House Fines Cawthorn $15K For Crypto Insider Trading

Axios reports:

Rep. Madison Cawthorn (R-N.C.), who is leaving Congress next month after losing his primary, was directed by the House Ethics Committee Tuesday to pay more than $15,000 related to his ownership and promotion of a cryptocurrency.

A report released by the panel, which followed a seven-month investigation, concluded there was “substantial evidence” the North Carolina lawmaker improperly received and promoted “Let’s Go Brandon Coin,” and later failed to disclose his ownership on time.

The panel directed Cawthorn to pay $14,237 to an “appropriate charitable organization” by the end of December and another $1,000 in late filing fees to the Treasury Department within 14 days of the report’s release.

Read the full article. Earlier this year it was speculated that Cawthorn could face criminal charges. The Let’s Go Brandon coin is now worthless so he surely lost much more from his investment than this $15K fine.

Ethics panel directs Madison Cawthorn to pay $15,000 over crypto promotion https://t.co/7Azdj5YNOn

— Axios (@axios) December 6, 2022

Madison Cawthorn could be indicted for insider trading: report https://t.co/Kc6YmI4XDh pic.twitter.com/GmKvwGXIs7

— New York Post (@nypost) April 27, 2022