{"id":906854,"date":"2021-10-21T17:14:14","date_gmt":"2021-10-21T21:14:14","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=906854"},"modified":"2021-10-21T17:14:16","modified_gmt":"2021-10-21T21:14:16","slug":"malinowski-reveals-millions-of-dollars-in-undisclosed-stock-trades","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/malinowski-reveals-millions-of-dollars-in-undisclosed-stock-trades\/","title":{"rendered":"Malinowski Reveals Millions of Dollars in Undisclosed Stock Trades"},"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\">18<\/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%2Fmalinowski-reveals-millions-of-dollars-in-undisclosed-stock-trades%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=906854&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 readability=\"29.126530612245\">\n\t\t\t<span class=\"article-category\"><a class href=\"https:\/\/freebeacon.com\/democrats\/\">Democrats<\/a><\/span><\/p>\n<p class=\"article-excerpt\">New Jersey Democrat under investigation for apparent STOCK Act violations<\/p>\n<figure class=\"post-thumbnail-container relative lg:mr-24 w-full my-4 mb-8\">\n\t\t<img decoding=\"async\" loading=\"lazy\" width=\"736\" height=\"514\" src=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-content\/uploads\/2021\/10\/GettyImages-1228547982_736x514-1.jpg\" class=\"w-full lazyload blur-up wp-post-image\" alt srcset=\"data:image\/gif;base64,R0lGODlhAQABAAAAACH5BAEKAAEALAAAAAABAAEAAAICTAEAOw==\" sizes=\"auto, (max-width: 736px) 100vw, 736px\" data-srcset=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-content\/uploads\/2021\/10\/GettyImages-1228547982_736x514.jpg 736w, https:\/\/freebeacon.com\/wp-content\/uploads\/2021\/10\/GettyImages-1228547982_736x514-300x210.jpg 300w, https:\/\/freebeacon.com\/wp-content\/uploads\/2021\/10\/GettyImages-1228547982_736x514-703x491.jpg 703w\" data-sizes=\"auto\" \/><figcaption class=\"absolute text-white p-4 w-full text-right text-xs bottom-0 bg-black opacity-75\">\n\t\t\t\tRep. Tom Malinowski (D., N.J.) \/ Getty Images\t\t\t<\/figcaption><\/figure>\n<p>\t\t\t<span class=\"text-gray text-xs md:text-lg\"><a href=\"https:\/\/freebeacon.com\/author\/matthew-foldi\/\" title=\"Posts by Matthew Foldi\" class=\"author url fn text-red-700\" rel=\"author\">Matthew Foldi<\/a> \u2022 October 21, 2021 5:05 pm<\/span><\/p><\/div>\n<div readability=\"110.63441409242\">\n<p dir=\"ltr\">Just days after entering his financial assets into a blind trust to sidestep ethics questions over his failure to disclose stock transactions in a timely manner, New Jersey Democrat Tom Malinowski revealed 86 new financial transactions worth up to $1.97 million that he failed to disclose when he originally made them.<\/p>\n<p dir=\"ltr\">Those transactions, <a href=\"https:\/\/disclosures-clerk.house.gov\/public_disc\/ptr-pdfs\/2021\/20019374.pdf\">disclosed<\/a> on Aug. 26, date back to January 2019, his first month as an elected official. Together they were valued at between $373,086 and $1,970,000, according to a <em>Washington<\/em> <em>Free Beacon<\/em> analysis. The disclosure came just a week after Malinowski on Aug. 17 entered his assets into a blind trust in hopes of sidestepping ethics concerns raised over his past violations of the STOCK Act, which <a href=\"https:\/\/ethics.house.gov\/sites\/ethics.house.gov\/files\/documents\/CY%202020%20Instruction%20Guide%20for%20Financial%20Disclosure%20Statements%20and%20PTRs.pdf\" target=\"_blank\" rel=\"noopener\" data-saferedirecturl=\"https:\/\/www.google.com\/url?q=https:\/\/ethics.house.gov\/sites\/ethics.house.gov\/files\/documents\/CY%25202020%2520Instruction%2520Guide%2520for%2520Financial%2520Disclosure%2520Statements%2520and%2520PTRs.pdf&amp;source=gmail&amp;ust=1634841720217000&amp;usg=AFQjCNHxMznkrVqrB3975y6WBi9AgYbKcA\" data-mt-detrack-inspected=\"true\">requires<\/a> members of Congress to report securities transactions worth over $1,000 within 45 days.<\/p>\n<p dir=\"ltr\">Malinowski failed to report any of the 86 newly disclosed stock transactions, made between January 2019 and March 2021, within the required 45 day timeframe. Also included in the report were 48 amendments to financial transaction disclosures that were filed inaccurately.<\/p>\n<p dir=\"ltr\">A report by <a href=\"https:\/\/www.businessinsider.com\/tom-malinowski-stock-trades-congress-transparency-new-jersey-2021-3#\" target=\"_blank\" rel=\"noopener\"><em>Business Insider<\/em> in March<\/a> that Malinowski had repeatedly violated the STOCK Act in his first two years as a congressman led to numerous ethics complaints against the New Jersey Democrat. The House Ethics Committee <a href=\"https:\/\/www.rollcall.com\/2021\/09\/07\/ethics-panel-announces-four-investigations\/\">said<\/a> it will announce findings on its investigation into Malinowski&#8217;s financial activity no later than Oct. 21.