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Rep. Tom Malinowski faces questions regarding his stock trading

FILE - In this March 10, 2021, file photo, Rep. Tom Malinowski, D-N.J., speaks during a hearing on Capitol Hill in Washington. Malinowski has scolded those looking to capitalize on the once-in-a-century pandemic. But the two term Democrat is not heeding his own admonition. Records show he's bought or sold as much as $1 million of stock in medical and tech companies that had a stake in the virus response. (Ken Cedeno/Pool via AP, File)

FILE - In this March 10, 2021, file photo, Rep. Tom Malinowski, D-N.J., speaks during a hearing on Capitol Hill in Washington. Malinowski has scolded those looking to capitalize on the once-in-a-century pandemic. But the two term Democrat is not heeding his own admonition. Records show he's bought or sold as much as $1 million of stock in medical and tech companies that had a stake in the virus response. (Ken Cedeno/Pool via AP, File)

FILE – In this March 10, 2021, file photo, Rep. Tom Malinowski, D-N.J., speaks during a hearing on Capitol Hill in Washington. (Ken Cedeno/Pool via AP, File)

OAN Newsroom
UPDATED 1:41 PM PT – Friday, May 21, 2021

New Jersey Rep. Tom Malinowski (D) is being questioned regarding his stock trading activity. It has been reported that Malinowski failed to disclose stock trades made during the COVID-19 pandemic which are now potentially worth millions.

According to reports on Friday, Malinowski is accused of failing to report his stock trading of more than $1 million in medical and stock shares. The Associated Press noted the lawmaker traded heavily at the beginning of last year during a period of high gains reported by many medical device companies.

It is required by law that Members of Congress disclose their investments within 45 days in an effort to crack down on insider trading. Malinowski later admitted his failure to file these financial activities upon receiving two complaints that were filed against him with the Office of Congressional Ethics.

NEW YORK, NY - AUGUST 25: A trader is reflected in a market screen on the floor of the New York Stock Exchange (NYSE) on August 25, 2015 in New York City. Following a day of steep drops in global markets, the Dow Jones industrial average rallied early in the day only to fall over 200 points at the close. (Photo by Spencer Platt/Getty Images)

NEW YORK, NY – AUGUST 25: A trader is reflected in a market screen on the floor of the New York Stock Exchange (NYSE) in New York City. (Photo by Spencer Platt/Getty Images)

 

“I don’t know that you should be buying and selling stock when the people we represent are facing what will invariably be the most horrific and challenging years of their lives,” said Rep. Abigail Spanberger (D-Va.). Spanberger added, “if you are not willing to make certain sacrifices to be in public service, then perhaps there might be a different job that’s best for you.”

The Democrat is currently campaigning for a third term, but critics say his trading scandal could potentially pose a liability with voters.

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