BREAKING: Democrat Slapped With Ethics Violation After Wife Received $1.5 Million In Shady Stock Payout

Liberal Democrat Jamie Raskin is accused of improperly using his position and power to enrich his family with $1.5 million.

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An ethics complaint was filed against Raskin, alleging that he failed to disclose stock shares that resulted in a massive payout to his wife.

It’s been labeled as a “shady stock deal.” The Democrat’s wife is coincidentally Joe Biden’s nominee to be the Federal Reserve’s top banking regulator. An ethics watchdog group called American Accountability Foundation filed the complaint and revealed the details of the stock payout.

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“Sarah and Jamie Raskin are career politicians who have used the system to enrich themselves, and it is time that someone holds them accountable,” Tom Jones, the founder of the American Accountability Foundation, said in a statement.

As part of her work at a Colorado-based financial technology company, Raskin’s wife, Sarah Bloom Raskin, sold 195,936 shares of Reserve Trust for $1.5 million.

“If House rules are going to mean anything, the House Ethics Committee needs to open an investigation and sanction Jamie Raskin for hiding this shady stock deal from the public,” Jones added.

The ethics complaint was filed with the Office of Congressional Ethics.

Raskin is accused of violating federal financial disclosure reporting obligations by waiting too long to report a huge stock payout that his wife.

His wife received the payout on Dec. 18, 2020, but Raskin didn’t disclose information about the transaction in August 2021.

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Lawmakers’ spouses are allowed to trade in companies or industries that their partners may help regulate. But Jamie Raskin’s failure to promptly disclose the shares that his wife sold marks a violation of the Stop Trading on Congressional Knowledge Act. The law – frequently referred to as the STOCK Act – was passed in 2012 in an attempt to increase transparency on Capitol Hill by making it illegal for members of Congress and their families to profit from inside information and requiring lawmakers to report stock trades to Congress within 45 days.

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Jamie Raskin, a prominent lawmaker who led the second impeachment trial of former President Trump, did not immediately respond to a FOX Business request for comment. But the Maryland Democrat has acknowledged the late filing and told Business Insider that the omission occurred because the transaction happened just before their 25-year-old son, Thomas, died on Dec. 31, 2020.

“We lost our son during the reporting period, and I filed the report late,” the congressman told Insider.

While the complaint from the American Accountability Foundation conceded that the Raskins had lost their son during that time period and should be “afford[ed] some latitude in meeting filing requirements,” it noted that the congressman quickly returned to his official duties in leading the impeachment charge against Trump.

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“If Representative Raskin was able to perform these official duties during this time, it is reasonable to expect that he should have been able to comply with the Periodic Transaction Report requirements during these times and not frustrate the legitimate ends of Congressional oversight by waiting nine months to disclose the sale,” the complaint said.

The oversight also comes at a pivotal moment for Sarah Bloom Raskin, who was formally nominated last month by Biden to serve as the Federal Reserve’s vice chairwoman for supervision.