Giannoulias camp says he won't keep refund

Alexi Giannoulias's Senate campaign is fighting back hard against the implication that his family will walk away with millions if its bank collapses, promising that Giannoulias will use the money to try to save the bank.

Crain's Chicago Business reported this week that the Democrat and his family could reap tax refunds of $12-15 million, even if Broadway Bank goes under.

Giannoulias's campaign just put out a "fact check" stressing that the refunds are being sought in order to help save the bank, and that any refund corresponding to the candidate's 3.6 percent share of the bank will be used for that purpose.

"Like the millions of Americans who overpay their income taxes each year, the family is owed tax refunds," his campaign said. "They are actively pursuing a refund of this money as a way to help save the bank. They would not profit in any way if the bank fails."

The campaign said the Giannouliases will "bear the full brunt" of any losses.

"The idea that the Giannoulias family will benefit in any way if the bank fails is absolutely false," it said.