New Jersey Rep Tom Malinowski ran on a platform that stressed going after businesses and people who0 profited from the pandemic.
Once in office, he profits from the pandemic, making millions of dollars and failing to include that in his financial closure report.
Being in Congress means you have inside information and that means you know what stocks to buy and which ones to sell.
And evidently, Malinowski was good at it, raking in millions.
During his campaign Malinowski said:
“This is not the time for anybody to be profiting off of selling ventilators, vaccines, drugs, treatments, PPE, anywhere in the world.”
“A report by Market Watch blasted shows that the Democrat bought and sold stocks from those same categories using his inside information:
“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 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.
The issue of congressional stock trading took on a new urgency last year when at least three senators were the subject of inquiries about whether they made financial decisions based on insider information. Though no one was charged, their dealings stirred outrage and highlighted the limitations of the Stock Act, a 2012 law intended to curtail stock market speculation by lawmakers.
Malinowski’s trades received little attention at the time. Yet his subsequent failure to report his trading activity to Congress as required by law, which was first reported by Business Insider, have made him the latest to face scrutiny, with two complaints filed against him with the Office of Congressional Ethics.”
To put the icing on the cake, Malino0wski shorted stocks during his investment binge. In shorting stocks, you are betting the price per share is going to go down. You sell shares you don’t have and when the price goes down, you buy the number of shares you shorted.
With his inside information, Malinowski knew which stocks to buy and which ones to short.
