analyzed over 31,000 financial disclosure forms dated between 2016 and 2021, which included information on over 315,000 trades in stocks, bonds and funds by officials and their immediate families. These documents showed that over 2,600 senior officials across 50 federal agencies have disclosed owning stock in companies that have lobbied the agency that they work in. This represents more than one in five senior federal executive branch officials, the report found.
Nearly one in three Environmental Protection Agency officials have reported owning investments in companies lobbying the agency, holding up to $2 million in shares in fossil fuel companies on average yearly between 2016 and 2021. Donald Trump official Michael Molina, for instance, a senior adviser to the deputy EPA administrator, had owned oil and gas stocks that could have benefited from Trump’s policies favoring fossil fuel companies.
The timing of these trades is suspect, potentially suggesting insider trading. The report found that more than 60 officials had traded stocks in companies just before their agencies announced actions against them. One Defense Department official, Greg Zacharias, had bought stock in Lockheed Martin five times just before the Pentagon awarded it a new $1 billion contract.
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