Rep. Madison Cawthorn arrives to a State of the Union address by President Joe Biden at the Capitol in March. Photographer: Saul Loeb/AFP/Bloombergfound “substantial evidence” that outgoing Rep. Madison Cawthorn improperly promoted a cryptocurrency in which he had an undisclosed stake and failed to file timely disclosures about his trades, according to findings published Tuesday.
The panel ordered Cawthorn to pay $14,000 in ill-gotten gains to a charity of his choosing and $1,000 in late filing fees to the Treasury Department. In December 2021, Cawthorn bought 180 billion Let’s Go Brandon Coin for $150,000, at a below-market valuation, according to the committee’s report. Nine days later, the cryptocurrency announced that it would sponsor NASCAR driver Brandon Brown for the 2020 season,. The following day, Cawthorn sold a batch of his LGB Coin. On Jan. 4, NASCAR pulled the plug on the deal, and Cawthorn sold more of his stake. Two weeks later, Cawthorn made another sale, emptying out almost all his LGB Coin holdings.
The committee found that Cawthorn received an improper gift, improperly plugged the crypto and failed to disclose his investment in a timely manner. It was deadlocked on the question of whether he intended to profit from his promotional activities. Cawthorn also had been accused of engaging in an improper relationship with a member of his congressional staff. The ethics committee’s investigation found no evidence that had been the case. Any “sexually-themed or otherwise inappropriate comments or conduct took place” before Cawthorn was sworn in, making it beyond the panel’s jurisdiction, according to its report. Accusations of nepotism also were dismissed.was unable to reach spokespeople for Cawthorn.
how is he still getting paid ?
Holding on to it forever. It will die in my digital wallet. Let's go Brandon!
I thought we were done hearing this name. Oh fuck!
I would say it’s the responsibility of the secret service under Joe Biden to investigate fraudulent money, but unless he can blame it on trump, there would be no purpose to him.
AndresMejiaV
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