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A high-profile Maryland congressman paid a small fine after again failing to disclose in a timely manner his wife’s stock holdings, a violation of federal law.
Rep. Jamie Raskin (D) sent a $200 check to the Treasury Department after he was about two months late in reporting his wife’s receipt of at least $250,000 worth of stock in the investment firm i(x) investments, according to Insider.
HOUSE ETHICS COMMITTEE RELEASES DATA FROM STOCK INVESTIGATION INTO FLORIDA REPUBLICAN
Raskin’s failure to disclose his wife’s stock holdings on time was in violation of the Stop Trading on Congressional Knowledge Act, a 2012 law meant to crack down on congressional insider trading by requiring periodic financial disclosures from members of Congress and their staff.
The lawmaker, who gained national prominence through serving as the lead manager for former President Donald Trump’s second impeachment trial and later as a member of the Jan. 6 committee, claimed that he failed to file a timely disclosure because he did not learn of the transaction until more than two months after it happened. Raskin said he waited an additional two weeks to file a report in order to “[get] in touch with ethics staff” and determine how to report the stock acquisitions properly. “I submitted the PTR and have also submitted a $200 check for an apparently late filing,” he also said.
A financial disclosure filed by Raskin and obtained by Insider shows that his wife, failed Federal Reserve vice chairwoman nominee Sarah Bloom Raskin, received between $250,000 and $500,000 worth of stock from i(x) investments on Feb. 9. Although the couple did not learn of the transaction until March 11, under the STOCK Act, they still only had until March 26 to file a report. Jamie Raskin did not submit the legally required periodic transaction report until June 9.
The Washington Examiner reached out to Jamie Raskin’s office for comment.
Insider reported in February that Jamie Raskin had previously violated the STOCK Act when he was more than six months late in reporting his wife’s sale of $1.5 million worth of stock shares of the fintech company Reserve Trust. The congressman also failed to report that his wife owned the shares in the first place. At the time, Jamie Raskin attributed his failure to disclose the stock sale to grief surrounding his son’s recent suicide but did not provide an explanation for why he did not report the holdings initially.
CLICK HERE TO READ MORE FROM THE WASHINGTON EXAMINER
Another lawmaker, Sen. John Hickenlooper (D-CO), also apparently violated the STOCK Act by failing to report hundreds of thousands of dollars in stock trades by his wife. Hickenlooper was late in reporting 10 different transactions, most of which involved Liberty Media Corporation, where his wife works as a senior vice president, according to an Insider assessment. Hickenlooper did not respond to Insider’s requests for comment on the transactions.
CORRECTION: A previous version of this report said Hickenlooper was late filing 18 transactions. He was late filing 10 transactions. The Washington Examiner regrets the error.
