Roll Call: Latest News on Capitol Hill, Congress, Politics and Elections
July 31, 2014

Congressman Disgorges IPO Stock Profits

A U.S. Congressman who profited from several stock transactions involving initial public offerings (IPOs) has disgorged the profits to the U.S. Treasury.

After contacting the House Ethics Committee, Rep. Beto O’Rourke, D-Texas, told his broker to sell all remaining shares of stock involved with IPOs, and sent the $7,136 in profits to the U.S. Treasury, according to an article in the El Paso Times.

The House Ethics Committee had issued a warning about participating in initial public offerings, since many of those transactions are not available to the general public.

O’Rouke had disclosed his IPO transactions in periodic reports of stock transactions, as required by the Stop Trading On Congressional Knowledge (STOCK) Act.

View earlier Political MoneyLine article on O’Rourke’s stock transactions.

To search detailed money-in-politics databases, visit Political MoneyLine.

  • 35years

    Isnt this the same thing that Nancy Pelosi was crying about last year? She nows maks a fortune on “insider” information and no one does a damm thing about it.

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