Hey guys, remember that time Wilbur Ross shorted the Russian stock Navigator Holdings when he was contacted by the New York Times about the story they were writing about his ties to that company?
It seems the Dims have sent a letter to the SEC asking them to investigate it.
Democratic Sens. Elizabeth Warren (Mass.), Richard Blumenthal (Conn.), and Rep. Elijah Cummings (Md.) asked SEC Commissioner Jay Clayton in a letter released Thursday to probe Ross’s sale of shares of a shipping company with ties to the Russian government.
Ross shorted shares of Navigator Holdings after he learned that reporters at the New York Times were preparing to write a story about his ties to the Russian-linked company, according to Forbes.
The Times reported that Ross placed his bet against the stock price three days after the paper had contacted him about the story, and five days before the story was published. Navigator’s share plummeted soon after the Times ran the story, netting Ross between $100,000 and $250,000.
We should note that Ross still has not released his amended Financial Disclosure forms mentioned in the first link.
Commerce Department spokesman James Rockas told the The Hill in a Wednesday email that Ross “continues to follow the guidance of Department of Commerce ethics officials to ensure compliance with federal laws and regulations,” and that “ethics officials have certified that the transactions documented are in compliance with federal ethics requirements.”
“Ethics officials have certified that the transactions documented are in compliance with federal ethics requirements.” Now THAT’s a phrase that in this administration has nuances!
Anyway, I’m sure that there is more to come in the Saga of Wilburrr Ross.