FACT Calls for Investigation into Rep. Tom Suozzi
Updated: Jun 9, 2022
Evidence Suggests Rep. Suozzi (NY) Continuously Ignores House Ethics Rules and Federal Law
Washington, D.C.— April 4, 2022— Today, the non-partisan ethics watchdog, the Foundation for Accountability and Civic Trust (FACT), filed a complaint requesting the Office of Congressional Ethics (OCE) immediately investigate Congressman Tom Suozzi for failing to disclose years' worth of financial transactions.
Federal law and House Ethics rules require Members to provide “full and complete” financial information to the public, including a Member’s assets, debts, income, and periodic reports of financial transactions that exceed $1,000 within 30 to 45 days of the transaction. The disclosure requirements are an integral part of an honest and transparent government: accurate and timely filing is the only method for the public to determine whether Members have conflicts of interest or are wrongfully profiting from their position.
Recent reporting shows that Rep. Suozzi failed to disclose 31 stock trades outside the window required by law. The stocks were valued at up to $885,000.
Rep. Suozzi's stock trades were reported months to years late. The transactions occurred between September 2017 and June 2021 and were disclosed on March 3, 2022. Rep. Suozzi's stock purchase of aluminum manufacturer Superior Industries International Inc. was made on September 5, 2017, which Rep. Suozzi disclosed over four years late. Additionally, this is not the first time he appears to have violated financial disclosure requirements. Rep. Suozzi was the subject of a prior complaint filed with the OCE on September 22, 2021, alleging he failed to disclose approximately 300 stock trades.
"The disclosure law is fundamental and must be strictly enforced to determine whether a Member has used nonpublic information for profit or if their personal investments affected their action on legislation. There is no excuse for making disclosures months to years late, and Rep. Suozzi's egregious delay makes the law completely ineffective. Thus, we are requesting the OCE investigate both the late disclosure violations, along with whether the trades themselves violated conflict of interest rules or were influenced by nonpublic information," said Kendra Arnold, Executive Director of FACT.
A full copy of the complaint can be found here.
FACT is a nonprofit organization to promote accountability, ethics, and transparency in government and civic arenas. For more on FACT, visit: http://www.factdc.org/