{"id":197065,"date":"2021-03-07T17:15:00","date_gmt":"2021-03-07T22:15:00","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=197065"},"modified":"2021-03-07T17:15:03","modified_gmt":"2021-03-07T22:15:03","slug":"democrat-congressman-allegedly-failed-to-disclose-stock-trades-during-pandemic-extremely-concerning","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/democrat-congressman-allegedly-failed-to-disclose-stock-trades-during-pandemic-extremely-concerning\/","title":{"rendered":"Democrat Congressman Allegedly Failed To Disclose Stock Trades During Pandemic: \u2018Extremely Concerning\u2019"},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"float:left\"><div class=\"counts mashsbcount\">24<\/div><span class=\"mashsb-sharetext\">SHARES<\/span><\/div><div class=\"mashsb-buttons\"><a class=\"mashicon-facebook mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https%3A%2F%2Fwww.conservativenewsdaily.net%2Fbreaking-news%2Fdemocrat-congressman-allegedly-failed-to-disclose-stock-trades-during-pandemic-extremely-concerning%2F\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Facebook<\/span><\/a><a class=\"mashicon-twitter mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/twitter.com\/intent\/tweet?text=&amp;url=https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=197065&amp;via=ConservNewsDly\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Twitter<\/span><\/a><a class=\"mashicon-subscribe mash-medium mash-nomargin mashsb-noshadow\" href=\"#\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Subscribe<\/span><\/a><div class=\"onoffswitch2 mash-medium mashsb-noshadow\" style=\"display:none\"><\/div><\/div>\n            <\/div>\n                <div style=\"clear:both\"><\/div><\/aside>\n            <!-- Share buttons by mashshare.net - Version: 4.0.47--><div><img decoding=\"async\" src=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-content\/uploads\/2021\/03\/tom-malinowski-1200x800-1.jpg\" class=\"ff-og-image-inserted\" \/><\/div>\n<p>Rep. Tom Malinowski (D-NJ) is facing heat following a report released late last week that alleges that he failed to disclose at least $671,000 in stock trades, which would be a violation of federal law.<\/p>\n<p>\u201cMalinowski\u2019s stock trades in 2020 included more than two-dozen purchases and sales during the first several weeks of the COVID-19 pandemic, according to a five-page spreadsheet Malinowski\u2019s office provided Insider on Wednesday after a reporter asked about his stock activity,\u201d Business Insider <a href=\"https:\/\/www.businessinsider.com\/tom-malinowski-stock-trades-congress-transparency-new-jersey-2021-3\">reported<\/a>. \u201cThe spreadsheet contains stock trade information that does not appear publicly on the US House\u2019s website, as required by law.\u201d<\/p>\n<p>The report said that Malinowski\u2019s stock trading activity was the highest during March, which was the first month that the pandemic upended life in the U.S. The report said that Malinowski made between $671,000 and $2.76 million worth of trades last year, according to the spreadsheet that Malinowski\u2019s staff provided to Business Insider.<\/p>\n<p>Malinowski\u2019s staff said that the apparent failure to file the disclosures was \u201can oversight\u201d that Malinowski was \u201ctaking steps to correct\u201d and was not \u201can effort on the part of the congressman to conceal any trade activities.\u201d His staff also claimed that he has \u201ca financial advisor that makes trading decisions on his behalf without his regular input,\u201d and that he is willing to pay a fine if required to do so by the House Ethics Committee.<\/p>\n<p>\u201cI trust them to make these decisions,\u201d Malinowski <a href=\"https:\/\/www.nj.com\/politics\/2021\/03\/nj-congressman-under-fire-for-failing-to-disclose-stock-trades.html\">told<\/a> a local newspaper. \u201cThey don\u2019t ask me in advance of a trade. For that reason, I don\u2019t know why they were making a particular trade at a particular time.\u201d<\/p>\n<p>\u201cThere\u2019s no good reason other than putting off difficult paperwork in the crunch of my responsibilities,\u201d Malinowski added. \u201cI own that. I did it late and that was a mistake. I\u2019m not in any way disputing that.