Breaking: Soros-linked ACT PAC smacked with $775,000 fine by the FEC (MORE: FEC STATEMENT ADDED)

The Politico reports that this is “the third-largest enforcement penalty in the commission’s 33-year history.” The reason?

The Federal Election Commission has fined one of the biggest liberal political action committees $775,000 for using unregulated cash to boost Democratic candidates during the 2004 elections.

America Coming Together (ACT) raised $137 million for its get-out-the-vote effort in 17 states in the 2004 elections, but the FEC found most of that cash came through contributions that violated federal limits or were otherwise barred by campaign rules.

The group’s big donors included George Soros and the Service Employees International Union.

Just where are those “ethical, honest” Democrats when you need one?

Update I: Here’s the link to the FEC’s statement on the matter.