MP Malinowski ‘worried’ about Paul Pelosi’s stock trading, despite facing his own ethics review

Representative Tom Malinowski, DNJ, said he was “concerned” about Paul Pelosi’s recent stock activity despite facing an ethics review for stock trades he made between 2019 and 2021.

During a town hall telephone last week, a voter asked Malinowski to weigh in on House Speaker Nancy Pelosi’s husband, who has controversially bought more than $1 million in Nvidia, a computer chip company, just weeks before a congressional vote that would Provides huge subsidies in industry. House Speaker Pelosi denied any knowledge of the purchase.

“I’m worried about that,” Malinowski said of buying Paul Pelosi’s stock. “Again, it is not for me to judge whether this is a coincidence or something more. But I will tell you that I firmly believe that members of Congress should not buy or sell stock while in Congress. I am one of the sponsors of legislation that would prohibit That’s in the future.”

House Speaker, Nancy Pelosi, with her husband, Paul Pelosi, attend Holy Mass for the Mass. Peter and Paul led by Pope Francis in St. Peter’s Basilica. (Stefano Costantino/SOPA Images/LightRocket via Getty Images/Getty Images)

He continued, “I tried to set a good example myself by putting my retirement savings in a blind trust so I wouldn’t know what to invest in.” “I believe that every member of Congress with investments—speaker included, including the speaker’s wife, or husbands in general—should follow this rule. There shouldn’t even be a conflict of interest, and I can understand why there is a conflict emerging in interests in this case.

Pelosi says her husband did not make stock purchases based on the information she gave him

Malinowski is facing ongoing review by the House Ethics Committee for alleged violations of the stock law after failing to disclose dozens of personal stock deals totaling $3.2 million, according to multiple reports.

According to the Associated Press, since the start of the COVID-19 pandemic, Malinowski has traded up to $1 million in stock in medical and technology companies that have a stake in responding to the pandemic.

Representative Tom Malinowski

Representative Tom Malinowski speaks at a press conference about the Gateway Tunnel project at the Amtrak building at Penn Station on June 28, 2021. (Liv Radin/Pacific Press/Light Rocket via/Getty Images)

After the review was first launched by the Congressional Ethics Office in March 2021 after two regulatory complaints, Malinowski continued to make huge stock trades. Over the course of April 2021, the New Jersey Democrat bought and sold hundreds of thousands of dollars in stock in a glut of companies, including food delivery app DoorDash and home exercise equipment company Peloton, according to financial disclosures.

A third ethics complaint was filed against Malinowski in July 2021 over the April deals. Malinowski has since paid a $200 fine for the violations, but he did not put his assets into a blind trust until August 2021, at least five months after the first report of his alleged violations of the stock law.

New Jersey Democrat Tom Malinowski

Representative Tom Malinowski speaks as members of Congress share their memories of the first anniversary of the January 6 attack on the US Capitol. (Graeme Jennings Paul/Getty Images/Getty Images)

In a statement to Fox News Digital, Malinowski’s spokesperson, Nari Kitodat, said the review found “there was no inappropriate behavior” by the congressman.

“The Congressional Ethics Office found no inappropriate behavior on the part of Congressman Malinowski, other than the submission of overdue papers,” she said. “Congressman Malinowski has already gone above and beyond the requirements of the law by putting his life savings into a qualified blind trust – which is why he also supports and sponsors the ban on trading member stocks.”

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“The public needs to trust their representatives, and our current system of financial disclosure is primed for partisan exploitation. Instead of trying to operate within a system we know is broken, let’s put in place simpler requirements that eliminate even the indication of wrongdoing,” she added.

Malinowski, who in 2018 became the first Democrat in four decades to win elections in New Jersey’s traditional red 7th congressional district, and who was re-elected in 2020 by a very narrow margin, is seeking a third term in a redrawn district. More favorable to Republicans through the once-a-decade redistricting process.

Paul Steinhauser of Fox News and Houston Kean contributed to this report.

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