Democrat Congressman Caught Not Disclosing Hundreds of Thousands in Stock Trades

Representative Tom Malinowski (D-NJ) was recently caught for failing to publicly disclose dozens of stock trades made, a potential violation of the STOCK Act.

Ironically enough the New Jersey Democrat currently in hot water actually ran on “reforms to limit the role of money in politics.”

Malinowski’s trades in question include more than two dozens purchases/sales during the beginning days of the COVID-19 pandemic, a time where Members of Congress were privy to intel average American citizens were not.

Malinowski’s office released a five page spreadsheet of the congressman’s trades on Wednesday of last week after a reporter pressed their office on the matter.

NEW: Rep. Tom @Malinowski, D-N.J., failed to file dozens of stock trade reports, in apparent violation of the federal STOCK Act, @BusinessInsider found.

Malinowski attributed this to an "oversight" and said the congressman is fixing the problem. https://t.co/NHsTtaZ4GE

— Dave Levinthal (@davelevinthal) March 4, 2021

The spreadsheet contains information that does not appear publicly on the House’s website which is required by law.

Based on information on the spreadsheet, Malinowski made at least $671,000 and as much as $2.76 million worth of trades during 2020.

Colston Reid, Malinowski’s Chief of Staff stated that, “Filing these disclosures late was an oversight that he is taking steps to correct.”

Twitter users outraged about the potential scandal were calling for congressional members to be banned from trading stocks while in office.

Ban members of Congress from trading stocks. https://t.co/CHaq5ppr8g

— Walter Shaub (@waltshaub) March 5, 2021

Representative Tom Malinowski (D-NJ) is not the first Democrat Member of Congress to be caught up in stock scandals. Other members with controversial stock portfolios include House Speaker Nancy Pelosi, Senator Dianne Feinstein (D-CA) and former Senator Kelly Loeffler (R-GA).

Malinowski ran for office claiming he wanted to put in place reforms to, “limit the role of money in politics and increase transparency to ensure regular people — not corporations or special interests — have the strongest voices in Washington.”

It would appear the New Jersey Democrat is off to a slow start on fulfilling his campaign promises.

Do you believe Malinowski made a sincere filing mistake? Do you believe he was purposely misleading the public about his stock trades? Comment your thoughts below!

---