Roger Sollenberger
12/20/23
(Daily Beast) The CREW filing is the second complaint against Garcia in a week, prompted by The Daily Beast’s reporting on the transactions last Wednesday, following a complaint from Democratic transparency advocacy organization End Citizens United last Friday, alleging that Garcia broke multiple ethics rules, violated the STOCK Act, and potentially engaged in insider trading with the Boeing sale.
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The same filing included delayed disclosures about two other transactions, and The Daily Beast highlighted other apparent violations, like Garcia’s failure to disclose other assets and stock options on his annual report. The End Citizens United complaint was first reported by Spectrum1, in Santa Monica, California—Garcia’s home district.
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The ECU complaint takes the additional step of alleging that Garcia may have engaged in insider trading with the Boeing sale. That complaint says Garcia, a former Raytheon executive, may have acted on inside information gleaned from potential knowledge of material nonpublic information from the Transportation Committee’s ongoing investigation into the company’s safety protocols. (The CREW complaint stops short of that allegation, but observes that Garcia’s committee was preparing a report that was “highly critical of Boeing and cited voluminous nonpublic information obtained from Boeing.”)