N.Y. Democratic Rep. failed to report nearly $900,000 in stock trades: ethics complaint
"[H]is delay was so egregiously extreme it was impossible for the public to monitor those trades," FACT wrote.
An Office of Congressional Ethics complaint filed Monday shows Rep. Tom Suozzi, D-N.Y., failed to properly disclose more than $885,000 in stock transactions as required by law.
Suozzi did not report at least 31 stock transactions from September 2017 to June 2021 until last month, the complaint claims.
The congressman's trades "involved 9 companies that are either clearly regulated or affected by Congressional action, such as Apple, Altria Group, Boeing, BlackRock, Caterpillar, Citigroup, Cisco Systems, General Electric, IBM, and Verizon Communications," the Foundation for Accountability and Civic Trust (FACT) wrote in a letter to the Congressional Ethics office.
Representatives must legally report any financial transaction of $1,000 or more within 30 days after they occur. They also must be included in annual congressional reports.
Suozzi did not respond to a request for comment from The Epoch Times, which originally reported on the complaint.
"Suozzi not only failed to make timely and accurate disclosures, but his delay was so egregiously extreme it was impossible for the public to monitor those trades," FACT wrote to the ethics office.
The New York Democrat was the subject of a September 2021 complaint for allegedly failing to disclose about 300 trades, FACT noted. The reportedly undisclosed trades were discovered by the Campaign Legal Center, which found that his transactions may have valued at up to $11 million, Epoch reported.
If found to be in violation of disclosure laws, members of Congress face up to one year in prison and a fine of more than $60,000, the Campaign Legal Center stated.