Energy Secretary Jennifer Granholm has violated federal law by failing to properly disclose stock sales, according to new reports.
The Stop Trading on Congressional Knowledge, or STOCK Act, requires that sales be disclosed within 45 days.
However, Granholm had nine stock sales last year totaling $240,000 in which that deadline was not met, according to Insider. Granholm disclosed the sales in mid-December, according to CNBC, which in some instances was six months past the due date.
Granholm’s stock sales involved shares of Gilead Sciences Inc., which makes the COVID-19 treatment remdesivir, as well as rideshare company Uber and Redfin, a real estate company.
??? Close enough for government work⁉️ Failed former Michigan Governor, now US Energy Secretary, failed nine times to disclose the sale of stock as required by federal law. https://t.co/bYkcErhgsc
— Rich Studley, Michigander (@rstudley) January 21, 2022
“The Department of Energy’s ethics office has certified that based on her reports, Secretary Granholm’s financial holdings are in compliance with the law,” Department of Energy spokeswoman Charisma Troiano emailed Insider, which reported on the blown deadline first.
An email to CNBC framed this differently.
“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,” Troiano told CNBC.
Granholm indicated on her December form that it was less than 30 days since she learned of the transactions.
Walter Shaub, a former director of the Office of Government Ethics, said alleging that Granholm did not know of the transactions at the time is not a good excuse.
So when is she getting fired and arrested for insider stocks buying?
Energy Secretary Jennifer Granholm violated a stock disclosure law nine times last year. https://t.co/macUeH2g20
— C.M. Robles (@brokenveteran03) January 21, 2022
“She’s saying that she only just learned of the transactions … so it’s possible the ethics officials took that statement at face value,” said Shaub, a senior fellow at the nonpartisan Project on Government Oversight.
“Why didn’t she know about the transactions at the time?” Shaub said.
In May, Granholm came under scrutiny after she sold her holdings in California-based Proterra Inc., which has been touted by the Biden administration for its electric vehicle, clearing a net gain of $1.6 million.
The sale fulfills Granholm’s obligations, the Energy Department said.
Sen. Barrasso demands IG probe Energy Sec. Granholm’s involvement with electric car companyhttps://t.co/STRGaQ03L5
— Fox News (@FoxNews) April 27, 2021
“Secretary Granholm has acted in full accordance with the comprehensive ethical standards set by the Biden administration and has completed her divestment well ahead of the time required by her ethics agreement,” spokesman Kevin Liao said in an email.
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