{"id":534707,"date":"2021-05-21T18:06:22","date_gmt":"2021-05-21T22:06:22","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=534707"},"modified":"2021-05-21T18:06:25","modified_gmt":"2021-05-21T22:06:25","slug":"complaints-filed-against-dem-congressman-who-profited-from-investments-during-pandemic","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/complaints-filed-against-dem-congressman-who-profited-from-investments-during-pandemic\/","title":{"rendered":"Complaints Filed Against Dem Congressman Who Profited From Investments During Pandemic"},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"&quot;\"><div class=\"counts mashsbcount\">22<\/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%2Fcomplaints-filed-against-dem-congressman-who-profited-from-investments-during-pandemic%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=534707&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\/05\/GettyImages-1228547982.jpg?w=1200&amp;h=800&amp;ixlib=react-9.0.3\" class=\"ff-og-image-inserted\" \/><\/div>\n<p>Two complaints have been filed against Rep. Tom Malinowski (D-NJ) after reports surfaced that he bought securities at low prices, then profited after their value soared during the pandemic \u2014 and allegedly did not properly disclose his actions. He also reportedly sold shares before they plummeted.<\/p>\n<p>In April 2020, Malinowski, who served as Assistant Secretary of State&nbsp;for Democracy, Human Rights and Labor with the Obama Administration starting in 2014, told MSNBC, &nbsp;\u201cThis is not the time for anybody to be profiting off of selling ventilators, vaccines, drugs, treatments, PPE (personal protective equipment), anywhere in the world,\u201d as the <a href=\"https:\/\/apnews.com\/article\/health-coronavirus-pandemic-business-government-and-politics-388628625536887fefa47b9bbca629eb\">Associated Press<\/a>&nbsp;noted.<\/p>\n<p>\u201cSince early 2020, Malinowski has bought or sold as much as $1 million of stock in medical and tech companies that had a stake in the virus response, according to an analysis of records by The Associated Press,\u201d the news agency reported. \u201cThe trades were just one slice of a stock buying and selling spree by the congressman during that time, worth as much as $3.2 million, that he did not properly disclose.\u201d<\/p>\n<p>President George W. Bush\u2019s ethics attorney Richard Painter told AP, \u201cIt boggles my mind why he\u2019s doing it. It\u2019s a huge conflict of interest and not an acceptable situation.\u201d<\/p>\n<p>AP stressed that there is \u201cno indication Malinowski acted on inside information to make his investment decisions,\u201d but cautioned that &nbsp;it is \u201cdifficult to assess the full scope of his financial activity,\u201d as almost six months after the year ended \u201cmandatory reports to Congress detailing his trades have not been made public\u201d<\/p>\n<p>Malinowski said of not filing a disclosure that it is \u201ca mistake that I own 100%,\u201d although he claimed the reports were ultimately submitted. He also stated that his broker decides what trades he makes and he is unaware of specific transactions. \u201cAt no point in the last 25 years have I directed, suggested, or even asked questions about a particular trade being made by my brokerage firm,\u201d he said, allowing that the one exception was when he was asked to sell stock after he started at the State Department.<\/p>\n<p>Painter countered, \u201cOf course he is going to say his broker makes all the decisions.\u201d<\/p>\n<p>AP reports that Malinowski\u2019s office provided a statement from his trading firm provided a statement saying that the trades were made \u201cwithout Congressman Malinowski\u2019s input or prior knowledge.\u201d<\/p>\n<p>In 2012, Congress passed the <a href=\"https:\/\/www.congress.gov\/bill\/112th-congress\/senate-bill\/2038\">Stock Act<\/a>, which stated that it required \u201cspecified individuals to file reports within 30 to 45 days after receiving notice of a purchase, sale, or exchange which exceeds $1,000 in stocks, bonds, commodities futures, and other forms of securities and subject to any waivers and exclusions.\u201d<\/p>\n<p>Rep. Abigail Spanberger (D-VA) commented, &nbsp;\u201cI don\u2019t know that you should be buying and selling stock when the people we represent are facing what will invariably be the most horrific and challenging years of their lives. If you are not willing to make certain sacrifices to be in public service, then perhaps there might be a different job that\u2019s best for you.\u201d<\/p>\n<p>AP highlighted another ethical complaint involving Malinowski, when he was an assistant secretary of state during the Obama administration. After being confirmed to the position in 2014, Malinowski agreed to sell shares held in a Chinese insurance company because it posed a \u201cheightened prospect of a conflict of interest,\u201d yet the stock \u201cremained in his portfolio for over a year, well beyond a 90-day window to sell that he agreed to, records show.\u201d<\/p>\n<p><em>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 <\/em><a href=\"https:\/\/www.dailywire.com\/subscribe\"><em>member<\/em><\/a><em>.&nbsp;<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Two complaints have been filed against Rep. Tom Malinowski (D-NJ) after reports surfaced that he bought securities at low prices, then profited after their value soared during the pandemic \u2014 &#8230;<\/p>\n","protected":false},"author":1,"featured_media":2312650,"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\/05\/GettyImages-1228547982.jpg?w=1200&h=800&ixlib=react-9.0.3","fifu_image_alt":"Complaints Filed Against Dem Congressman Who Profited From Investments During Pandemic","footnotes":""},"categories":[],"tags":[],"class_list":["post-534707","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry"],"fifu_image_url":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-content\/uploads\/2021\/05\/GettyImages-1228547982.jpg?w=1200&h=800&ixlib=react-9.0.3","fifu_image_alt":"Complaints Filed Against Dem Congressman Who Profited From Investments During Pandemic","_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/534707","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=534707"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/534707\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/2312650"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=534707"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=534707"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=534707"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}