Ethics Watchdog Calls for Investigation Into Democrat Rep. Tom  Suozzi ’s Stock Transactions

In this Aug. 18, 2020 file photo, U.S. Rep. Tom Suozzi, D-N.Y., addresses the media during a news conference, in the Queens borough of New York. Suozzi survived a tough challenge to win a third term representing a district that includes Long Island's wealthy north shore.. (AP Photo/John Minchillo, File)
AP Photo/John Minchillo

The Foundation for Accountability and Civic Trust (FACT), a non-partisan ethics watchdog organization, demanded an investigation into Democrat Rep. Tom Suozzi’s (D-NY) stock transactions after he allegedly failed to disclose up to $885,000 in stocks between 2017 and 2021, which possibly presented a conflict of interest.

The watchdog filed a complaint with the Office of Congressional Ethics (OCE) asking to probe into Suozzi for failing to adequately disclose 31 stock trades  outside the window required by law worth up to $885,000.

One of the stocks that Suozzi filed — Superior Industries International — in his most recent periodic transaction report with the clerk in the House of Representatives on March 3 included one stock trade from September 2017, meaning it was reported over four years late. Other stocks are Apple, Altria Group, Boeing, BlackRock, Caterpillar, Citigroup, Cisco Systems, General Electric, IBM, and Verizon Communications, which he made between September 2017 to June 2021.

In fact, this is not the first time the congressman has been in violation of not reporting stock transactions. Last year he received another ethics complaint with the OCE on September 22, 2021, after allegedly failing to disclose approximately 300 stock trades.

Suozzi, like every other member of Congress, is required to submit a periodic transaction report with the clerk in the House of Representatives within 30 to 45 days of stock transitions over $1,000 made on behalf of themselves or their spouses under the Stop Trading on Congressional Knowledge (STOCK) Act of 2012.

The complaint explained that it is “extremely important” for the laws to be “strictly enforced to determine whether a Member has used nonpublic information for profit or whether their personal investments affected their action on legislation” since members of Congress vote on bills that could affect the very same companies they hold equity in.

“There is simply no excuse for making disclosures months to years late and Suozzi’s egregious delay makes the law ineffective,” the complaint noted. “This is because the long delay makes it nearly impossible for the public to determine whether Suozzi used nonpublic information or had a conflict of interest at the time he traded the stocks.”

FACT’s Executive Director, Kendra Arnold, slammed the congressman in a press release:

The disclosure law is fundamental and must be strictly enforced to determine whether a Member has used nonpublic information for profit or if their personal investments affected their action on legislation. There is no excuse for making disclosures months to years late, and Rep. Suozzi’s egregious delay makes the law completely ineffective. Thus, we are requesting the OCE investigate both the late disclosure violations, along with whether the trades themselves violated conflict of interest rules or were influenced by nonpublic information.

“The length of the delay in this current instance, the volume of unreported financial transactions, and the repeated inability to comply with the rules clearly indicate an intentional disregard for the law at a minimum,” the complaint said, noting that “The OCE must act to ensure compliance with the most fundamental ethics requirements and to maintain the public’s trust.”

In 2012, Congress quickly passed the STOCK Act and signed it into law after receiving substantial bipartisan support in both chambers. The legislation was introduced and promptly signed into law thanks to Breitbart News senior contributor Peter Schweizer, who in 2011 released Throw Them All Out, exposing corruption in the highest echelons of elected life.

Schweizer’s book, which exposed House Speaker Nancy Pelosi (D-CA) and many others, revealed corruption concerns among Republicans and Democrats on Capitol Hill, forcing Congress into adopting the STOCK Act that implemented stricter reporting and ethics requirements.

A full copy of the FACT’s complaint against Suozzi can be found here.

Jacob Bliss is a reporter for Breitbart News. You can follow him on Twitter.


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