Tag: corruption

Vaccine Execs Rake In $1 Billion In Stock Sales As Positive Headlines Boost Shares

With the race to find a vaccine for COVID-19 in full effect, biotech executives and other insiders from at least 11 companies have made hand over fist – raking in over $1 billion in stock sales after announcing positive developments, according to the New York Times.

In some cases, company insiders are profiting from regularly scheduled compensation or automatic stock trades. But in other situations, senior officials appear to be pouncing on opportunities to cash out while their stock prices are sky high. And some companies have awarded stock options to executives shortly before market-moving announcements about their vaccine progress. -NYT

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REP. LORI TRAHAN LIED ABOUT CAMPAIGN FUNDS. THE HOUSE ETHICS COMMITTEE CLEARED HER ANYWAY.

LAST DECEMBER, the independent Office of Congressional Ethics released a report concluding that there was “substantial reason” to believe that freshman Rep. Lori Trahan had broken campaign finance laws in the final days of her tight Democratic primary in Massachusetts. OCE then kicked it over to the House Ethics Committee, which is run by a bipartisan panel of Trahan’s colleagues. They’ve now concluded their own investigation, with a starkly different finding: Trahan was cleared — despite not having cooperated with the OCE investigation nor providing key documentation to support her claims.

In 2018, Trahan faced a hotly competitive primary for Massachusetts’ 3rd Congressional District, in the Boston suburbs, which she ultimately won by just 155 votes. In the final days of the campaign, Trahan had deposited $300,000 into her coffers that was classified as a personal loan, which she used to launch a TV blitz that, given the narrow margin, most likely swung the election.

By the time Trahan filed a personal financial statement, her records suggested that she did not have enough assets to have been able to make the loan to her campaign, as revealed by a Boston Globe investigation. Where, then, had the money come from?

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