Rep. Tom Malinowski, D-N.J., is in hot water after failing to publicly disclose at least $671,000 in personal stock trades in 2020.
Malinowski made a flurry of trades in March 2020 at the beginning of the coronavirus pandemic, investing in General Mills, the J.M. Smucker Company and, later, Peloton, according to Business Insider, which first reported Malinowski’s failure to disclose the trades.
Malinowski “has a financial advisor that makes trading decisions on his behalf without his regular input,” his spokeswoman told Business Insider. Malinowski is willing to pay a fine if the House Ethics Committee deems it appropriate, his spokeswoman told Business Insider.
Malinowski may have made as much as $2.76 million in trades as members of Congress are not required to report exact amounts of their stock assets, according to Business Insider.
Malinowski had given a Business Insider reporter access to information about his stock activity, leading to the revelation that many of the 2020 trades were not listed publicly as required.
“Filing these disclosures late was an oversight that he is taking steps to correct,” Colston Reid, Malinowski’s chief of staff, told Business Insider.
Fox News’ inquiry to Malinowski’s office was not immediately returned.