Watchdog says financial omissions may violate federal ethics law.
Rep. Jasmine Crockett, a first-term Democrat from Texas and a prominent progressive, is facing an ethics complaint over allegations she failed to disclose ownership of stock in more than two dozen companies, potentially violating federal financial disclosure laws.
The complaint, filed by the nonpartisan Foundation for Accountability and Civic Trust (FACT), accuses Crockett of concealing assets that could pose conflicts of interest with her legislative work. If confirmed, the omissions could result in severe penalties, including fines or imprisonment.
Discrepancy Between State and Federal Disclosures
As a Texas state legislator in 2021, Crockett reported investments in 28 companies spanning pharmaceuticals, energy, technology, automotive, and cannabis. But when she submitted her congressional disclosures covering the same period, 25 of those holdings were missing.
Among the omitted stocks were firms that could be directly impacted by legislation Crockett has supported in the House. FACT argues that this discrepancy merits immediate investigation.
Potential Conflicts of Interest
Some of the undisclosed holdings appear to contradict Crockett’s public stances. She reported owning shares in marijuana firms like Aurora Cannabis and Corporate Cannabis while co-sponsoring legislation to decriminalize marijuana federally. She also held stock in ExxonMobil despite aligning with climate activists and backing policies critical of the fossil fuel industry.
“These are exactly the types of conflicts disclosure laws are meant to catch,” said FACT Executive Director Kendra Arnold. “When members of Congress fail to disclose their financial interests, they undermine trust in the institution and open the door to abuse.”
Valuation Threshold May Trigger Penalties
Federal law requires members of Congress to report stock holdings worth more than $1,000. While Crockett’s state filings show ownership of fewer than 100 shares per company, FACT pointed to at least two — T2 Biosystems and Red Hill Biopharma — whose stock traded above that threshold during 2021.
According to FACT’s complaint, even a single share in those companies would have triggered the disclosure requirement under the Ethics in Government Act.
Penalties for noncompliance can include civil fines of up to $50,000 and criminal charges carrying a potential sentence of up to one year in prison, if investigators determine the omissions were intentional.
Next Steps: Possible Ethics Committee Referral
The Office of Congressional Conduct, which reviews misconduct allegations against House members, has received the complaint. If it finds grounds for further action, the case could be referred to the House Ethics Committee.
Crockett, considered a rising star on the Democratic left and a vocal ally of the so-called Squad, has not publicly responded to the allegations as of this article’s publication.
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NOW we know who is replacing Nancy Pelosi !
More of the ” same old same-O”. Nancy Pelosi set the standard for allegedly trading securities based on things that she discovered while in office. And yet nothing has happened to Nancy and she is being allowed to retire with her supposedly ill-gotten gains. The failure of the DOJ to hold her accountable for these questionable trades naturally encourages other politicians to use some of the same tactics. Let’s say a big HELLO to Ms. Crockett, taught by one of the best.