Hillary Clinton’s 2016 campaign manager John Podesta has found himself in hot water this week after it was revealed he may have violated federal law by failing to disclose the receipt of 75,000 shares of stock from a Kremlin-financed company when he joined the Obama White House in 2014.
Podesta was originally given 100,000 shares of stock options by Joule Unlimited Technologies, which is financed in part by a Russian firm, in 2010 when he joined that board along with its Dutch-based entities: Joule Global Holdings, BV and the Stichting Joule Global Foundation. The Daily Caller reported that when Podesta announced his departure from the Joule board in January 2014 to become President Obama’s special counsellor, the company officially issued him 75,000 common shares of stock.
The Schedule B section of the federal government’s form 278 mandates that government officials must “report any purchase, sale or exchange by you, your spouse, or dependent children…of any property, stocks, bonds, commodity futures and other securities when the amount of the transaction exceeded $1,000.” However, Podesta never stated that he had received any stock from the company on his Schedule B form.
Both liberals and conservatives alike are now calling for Podesta to be punished for breaking the law.
“Well Podesta should certainly have been more upfront in filling this out. Clearly, it should have been fully disclosed,” said Craig Holman, a lobbyist for the liberal group Public Citizen which was founded by Ralph Nader. “That’s the point of the personal financial disclosure forms, especially for anyone entering the White House,” he told TheDCNF in an interview.
“If the transfer of stock took place, it had to be disclosed,” added former U.S. Attorney Joseph DiGenova in an interview. “If he didn’t, clearly it’s a violation.”
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