FACT Calls for Probe into Rep. Malinowski for Financial Reporting Violations
Evidence Suggests Rep. Malinowski Ignored House Ethics Rules and Federal Law
Washington, D.C.— March 8, 2021— Today, the non-partisan ethics watchdog, the Foundation for Accountability and Civic Trust (FACT), filed a complaint requesting the Office of Congressional Ethics (OCE) investigate Representative Tom Malinowski (NJ) for failing to disclose financial transactions as required by law.
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.
Recent reporting shows that Rep. Malinowski failed to disclose dozens of stock transactions. This involved about 90 stock trades valued between $671,000 and $2.76 million that occurred in 2020--including 24 purchases and sales that took place during the early weeks of the COVID-19 pandemic. One stock in particular was a medical diagnostic company (Chembio Diagnostics Inc.) that manufactures COVID-19 tests, and others included manufacturers of shelf-stable foods and home exercise equipment.
“The law is abundantly clear on what is required of all House Members when it comes to personal financial disclosures. Rep. Malinowski’s failure to report roughly 90 financial transactions is unacceptable. More egregious is that many of the transactions involved COVID-related stocks. Rep. Malinowski’s failure to file timely and accurate financial disclosures must be investigated by the OCE and the proper penalties must be assessed,” said Kendra Arnold, Executive Director of FACT.
A full copy of the complaint can be found by clicking here.
FACT is a nonprofit organization dedicated to promoting accountability, ethics, and transparency in government and civic arenas. For more on FACT, visit: http://www.factdc.org/