Gee, whatta the odds that 7 Repubs all were trading in a volatile foreign stock at the same time?:nohead::think2:
ointer:Shush()*:cripwalk:
https://www.dailykos.com/stories/20...-this-Aussie-investment-scam?detail=emaildkre
Exactly how many Republican lawmakers were in on this Aussie investment scam?
Walter Einenkel
Daily Kos Staff
Wednesday August 08, 2018 · 2:35 PM PDT
Houston Republican Rep. John Culberson, already in a tighter election than he might realize, just got outed for what might be the last time. Earlier today it was reported that Trump cheerleader and New York Republican Rep. Chris Collins was arrested and charged with securities fraud. The charges stemmed from the sell-off of an Australian biotech stock a little over a week before the obscure company crashed. Now, the Houston Chronicle is reporting that Culberson is one of six other Republicans who seem to have been involved in some of that dubious trading.
ointer:Shush()*:cripwalk:https://www.dailykos.com/stories/20...-this-Aussie-investment-scam?detail=emaildkre
Exactly how many Republican lawmakers were in on this Aussie investment scam?
Walter Einenkel
Daily Kos Staff
Wednesday August 08, 2018 · 2:35 PM PDT
Houston Republican Rep. John Culberson, already in a tighter election than he might realize, just got outed for what might be the last time. Earlier today it was reported that Trump cheerleader and New York Republican Rep. Chris Collins was arrested and charged with securities fraud. The charges stemmed from the sell-off of an Australian biotech stock a little over a week before the obscure company crashed. Now, the Houston Chronicle is reporting that Culberson is one of six other Republicans who seem to have been involved in some of that dubious trading.
Though the congressman lost $9,194 on the deal last year, the transaction would prove to be a fortuitous financial move, something he said he did "simply to cut my losses."
The Innate Immunotherapeutics stock, which Culberson sold on June 12, 2017 at about AU$7.35 a share, was worth less than five cents a share two weeks later on news of a failed clinical test for an experimental drug to treat multiple sclerosis.
He must have been pretty lucky to get out when he did. Culberson is facing a tough re-election against Democrat Lizzie Pannill Fletcher, who wants Culberson to answer some questions about his seemingly clairvoyant stock-trading abilities.The Innate Immunotherapeutics stock, which Culberson sold on June 12, 2017 at about AU$7.35 a share, was worth less than five cents a share two weeks later on news of a failed clinical test for an experimental drug to treat multiple sclerosis.
"Today's indictment raises serious questions," Fletcher said in a statement Wednesday. "Congressman Culberson must explain why he, along with a small group of Republican lawmakers, bought stock in an obscure Australian biopharmaceutical company that is at the center of an insider trading scandal. If Congressman Culberson used his position of power, along with access to material non-public information, in an effort to benefit himself personally then Congressman Culberson will have confirmed he is exactly what is wrong with Washington."
Culberson has been mum today. Maybe he’s busy worrying about those dark clouds in his crystal ball?
