May 24, 2022

Administration official could have up to 9 violations of STOCK act in 2021

Secretary of Energy Jennifer Granholm has made headlines along with increased scrutiny over politicians gaining from the trading stocks. 

According to a report by The Daily Caller, the energy secretary is blaming a “clerical” error for a number of violations of the STOCK Act that governs the reporting of security transactions. 

The publication reported that Granholm had been found to have nine violations in 2021 alone, according to Insider’s first report on Thursday about the Biden administration official. 

Tow reports filed by the Office of Government Ethics on Dec. 15 and 16 detailed nine transactions that took place between Apr. 30 and Oct. 26 fell outside the 45-day window that the STOCK Act mandates government officials report their trades within.

“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,” an Energy Department spokeswoman said of Granholm’s transactions.

Conservatives have been taking a closer look at all politician’s trades in the stock market since a piece of legislation has been met with a debate that would ban lawmakers from profiting off the market while in office. 

Granholm, in particular, has been under the microscope since she was nominated for her position in December of 2020. At the time, the energy secretary sat on the board of Proterra, which is an electric vehicle company. 

The now high-ranking administration official sold $1.6 million in the company’s stock in May, in keeping with a promise she made to divest her holdings within 180 days of entering the Biden administration.

“One of the companies detailed in the transaction report, home security firm Vivint, has ties to green energy firms,” Breitbart News reported. 

“Three months before Granholm sold the stock, Vivint partnered in July with Freedom Forever, a solar energy company that installs panels on homes and apartments.”

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