The House Ethics Committee announced on Thursday it will further investigate Rep. Tom Malinowski’s (D-NJ) hundreds of stock transactions that allegedly violated the federal STOCK Act of 2012.
The committee’s chairman, Rep. Ted Deutch (D-FL), and ranking member, Rep. Jackie Walorski (R-IN), wrote in a statement that the committee agreed to further investigate Malinowski’s alleged violation of the federal STOCK Act in a five to one vote.
Rep. Malinowski did not file Periodic Transaction Reports (PTRs) for stock transactions he made between 2019 and 2020. If Rep. Malinowski failed to properly disclose stocks that he purchased or sold or failed to properly file PTRs for any of the stock transactions he made, then he may have violated House rules, standards of conduct, and federal law.
“There is substantial reason to believe that that [sic] he failed to properly disclose stocks that he purchased or sold or failed to properly file PTRs for any of the stock transactions he made,” the report added.
The National Republican Congressional Committee (NRCC) spokeswoman said, “Tom Malinowski just can’t stop breaking the law. He’s a corrupt politician who will be held accountable for his crooked behavior by New Jerseyans and now, potentially the House Ethics Committee.”
Breitbart News has continuously reported on Malinowski’s alleged violations of House ethics rules by failing to report hundreds of thousands of dollars in trades on time. Breitbart News reported:
In March, Malinowski received two congressional ethics complaints on dozens of his stock trades which occurred in 2020, in the first weeks of the Chinese coronavirus pandemic. Eventually, he filed them late, which at the time were worth at least $671,000.
In July, the congressman reportedly paused all of his stock trading until he got approval from the House Ethics Committee to put all of his assets into a blind trust after the multiple complaints that were filed against him.
In August, another report noted that, “in addition to multiple ethics complaints the congressman is facing after failing to disclose hundreds of thousands of dollars in stock transactions, in July,” the congressman also changed his previous disclosure to show some trades that were not reported over two years ago in 2019.
Breitbart News previously reported on the STOCK Act requiring members to file any financial transactions that exceed $1,000 within 30 to 45 days of the transaction. Malinowski allegedly violated this law by failing to make these disclosures.
In 2012, Congress quickly passed the STOCK Act and former President Barack Obama signed it into law after it received substantial bipartisan support in both chambers. The legislation was introduced and promptly signed into law thanks to Breitbart News senior contributor Peter Schweizer, who in 2011 released Throw Them All Out, exposing corruption in the highest echelons of elected life.
In Schweizer’s book, he exposed House Speaker Nancy Pelosi (D-CA) and many others, revealing corruption among Republicans and Democrats on Capitol Hill, forcing Congress into adopting the STOCK Act that implemented stricter reporting and ethics requirements.
Jacob Bliss is a reporter for Breitbart News. You can follow him on Twitter.