By CBSLA Staff

PASADENA (CBSLA) – State officials have launched an investigation into gubernatorial candidate Larry Elder’s finances.

Analysts are saying that there are two ways the investigation announcement will be seen. On one hand, supporters of Governor Gavin Newsom will likely feel that this is another reason that Elder is a not a suitable candidate, while others will think it’s an attempt to stir up doubt around his fitness for the office as he gains ground in the race.

READ MORE: Man In Critical Condition After Being Stabbed In Lancaster

Just last week, Elder’s ex-fiancee came forward with claims that he had previously emotionally and physically abused her. Elder denied those allegations.

The focus of this investigation, revealed today, is about whether Elder failed to properly disclose his income sources. Though some suggest it’s an obscure reason to open an investigation, its importance, say others, is that financial disclosures help to reveal whether candidates have any conflicts of interest.

Two political experts that spoke with CBSLA agreed that most of the time scandals rarely have much of an impact on voters and certainly not along partisan lines.

“The same people who are excited to turnout for this election are the people who are most likely to be least critical of this income scandal,” Dr. Chaya Crowder, a professor of political science at Loyola Marymount University, Los Angeles, said. “As much as we might think these income scandals matter, often times they don’t.”

Assistant professor of political science at the University of Southern California Jennifer Cryer agrees.

READ MORE: Man Shot to Death In Los Angeles

“The type of scandal matters more and the scandal would have to evoke something about that person’s moral standing and their honor. Those are the scandals that research shows that have a big impact and those tend to be about affairs, dishonesty etcetera, not obscure legal ramifications,” Cryer said.

The state investigation comes after the LA Times Reported Elder might have misreported his income and his ownership of a company called Laurence A. Elder and Associations.

Then, the California Democratic Party Filed a complaint saying Elder needed to come clean about, among other things, his radio sponsorship deals, whether he’s been delinquent on taxes, as well as if former President Donald Trump ever compensated him.

Elder’s campaign sent CBSLA a statement denying the implication of anything improper, saying, “Our campaign was made aware of a simple mistake in our candidate filing and we corrected it as soon as possible. These amendments are quite common in campaign world.”

If Elder is found in violation, every penalty would carry a fine of $5,000.

MORE NEWS: One Dead In 210 Freeway Collision

Elder’s campaign has not yet responded to a request for comment.