WASHINGTON — Long Island’s Democratic Representative Tom Suozzi is facing an ethics investigation over allegations of late disclosure regarding his purchase of U.S. Treasury bills.
Between September and early November of the previous year, Suozzi (D-NY) invested in Treasury bills, totaling between $4,000 and $60,000, but did not report these transactions until almost a year later, as revealed by the Foundation for Accountability and Civic Trust (FACT), an ethics monitoring organization.
On Thursday, FACT filed a complaint against Suozzi with both the House Committee on Ethics and the Office of Congressional Ethics, asking both bodies to look into the matter.
“Violating this law is significant, particularly since Suozzi has a history of failing to file periodic transaction reports for numerous stock trades and has shown an unwillingness to comply while under investigation,” wrote Kendra Arnold, the executive director of FACT, in the formal complaint.
“Therefore, it is clear Suozzi understands the law and the need to comply, yet he has failed to do so despite previous commitments to adhere to it,” added Arnold.
According to the provisions set forth by the STOCK Act, congressional members must declare any financial transactions exceeding $1,000 within 30 days and must not extend this beyond 45 days.
Suozzi did not abide by these disclosure timelines, as the information came to light only through his annual financial disclosure, which provides a comprehensive view of lawmakers’ income, debts, and assets.
The Treasury bill transactions were executed on September 19 and 26, October 24, and November 7 of last year, according to official documents.
Over the years, numerous congressional members have been found in violation of the STOCK Act.
Recently, FACT submitted another complaint against Suozzi concerning a social media post about immigration made on an official page just before a similar post was shared on his campaign account.
FACT contended that the timing of events “strongly suggests a coordinated effort between his official and campaign teams,” which breaches House regulations.
Moreover, Suozzi had previously been accused of violating the STOCK Act with approximately 300 financial transactions recorded in 2021.
Additionally, the National Republican Congressional Committee (NRCC) raised concerns last month that Suozzi may have violated the STOCK Act through his Treasury bill transactions.
“Rep. Suozzi’s continual infractions indicate a blatant scorn for fundamental ethical guidelines,” Arnold stated to The Post. “The rules governing financial disclosure are crucial to preventing corruption, insider trading, and potential conflicts of interest; they are not simply recommendations to be disregarded.”
“Failure to adhere to these laws undermines public trust and tarnishes the integrity of the government overall. The Office of Congressional Ethics must take action to ensure accountability for Rep. Suozzi,” she concluded.
The Post reached out to Suozzi’s office for a statement.
