EXCLUSIVE: A Federal Elections Commission complaint has been filed against former New York City mayor and 2020 presidential hopeful Mike Bloomberg for an $18 million transfer from his defunct campaign to the Democratic National Committee.

At the core of the complaint is the tenuous distinction between Bloomberg’s personal finances and those of his presidential campaign. The complaint is unique because of the nature of Bloomberg's self-funded campaign. He took no outside donations and maintained complete control over the campaign's finances, and the complaint argues this weakens the legal distinctions normally found between campaign cash and a candidate's personal wealth.

Bloomberg’s ill-fated foray into the 2020 presidential race saw him spend more than $900 million of his own money, according to FEC filings. After he suspended his campaign and endorsed Joe Biden, Bloomberg announced he’d be transferring $18 million to the DNC and the campaign’s field offices to state Democratic parties. The complaint alleges that both far exceed FEC limits on campaign contributions.