US Senator Madison Corthorn will speak at a rally hosted by former US President Donald Trump in Selma, North Carolina, USA, on April 9, 2022.
Erin Seagull | Reuters
Republican senators called on Congress on Wednesday to investigate his GOP colleague, Congressman Madison Corthorn.
“Insider trading by Congressmen is a serious betrayal of their oath, and Congressman Corthorn has explained to North Carolina citizens,” Senator Thom Tillis wrote on Twitter.
“We need a thorough and bipartisan investigation into this issue by the House Ethics Board,” North Carolina Senator tweeted.
Tyris’s tweet is already agitating the strong pressure Corthorn was facing from within his party. 26-year-old freshman recent comments And other issues — on Tuesday Equipped with a pistol at the airport — He was controversial as the Republicans sought to regain control of the majority of the House of Representatives in the midterm elections.
Last month’s Tyris Approved Cawthorn’s main challengerAnd the Super PAC, tied to Tillis, reportedly spent more than $ 300,000 on advertising that attacked Cawthorn.
A Cawthorn spokesman did not immediately respond to CNBC’s request for comment.In an Instagram post on Tuesday night, Cawthorn accused Senator Rino and the facility’s pawn. [who] I want to go back to the previous day [former President Donald] Playing cards. “
Government watchers Washington Examiner Cawthorn may have violated federal insider trading laws that limit investors from profiting from non-public information.
Cawthorn is publicly proud of holding the Let’s Go Brandon coin, a cryptocurrency that got its name from a conservative meme that mocked the president. Joe Biden..
James Koutolas, a lawyer and fund manager described as co-founder of the company in an investor proceeding, posted a photo on Instagram on December 29 at a party with Cawthorn and another co-founder of cryptocurrencies, Erik Norden. I posted it.
Cawthorn’s official Instagram account commented on the photo: “Tomorrow I’m going to the moon!”
The next day, December 30, NASCAR driver Brandon Brown’s racing team publication Let’s Go Brandon Coin was signed as a key partner of the team for the 2022 season. Koutoulas is quoted in a press release.
According to news reports, the value of Brandon’s coins has skyrocketed by more than 75% since the announcement, bringing the total value of all coins in circulation to over $ 570 million. A few days later, NASCAR was denied Sponsorship agreement, and by February Coin price It plummeted.
The event timeline suggests to some watchdog groups that Cawthorn may have had private knowledge of the deal with Brown at the time of the Instagram post on December 29th. ..
“It certainly frowns,” said Jordan Liebowitz, a civilian spokesman for Washington’s responsibility and ethics, in a telephone interview with CNBC.
He said it didn’t look good to Corthorn, adding that lawmakers’ actions could raise ethical issues, even if they didn’t violate the law.
“We tend to want government representatives to act at a higher level. Even what looks like financial fraud can be as bad as fraud itself,” he said. Told. “At least Cawthorn has optical problems and, in the worst case, potential legal problems.”
Koutoulas accused Public Citizen of being a “generous scam directed at Cawthorn” after the group’s lobbyists said in a tweet on Tuesday night that the group’s lobbyists may have violated insider trading rules. ..
Requests for comment from Koutoulas sent through his hedge fund were not immediately returned.
In April, coin investors Class action Blame the people behind the token to coordinate the pump and dump scheme. The proceedings did not name Cawthorn as a defendant, but included several cases of him promoting the coin. Legal complaints also claim that Cawthorn and others continued to promote it after a similar version of the coin was relaunched in February.
Cawthorn has recently been soaked in hot water to drive without driving Valid licenseAnd other lawmakers Invite to orgy with drugs.. Republican house minority leader Kevin McCarthy said there was no evidence of Corthorn’s allegations.