<\/p>\n<p dir=\"ltr\">Malinowski said his decision to enter his assets into a blind trust go &#8220;well above what the law requires&#8221; to avoid conflict of interest concerns, but just days later committed what watchdog group Foundation for Accountability and Civic Trust called one of the simplest ethics rules.<\/p>\n<p dir=\"ltr\">&#8220;Stock transaction disclosures are one of the easiest, yet essential requirements with which members must comply,&#8221; FACT executive director Kendra Arnold told the <em>Free Beacon<\/em>. &#8220;The law clearly states members must provide \u2018full and complete&#8217; financial information to the public in a timely manner. Rep. <span class=\"il\">Malinowski<\/span> is well aware of his failure to comply with these rules already, however, he apparently chose to continue to file improperly. These additional violations should be of grave concern to the public because if members cannot follow this simple rule, the public will cease to trust them and our broader system.&#8221;<\/p>\n<p dir=\"ltr\">Among Malinowski&#8217;s undisclosed transactions were purchases of health care and technology companies that saw their values skyrocket during the pandemic.<\/p>\n<p dir=\"ltr\">On June 11, 2020, for example, Malinowski purchased stock for roughly $5 a share in TFF Pharmaceuticals, a biopharmaceutical company that won major investment as it developed potential COVID-19 treatments. The company&#8217;s stock price more than tripled to $18.34 before the year&#8217;s end. It is unclear whether Malinowski still holds the stock.<\/p>\n<p dir=\"ltr\">Over half of the newly disclosed trades were made after Jan. 21, 2020\u2013when the World Health Organization determined that coronavirus reached America.<\/p>\n<p>Also included in the new batch of disclosures are transactions involving Chinese companies such as CNFinance Holdings Ltd, which is based out of Guangzhou, China, according to its <a href=\"https:\/\/www.nasdaq.com\/market-activity\/stocks\/cnf\" target=\"_blank\" rel=\"noopener\" data-saferedirecturl=\"https:\/\/www.google.com\/url?q=https:\/\/www.nasdaq.com\/market-activity\/stocks\/cnf&amp;source=gmail&amp;ust=1634841720217000&amp;usg=AFQjCNHuPvnhU7OMKLb8eZs0ufstwTidTQ\" data-mt-detrack-inspected=\"true\">listing<\/a> on the NASDAQ. Malinowski has publicly talked tough on China, even penning an <a href=\"https:\/\/www.washingtonpost.com\/opinions\/2020\/06\/03\/way-defeat-china-is-be-true-ourselves\/\" target=\"_blank\" rel=\"noopener\">op-ed for the <em>Washington Post<\/em><\/a> outlining how the United States could&nbsp; &#8220;defeat China.&#8221;<\/p>\n<p dir=\"ltr\">The ongoing ethics headache could put <span class=\"il\">Malinowski<\/span> in serious electoral trouble. The New Jersey Democrat is viewed as one of the most vulnerable members in the House\u2014he won reelection in 2020 by just over 1 point.<\/p>\n<p dir=\"ltr\">Malinowski is also at risk of falling prey to the redistricting process, which takes place in New Jersey and states across the country every 10 years. Democratic lawmakers in charge of the process could view <span class=\"il\">Malinowski<\/span> as a political liability and draw lines that would speed up his exit from politics.<\/p>\n<p dir=\"ltr\"><span class=\"il\">Malinowski&#8217;<\/span>s office did not respond to a request for comment.<\/p>\n<\/p><\/div>\n","protected":false},"excerpt":{"rendered":"<p>Democrats New Jersey Democrat under investigation for apparent STOCK Act violations  Rep. Tom Malinowski (D., N.J.) \/ Getty Images  Matthew Foldi \u2022 October 21, &#8230;<\/p>\n","protected":false},"author":7,"featured_media":2315279,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"","fifu_image_alt":"","footnotes":""},"categories":[],"tags":[],"class_list":["post-906854","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry"],"_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/906854","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\/7"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=906854"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/906854\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/2315279"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=906854"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=906854"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=906854"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}