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Democrats seek insider trading evidence at Education Department

Joe Mont | February 28, 2018

A new concern for Democratic gadfliess: Suspicious stock trades may have been timed to Education Department announcements. Senator Doug Jones (D-Ala.), Senator Elizabeth Warren (D-Mass.), Representative Suzanne Bonamici (D-Ore.) have written a letter to Secretary of Education Betsy DeVos “urging her to address disclosure of non-public information about important Department of Education actions.”

“The disclosures appear to be creating opportunities for insider trading of the stocks of the companies affected by the Department’s decisions,” the letter says.

The first suspicious incident of potential leaks of Department information involved trades of Navient stock on Aug.31, 2017. The trades occurred prior to the public announcement of the Department’s termination of its 2011 and 2014 Information Sharing Memoranda of Understanding (MOU) with the Consumer Financial... To get the full story, subscribe now.