Rep. Tom Malinowski (D-NJ) failed to publicly disclose dozens of stock trades during 2020 at the beginning of the COVID pandemic, according to a Business Insider investigative report.
Malinowski has made government transparency one of the foundational themes of his congressional tenure.
The STOCK Act requires members of Congress to publicly disclose all stock trades within 45 days. Reporter Drew Levinson of Business Insider says Malinowski’s stock trading peaked during March 2020 amid the COVID-19 pandemic.
Among Malinowski’s reported investments: a company that manufactures COVID-19 tests; quarantine-friendly food product manufacturers (cereal, peanut butter, packaged snacks, etc.); Peloton, a home exercise equipment company); and a luxury car manufacturer.
Malinowski reportedly earned between $671,000 and $2.76 million in stock trades during 2020.
A spokesman for Malinowski said he was not intentionally concealing his trading activities. His office characterized any lapses as an “oversight”, according to Business Insider.
The congressman’s office told Business Insider that Malinowski recently filed all missing stock trade disclosures, and said that he is willing to pay a fine for the non-compliance, if necessary.
Read the full story (behind paywall) at link:
https://www.businessinsider.com/tom-malinowski-stock-trades-congress-transparency-new-jersey-2021-3
