White House Official Didn’t Report $250,000 In Stock Trades

(PresidentialInsider.com)- Jennifer Granholm has become the latest White House official who has been accused of violating the STOCK Act.

Granholm, President Joe Biden’s energy secretary, has allegedly violated the act, which is a federal law that requires all lawmakers, officials, staff and all close relatives to report any commodity and stock trades in a certain amount of time.

According to a Business Insider report, Granholm didn’t abide by that law. Unfortunately, she isn’t the only one, either. According to that same report, there are 54 Congress members who have been found to violate the STOCK Act.

Despite this widespread violation, House Speaker Nancy Pelosi as refused to work to change laws that dictate how Congress members are allowed to invest.

According to Business Insider’s reporting, Granholm sold $240,000 in stock from April through October of 2021. However, she didn’t report those sales properly to the Office of Government Ethics until December 15 and December 16.

The STOCK Act requires that individuals must report the transactions either 30 days after they are notified, or 45 days after they make the transaction.

In addition to the fact that the trades weren’t reported in a timely manner, Granholm’s trades themselves were a little suspicious. As the report from Business Insider noted:

“Granholm’s stock sales involved shares of biopharmaceutical firm Gilead Sciences Inc. — a major government contractor and maker of COVID-19 treatment remdesivir — mobility service Uber, and real estate company Redfin.”

When filing her disclosure forms, Granholm claimed she wasn’t notified of those trades more than 30 days before then. But, every one of the trades happened more than 45 days before she filed the disclosure forms. In some of those cases, the trades happened multiple months before she filed the forms.

The Department of Energy tried to come to the support of its secretary recently. Charisma Troiano, a spokeswoman for the department, emailed a statement to Business Insider that read:

“The Department of Energy’s ethics office has certified that based on her reports, Secretary Granholm’s financial holdings are in compliance with the law.”

She also sent another memo to CNBC that read:

“This was an inadvertent clerical oversight on reporting stock sales that ethics officials previously determined did not pose a conflict in her role as Energy Secretary and the Secretary paid the late filing fee. The Secretary remains focused on delivering an equitable clean energy future that will bring cheaper power, cleaner air and more good-paying jobs for more Americans.”

So, was she in compliance with the law — as the memo to Business Insider claims — or was she not and, therefore, had to pay a fine — as the memo to CNBC claims?

It’s very fishy, at the least, that a spokeswoman for the Energy Department would say two conflicting things to two different media outlets. But, then again, maybe we all shouldn’t be shocked that a high-up official in the Biden administration is trying to hide something.