Vulnerable Dem Caught in the Spotlight as New Scandal Emerges

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Caught in the Spotlight
Caught in the Spotlight

Yet again, another vulnerable Dem has been caught in the spotlight for doing all of the wrong things constantly. Mercy me, when are these Democrats ever going to learn?

Vulnerable Democrat Representative Susie Lee (NV) has reportedly failed to adequately disclose some of her personal stock trades, valued at up to $3.3 million.

Lee is a congresswoman in a battleground district, and they are now claiming that she didn’t correctly disclose literally hundreds of her personal stock trades since early last year, according to Business Insider who has reviewed her personal financial records. The transactions have an estimated worth of as low as $267,000 to as high as $3 million.

The report was quick to note that the congresswoman and her husband – in at least seven filings between February and May of last year – had not disclosed any trades where they had either bought and sold stocks in companies such as U.S. Foods Holding Corporation, Williams-Sonoma, INce., Carnival Corporation, Marriott International, Wayfair, Inc., and Planet Fitness Inc.

The disclosure from Lee allegedly came “several days after deadlines mandated.”

Breitbart News previously reported in regards to the Stop Trading on Congressional Knowledge Act of 2012, also known as the STOCK Act, which is known for requiring members to file financial reports when a trade of over $1,000 is made:

Members are supposed to file “full and complete” financial disclosure reports of themselves and the members’ spouse’s assets, debts, and income, in addition to the filing “periodic reports” when transactions are made that exceed $1,000. Every member is required to do so within 30 to 45 days of the transaction.

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The report also noted that these late trades did not appear to “trigger automatic late-filing penalties, as congressional officials generally wave a perfunctory $200 fine so long as a stock-trade disclosure is no more than 30 days past a federal deadline.”

Zoe Sheppard is a spokesperson for the congresswoman, and she told Insider that Lee had not been directly involved with any of the stock trades that had been made with her own money:

“These trades were executed by a third party money manager with no input whatsoever from the congresswoman. … Once made aware of the transactions, Congresswoman Lee worked with a financial advisor and the House Ethics Committee to file transactions as soon as possible to comply with disclosure requirements, and has disclosed all reportable transactions during her time in Congress.”

When they pressed her by Insider on why these disclosures had been filed late and whether the congresswoman had been imposed any fines, the spokesperson noted the following: “While Congresswoman Lee has filed all reportable transactions, there have been a small number of previously unnoticed clerical errors that are being promptly addressed in consultation with the House Ethics Committee.”

“The congresswoman has not been actively assessed any late filing fees or penalties at this time,” Sheppard added.

Delaney Marsco is the senior lead counsel for ethics at the nonpartisan Campaign Legal Center, and she told Insider that she didn’t think that the late filing appeared to be intentional, “but if you’re filing within 35 or 40 days, why not disclose within 30 days and follow the law? … It shows that the member is taking the STOCK Act as a suggestion, not the law. These are very clear deadlines.”

The report added:

“Lee’s stock-disclosure habits have improved lately. On September 10, she promptly disclosed a series of her most recent stock trades — including Victoria’s Secret & Co., Live Nation Entertainment Inc., and Booz Allen Hamilton Holding Corp. — that her financial advisors notified her of on September 1.

Other aspects of Lee’s personal finances caught in the spotlight have faced scrutiny since last year, such as when she advocated for federal pandemic aid for the gaming industry — and her husband’s casino-development business benefited from it. At the time, Lee’s office said she had no involvement in her husband’s business receiving pandemic relief funds.”

The spokesperson also did not answer Insider as to “why Lee traded individual stocks or whether she supported the Ban Conflicted Trading Act, sponsored by her fellow Democrat Sen. Jeff Merkley of Oregon,” which would prohibit Congressional members from trading individual stocks. She has apparently been caught in the spotlight for all of the wrong reasons.