Joe Biden’s Energy Secretary Jennifer Granholm violated federal law that requires disclosure of specific stock trades. Business Insider reported on Thursday that Granhold did not disclose trades worth hundreds of thousands of dollars last year.
Between last April and October, Granholm made at least nine separate stock transactions that she did not disclose until months after the legal deadline for disclosure. The trades included companies that saw their stock values soar during the COVID-19 pandemic, like Gilead Sciences.
Stop Trading requires the federal disclosures on Congressional Knowledge (STOCK) Act. The law requires many federal officials, including the Energy Secretary, to file forms disclosing certain transactions within 45 days of completing the trade. The law’s requirements apply regardless of whether an official claims they did or did not know about a covered transaction.
Granholm reportedly disclosed on December 16 that it showed several stock transactions dating back to last April. The Washington Free Beacon reported that its analysis shows that the December filing constitutes the first disclosure of significant sales that occurred much more than 45 days before the filing.
Granholm’s term as Energy Secretary has been troubled by her financial dealings. Since becoming secretary, she has held millions of dollars worth of stock in Proterra. That company has been at the center of controversy about its production of electric vehicle batteries and its heavy promotion in the market by the Biden Administration.
Granholm eventually got around to disclosing the sale of hundreds of thousands of shares at a claimed profit of $1.6 million. However, she has continued to refuse to disclose publicly the identity of the person or entity that bought her stock interest.
Department of Energy spokesperson Charisma Troiano said that Granholm’s failure to comply with the STOCK Act was an “inadvertent clerical oversight” and did not “pose a conflict” in her official government role. Troiano added that Granholm remains focused on giving America an “equitable clean energy future.”