George Santos’ potential replacement also has financial ethics issues
The U.S. House of Representatives has formally expelled Rep. George Santos (R-NY) because of numerous alleged financial fraud and crimes and numerous congressional ethics violations.
But Santos’ potential replacement — himself a one-time congressman — has a history of financial ethics issues, too.
Former Rep. Tom Suozzi (D-NY) violated a federal conflicts-of-interest and financial disclosure law at least three times while in Congress, according to reporting from NPR and Business Insider.
Suozzi announced in October his plans to run for Santos’ seat in New York’s 3rd Congressional District. Suozzi previously held the seat from 2017 until 2022, when he unsuccessfully ran for New York governor.
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In May 2022, Suozzi disclosed several weeks past a federal deadline 10 stock trades in companies such as auto manufacturer General Motors, technology company NVIDIA Corporation and aerospace and defense company Boeing, Business Insider reported. Total value: between $171,000 and $515,000.
The Stop Trading on Congressional Knowledge (STOCK) Act requires government officials, including members of Congress, to disclose within 45 days most purchases, sales and exchanges of stocks, bonds, commodity futures, securities and cryptocurrencies.
Suozzi previously violated the STOCK Act in March 2022 when he reported 31 stock trades, worth up to $885,000, as much as four years late, Business Insider reported.
Prior to that, NPR reported that the nonpartisan government watchdog group, Campaign Legal Center, found that Suozzi failed to properly report about 300 transactions between 2017 to 2020, valued between $3.2 million and $11 million.
“The Congressman's investments are managed through independent advisors with discretion over all transactions. Every transaction has been reported on his annual financial disclosure and all proper periodic disclosures will be filed on a going forward basis,” a spokesperson for Suozzi told NPR at the time.
While Suozzi’s botched disclosures were in clear violation of the law, the House Committee on Ethics declined to recommend penalties for Suozzi and two Republican members of Congress in July 2022 regarding wrongdoing in relation to the late financial disclosures. The House Committee on Ethics said there "was not clear evidence" of “knowing or willful” violations of the STOCK Act, Business Insider reported.
“The committee has worked with each member, and they have all made diligent efforts to take appropriate remedial actions and ensure their continued compliance with applicable financial disclosure requirements,” said a statement from the House Committee on Ethics.
A Nov. 16 report from the House Committee on Ethics that reinvigorated expulsion efforts against Santos noted that he never filed his annual financial disclosure report as required by federal law. Ten other members of Congress were late in filing their financial disclosure reports as well, Raw Story reported.
Suozzi’s campaign did not respond to Raw Story’s request for comment.
Throughout 2023, Raw Story has identified at least 37 members of Congress in violation of the STOCK Act.
New York Gov. Kathy Hochul (D-NY) will need to call for a special election within 10 days of Santos vacating the seat, which would happen in early 2024.
Numerous other contenders are expected to join Suozzi, who is expected to be the party favorite, in the race for Santos’ seat, including 2022 Democratic nominee Robert Zimmerman, 2016 Republican nominee and state senator Jack Martins, Republican Mike Sapraicone, a retired New York Police Department detective, Democrat activist Zak Malamed, Democrat State Sen. Anna Kaplan, Nassau County legislator Josh Lafazan and health care CEO Austin Cheng, Politico reported.
“The madness in Washington, DC, and the absurdity of George Santos remaining in the United States Congress is obvious to everyone,” Suozzi said in a statement announcing his re-election campaign in October.