\u201d<\/p>\n<p>The report said that the law Malinowski apparently violated was the Stop Trading On Congressional Knowledge (STOCK) Act, which former President Barack Obama signed into law in 2012. The law <a href=\"https:\/\/obamawhitehouse.archives.gov\/the-press-office\/2012\/04\/04\/fact-sheet-stock-act-bans-members-congress-insider-trading\">requires<\/a> that Members of Congress and other government employees \u201creport certain investment transactions within 45 days after a trade.\u201d<\/p>\n<p>Several Republicans faced scrutiny last year over similar issues, including Sens. Richard Burr (NC), Kelly Loeffler (GA), and David Perdue (GA). Investigations into <a href=\"https:\/\/www.npr.org\/2021\/01\/19\/958622574\/doj-drops-insider-trading-investigation-into-sen-richard-burr\">Burr<\/a>, <a href=\"https:\/\/www.reuters.com\/article\/us-health-coronavirus-usa-senator\/insider-trading-investigation-against-u-s-senator-dismissed-idUSKBN23O2MZ\">Loeffler<\/a>, and <a href=\"https:\/\/freebeacon.com\/democrats\/new-ad-slams-ossoff-for-lying-about-perdues-stock-trades\/\">Perdue<\/a> were later dropped. Following the news stories breaking on the three Republican senators, far-left Rep. Alexandria Ocasio-Cortez (D-NY) called on <a href=\"https:\/\/twitter.com\/AOC\/status\/1240759241847308293\">Burr<\/a> and <a href=\"https:\/\/twitter.com\/AOC\/status\/1240815356572205056\">Loeffler<\/a> to resign and implied that <a href=\"https:\/\/twitter.com\/AOC\/status\/1337804821097746432\">Perdue<\/a> engaged in wrongful activity. However, AOC has thus far remained silent on the allegations facing Malinowski.<\/p>\n<p>New Jersey Republicans slammed Malinowski for his failure to disclose the financial trading activity.<\/p>\n<p>\u201cIt is extremely concerning that, in the middle of the pandemic and accompanying market turmoil, Congressman Malinowski\u2019s brokerage account was launching a flurry of transactions that we are only now learning about,\u201d New Jersey State Republican Chair Michael Lavery said. \u201cThis is especially true because the congressman faced the voters last fall, and failed to provide them legally required information that would inform their vote.\u201d<\/p>\n<p>\u201cWhile New Jersey was counting on our federal representatives for leadership the most, Tom Malinowski was making secret stock deals,\u201d Republican consultant Harrison Neely said. \u201cHis constituents deserve further investigation into his actions.\u201d<\/p>\n<p><em><span>The Daily Wire is one of America\u2019s fastest-growing conservative media companies and counter-cultural outlets for news, opinion, and entertainment. Get inside access to The Daily Wire by becoming a<\/span><\/em> <a href=\"https:\/\/www.dailywire.com\/subscribe\"><em><span>member<\/span><\/em><\/a><em><span>.<\/span><\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Rep. Tom Malinowski (D-NJ) is facing heat following a report released late last week that alleges that he failed to disclose at least $671,000 in stock trades, which would be &#8230;<\/p>\n","protected":false},"author":1,"featured_media":2310251,"comment_status":"close","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-content\/uploads\/2021\/03\/tom-malinowski-1200x800-1.jpg","fifu_image_alt":"Democrat Congressman Allegedly Failed To Disclose Stock Trades During Pandemic: \u2018Extremely Concerning\u2019","footnotes":""},"categories":[],"tags":[],"class_list":["post-197065","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry"],"fifu_image_url":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-content\/uploads\/2021\/03\/tom-malinowski-1200x800-1.jpg","fifu_image_alt":"Democrat Congressman Allegedly Failed To Disclose Stock Trades During Pandemic: \u2018Extremely Concerning\u2019","_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/197065","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=197065"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/197065\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/2310251"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=197065"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=197065"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=197065"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}