prosperous.
Democratic nominee Cyndi Munson criticized the scale of Mazzei’s personal campaign spending, saying most Oklahomans could not put $11 million into a campaign and calling it a sign of disconnect from working residents.
The dispute raises questions about the source and reporting of a major share of a leading candidate’s campaign financing. The records cited in the campaign coverage show the $11 million figure as of Sept. 18; agency action or findings on Deck’s requests had not been reported as of Oct. 20, 2026.