Two complaints have been filed against Rep. Tom Malinowski (D-NJ) after reports surfaced that he bought securities at low prices, then profited after
Two complaints have been filed against Rep. Tom Malinowski (D-NJ) after reports surfaced that he bought securities at low prices, then profited after their value soared during the pandemic — and allegedly did not properly disclose his actions. He also reportedly sold shares before they plummeted. In April 2020, Malinowski, who served as Assistant Secretary of State for Democracy, Human Rights and Labor with the Obama Administration starting in 2014, told MSNBC, “This is not the time for anybody to be profiting off of selling ventilators, vaccines, drugs, treatments, PPE (personal protective equipment), anywhere in the world,” as the Associated Press noted. “Since early 2020, Malinowski has bought or sold as much as $1 million of stock in medical and tech companies that had a stake in the virus response, according to an analysis of records by The Associated Press,” the news agency reported. “The trades were just one slice of a stock buying and selling spree by the congressman during that time, worth as much as $3.2 million, that he did not properly disclose.” President George W. Bush’s ethics attorney Richard Painter told AP, “It boggles my mind why he’s doing it.
