Federal Politics

Published — February 7, 2019

Watchdog: Wilbur Ross should face investigation for ‘apparent violations’ of federal law

Commerce Secretary Wilbur Ross listens to a question from a member of the media outside the White House in Washington on Dec. 12, 2018. (AP/Andrew Harnik)

Did the Commerce Department secretary violate financial disclosure or conflict of interest statues?

Introduction

The Commerce Department’s inspector general should investigate Commerce Secretary Wilbur Ross for “apparent false statements” in connection with his personal financial holdings, a nonpartisan watchdog organization contends in a newly filed complaint.

The complaint from the Campaign Legal Center is rooted in Ross’ acknowledgement, first reported in December by the Center for Public Integrity, that he repeatedly told federal ethics officials he had divested BankUnited stock — even though he had not in fact done so.

Ross said he reported the BankUnited stock sold “based on a mistaken belief that the agent executed my sell order on that date.” The stock was worth $15,000 or less, according to the disclosure.  

The disclosure represented the most recent in a series of inaccuracies and omissions in Ross’ financial disclosures, all of which Ross has said were caused by inadvertent errors.

“Maybe one time, two times we believe this is a mistake, but at this point, we need a little more from Secretary Ross than, someone was supposed to sell this stock for me,” Campaign Legal Center ethics counsel Delaney Marsco said. “It’s no longer an acceptable excuse from someone we trust with an insane amount of power and who is supposed to be a very sophisticated investor.”

Ross said in a statement to the Center for Public Integrity that his latest transaction report, showing the sale of the BankUnited stock, corrected the earlier filings.

“As I explained in that report: These shares, issued as directors qualifying shares in 2012 were held in book entry form by Bank United’s stock agent. I previously reported selling the shares on May 31st, 2017 based on a mistaken belief that the agent executed my sell order on that date,” Ross wrote.

Ross said he had owned 100 shares of BankUnited stock.

The new Campaign Legal Center complaint filed today over the BankUnited stock is a supplement to a previous complaint the nonprofit watchdog filed in August.

The August complaint cited reporting by the Center for Public Integrity and others in calling  for an extensive investigation into Ross’ handling of his complex financial holdings while in office, including whether he had violated conflict of interest laws. The Commerce Department inspector general has not publicly responded to the previous complaint.

In August, in response to the original complaint, Ross’ lawyer, Theodore Kassinger of the firm O’Melveny & Myers, said Ross “has not violated any conflict of interest law or regulation.”  

The new filing additionally asks the Commerce Department inspector general to review whether Ross’ continued ownership of the BankUnited stock past the point when he was supposed to sell it led to any conflict of interest violations.

Ross was supposed to sell the BankUnited stock within 90 days of his confirmation as Commerce Department secretary — by the end of May 2017, according to his ethics agreement.

In May 2017, Ross filed a transaction report saying the BankUnited stock had been sold.

In June 2017, when he certified that he had complied with his ethics agreement, he said there had been an “unanticipated delay” in the sale of some holdings, including the BankUnited stock, but that the divestment had been completed.

Then, in August 2018, Ross filed a new financial disclosure report. It covered his finances through 2017 and again stated he had sold the BankUnited stock in 2017.

In fact, Ross later disclosed, he actually sold the stock in October 2018. The Office of Government Ethics has not yet certified Ross’ August 2018 disclosure report or the transaction report disclosing the sale of the BankUnited stock, but released both in response to records requests from the Center for Public Integrity.

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SOUTH JERSEYTed SiroisMark SullivanTom LarkinAnonymous Recent comment authors
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Mark Sullivan
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Mark Sullivan

Trump needs to conduct these activities because the entire MSM media, excluding Fox, is campaigning against him 24/7/365.

Didn’t Monica’s boyfriend’s wife and various criminal enterprises outspend Trump by almost 2-1?

CapitalistRoader
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CapitalistRoader

Why wouldn’t he get an early start on fund raising? Hillary outspent him two-to-one in 2016. The Dem’s are the party of big money. The President knows this and is attempting to get a jump on it. Of course the Dem candidate will outspend him in 2020 so it’s only rational that he starts fund raising now.

George Young
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George Young

Oh brother. We just 8 years of the Campaigner – in – Chief. Where was this journalistic rectal thermometer then. Just another article about 2000 words too long that merely takes another slap at Trump for something he far from initiated.

j stevenson
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j stevenson

The big difference between Trump and all the rest is his refusing to accept funds from lobbyists, so they don’t have the White House access they are used to. These are the donors who buy the presidency and are as pixxed off that he won the election as are the media and the Dems. Lobbyists have never been shut out of the WH and Trump has told them he is not for sale.

jan v
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jan v

all the lobbyists are running all our government agencies and all the career civil servants who know how to run the country have been fired. YOU think this is a good thing ? what a crock…

thomas alessi
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thomas alessi

I am for Trump

Anonymous
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Anonymous

Trump needs to be impeached and tossed in prison. Then have the key thrown away so he will never be free. Then he can see how it feels not to have freedom.

Mark Sullivan
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Mark Sullivan

Thank you for the usual insightful leftist low IQ Snowflake response.

barney
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hes not imprisoning them hes sending them back to their country chill tf out

SOUTH JERSEY
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SOUTH JERSEY

WHY DONT YOU HAVE FREEDOM?

Tom Larkin
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Tom Larkin

First, something positive. I was happy to learn of empirical information in article. BUT, the article was so slanted against President Trump as to be deemed fake news (“Perhaps Trump just lied.” (Two different issues)). The article mentions that President Trump raised over $67 million, but ended 2018 with $19 million. President Trump spent over $40 million 2016 and 2017. President Trump conducted 57 political rallies. The article notes the hats and T-shirts sold, but NEVER MENTIONS THE INCREASE IN THE NUMBER OF REPUBLICAN SENATORS during a mid-term election that lost the House and the number of political rallies in… Read more »

Ted Sirois
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Ted Sirois

At least Trump is getting donations from willing donors. Fresh from his first election, Obama used billions of our children’s tax dollars to save thousands of union jobs in the car industry and bailed out the banks and many Wall Street businesses. This secured his source of reelection funds for his reelection four years later.

South Jersey
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South Jersey

TRUMP 2020; IS AN AMAZINGLY SMART MAN! VERY ORIGINAL & CREATIVE. I AM HAPPY TO HAVE HIS AS POTUS.

SOUTH JERSEY
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SOUTH JERSEY

THIS ARTICLE WAS OBVIOUSLY WRITTEN BY, A TRUMP-HATE-GROUP. THAT FEELS; IT IS NOT NORMAL TO BE SUCCESSFUL WITH YOUR OWN BRAND NAME. WHEN, IF FACT, IT IS NORMAL! >>>>> THIS IS >>> FAKE NEWS!!! <<<< ie: A PACK-OF-LIES; SPUN INTO; DEFAMATION OF CHARACTER. FOR A SINISTER-AGENDA OF; FASCIST DEMOCRATIC SOCIALIST, COUP D'ETAT

David
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David

Are you on some kind of drugs? Writing in caps makes me think that you are grumpy old fart or a uneducated hillbilly.