The House Ethics Committee directed Rep. Madison Cawthorn to pay nearly $15,000 to a charity after finding 'substantial evidence' that he improperly promoted a cryptocurrency while in Congress.
that it did not find evidence of improprieties between Cawthorn and the staffer.
However, the subcommittee that conducted the probe said Cawthorn violated rules against conflicts of interest surrounding the cryptocurrency and directed him to pay $14,237.49 to an appropriate charitable organization by Dec. 31. It also found that Cawthorn, 27, failed to file timely reports to the House"disclosing his transactions relating to the cryptocurrency." And even though the panel determined that he did not knowingly fail to file the disclosures in a timely fashion, he was still required by law to pay $1,000 to the Treasury Department in late fees.
article that named “multiple watchdog groups” suggesting the first-term lawmaker may have violated insider trading laws in an alleged cryptocurrency scheme.The subcommittee which reviewed documents and interviewed Cawthorn and six other witnesses in connection with the allegations, said it did not find evidence that Cawthorn engaged in an improper relationship with a member of his staff"and recommended no further action with respect to that allegation.
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