Malinowski made unreported stocks trades after complaint filed

The conservative watchdog organization, the Foundation for Accountability and Civic Trust (FACT), sent the Office of Congressional Ethics (OCE) a letter laying out further evidence that Representative Tom Malinowski continued to trade stocks after a complaint was filed against him in March.

Federal law and House ethics rules require members of Congress to provide “full and complete” financial information to the public, including assets, debts, income, and periodic reports of financial transactions that exceed $1,000.

Even after it was publicly disclosed that Malinowski failed to disclose about 90 stock trades worth between $671,000 and $2.67 million in 2020 and FACT filed its complaint, the New Jersey congressman affirmatively chose to trade stocks without ensuring the transactions were disclosed.

Recently, it was reported that Malinowski “took more than the legally required time to report nine stock transactions worth up [to] at least $186,000 this month and in some cases nearly two months after the transaction.

The nine stock transactions occurred in April and Malinowski was notified of them at the end of that month.” Ultimately, he disclosed the stock purchases and sales on June 12, 2021, past the legal deadline of reporting trades within 30 or 45 days of the transactions.

“The disclosure laws are put in place for a reason and they are essential for a government to operate in an ethical and transparent manner,” said Kendra Arnold, executive director of FACT. "Timely and accurate filings are the only way for citizens to determine whether the Member they elected is engaging in self- enrichment. The Office of Congressional Ethics and the House Ethics Committee need to investigate Representative Malinowski immediately and impose the proper sanctions for all ongoing violations."

A full copy of the complaint can be found at https://www.factdc.org/post/watchdog-submits-additional-evidence-in-a-complaint-against-rep-tom-malinowksi

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