Rep. Jasmine Crockett, a first-term Democrat from Texas and rising member of the progressive “Squad,” is reportedly facing scrutiny for allegedly concealing ownership of stock in at least 25 companies from her congressional financial disclosures, according to a new complaint.
The allegation raises questions about whether the outspoken lawmaker violated federal ethics laws designed to prevent members of Congress from hiding potential financial conflicts of interest.
As a Texas state legislator in 2021, Crockett reported a sizable investment portfolio with stakes in 28 companies, including major players in the pharmaceutical, fossil fuel, technology, automobile, and marijuana industries. But when she submitted her federal disclosure forms to Congress for the same year, she omitted 25 of those investments—among them companies that could directly benefit from legislation she has introduced or supported since entering Congress.
The Foundation for Accountability and Civic Trust (FACT), a nonpartisan government watchdog group, filed a complaint with the Office of Congressional Conduct alleging that Crockett’s omissions may constitute violations of the Ethics in Government Act. That law requires members of Congress to file complete and accurate financial disclosures and imposes criminal penalties for false or misleading filings.
“When Members of Congress fail to accurately and fully disclose their financial interests, it undermines the integrity of our government and erodes the public’s trust,” FACT executive director Kendra Arnold told the Free Beacon. “The disclosure laws are not optional. They are essential safeguards that ensure lawmakers are not using their positions for personal financial gain. Given the inconsistencies in Rep. Crockett’s filings, an immediate investigation is warranted.”
Under current law, House members must disclose any stock holdings exceeding $1,000 in value. Crockett’s state filings show she owned fewer than 100 shares in each company, but FACT noted that at least two of the undisclosed stocks—T2 Biosystems and Red Hill Biopharma—were valued at over $1,000 per share during 2021. “This means that so long as Crockett owned a single share of these stocks, regardless of whether she sold them or continued to own them at the end of 2021, she was required to disclose her ownership during the year,” the group wrote in its complaint.
If investigators find Crockett knowingly failed to disclose those holdings, she could face civil penalties of up to $50,000 or even a year in prison.
Some of Crockett’s undisclosed investments appear to conflict with her public image and legislative record. Her shares in marijuana companies such as Aurora Cannabis and Corporate Cannabis could raise conflict-of-interest concerns, given her sponsorship of legislation that would decriminalize marijuana at the federal level. Likewise, her ownership of ExxonMobil stock—despite her alignment with climate activists and her party’s criticism of the fossil fuel industry—has raised eyebrows among ethics watchdogs.
FACT filed its complaint with the Office of Congressional Conduct, the independent body that reviews allegations of misconduct by House members. If the office finds that Crockett’s omissions violated the Ethics in Government Act, it could refer the matter to the House Ethics Committee for further action.
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