Last month, Finbold exposed a startling revelation regarding US Representative John Rutherford, who allegedly violated the STOCK Act over 150 times without facing any investigation.
The STOCK Act, designed to prevent insider trading among Congress members and officials, mandates transparent disclosure of financial transactions.
Interestingly, recent findings by Finbold suggest that Rutherford may not be the sole offender, as additional US representatives are implicated in similar breaches of this crucial law.
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4 House Ethics Committee members, 191 violations
According to Quiver Quantitative, the popular trading data platform that reported on Rutherford’s violations in the first place, there are three more US House Ethics Committee Members who also breached the STOCK Act.
“In the US, there are laws that prevent felons from voting. However, politicians who have broken anti-insider trading laws are allowed to serve on the House Ethics Committee. We have caught four of the committee’s ten members violating the STOCK Act.”– Quiver Quantitative wrote in its post on X.
These four individuals include Rutherford, David Joyce, the Committee’s chairman Michael Guest and Deborah Ross.
Rutherford, who serves as the US Representative from Florida’s 5th congressional district, has 152 violations, followed by Joyce with 136. Joyce has been serving in the House of Representatives for Ohio’s 14th congressional district since 2013.
Michael Guest, US representative and chairman of the House Ethics Committee has 2 violations of the STOCK Act, while Deborah Ross breached it once.
What makes these revelations particularly egregious is that all of the aforementioned politicians are members of the House Ethics Committee – tasked with enforcing the very act he is accused of violating.
The committee’s primary role is to investigate and adjudicate allegations of misconduct or violations of ethical standards by House members, ensuring the integrity of the legislative process and maintaining public trust in the government.