Raja Krishnamoorthi Wants Commerce Secretary to Explain His Mistruth and Missing Fortune
Congressman Raja Krishnamoorthi (D-IL) wants Commerce Secretary Wilbur Ross to appear on Capitol Hill to explain some conflicts of interest. Ross promised during his confirmation hearings that he would divest from almost all his holdings upon entering government. However, for most of last year, Ross maintained stakes in companies co-owned by the Chinese government, a shipping firm tied to Vladimir Putin’s inner circle, a Cypriot bank reportedly caught up in the Robert Mueller investigation and a huge player in an industry Ross is now investigating. Forbes reports Ross’ family continues to have an interest in these holdings. Rather than dump them all, the Commerce Secretary sold some of his interests to Goldman Sachs -- and, according to Ross himself, put others in a trust for his family members. He continued to deal with China, Russia, and others while evidently knowing that his family’s interests were tied to those countries. Krishnamoorthi wrote to House Oversight Committee Chairman Trey Gowdy (R-SC) to urge him to convene hearings on Secretary of Commerce Wilbur Ross’s potential conflicts of interest, insider trading, and violation of a sworn statement to federal officials in the wake of these new revelations. “Last fall, five days before reports surfaced that Secretary Ross had financial ties to a shipping company named Navigator Holdings, which has direct ties to a Putin confidant, Secretary Ross shorted his stocks and turned a profit on this news story,” Krishnamoorthi wrote. “Further reporting has shown that it is more probable than not that Secretary Ross had prior knowledge that a report would expose his investments prior to his decision to short sell his shares in the firm.” Ross’ office has not yet responded to the Forbes report. More here.