(Alex Tien, Headline USA) In an appalling display of arrogance and dishonesty, a New York Democrat has failed to properly disclose more than $885,000 in stock transactions as required by law.
Foundation for Accountability and Civic Trust filed a complaint to the Office of Congressional Ethics on Monday, claiming that from September of 2017 to June of 2021, Rep. Tom Suozzi, D-N.Y. did not report at least 31 stock transactions until last month. Some of these transactions were reported over four years late.
Suozzi’s trades and dealings look to be highly questionable, as they have “involved 9 companies that are either clearly regulated or affected by Congressional action, such as Apple, Altria Group, Boeing, BlackRock, Caterpillar, Citigroup, Cisco Systems, General Electric, IBM, and Verizon Communications,” FACT wrote in a letter to the Congressional Ethics office.
Federal law requires that members of the House of Representatives disclose their financial information to the public. The standard practice is that representatives must legally report any financial transaction of $1,000 or more within 30 days after they occur. Additionally, representatives must produce an annual congressional report.
This is not the first time that the New York legislator has been accused of impropriety. He was the subject of a prior complaint filed with the Congressional Ethics office on Sept. 22, 2021, alleging he failed to disclose approximately 300 stock trades. The reportedly undisclosed trades were discovered by the Campaign Legal Center, which found that his transactions may have valued at up to $11 million, the Epoch Times reported.
The letter sent by FACT to the ethics office stressed how essential it is that these laws are enforced.
“The disclosure law is extremely important and it must be strictly enforced to determine whether a Member has used nonpublic information for profit or whether their personal investments affected their action on legislation,” officials wrote.
“There is simply no excuse for making disclosures months to years late and Suozzi’s egregious delay makes the law ineffective.”
