Wilbur Ross held bank shares despite reporting he'd sold them, report says

Commerce Secretary Wilbur Ross failed to sell a bank stock holding within the required time frame after his ...

Posted: Dec 21, 2018 6:59 AM
Updated: Dec 21, 2018 6:59 AM

Commerce Secretary Wilbur Ross failed to sell a bank stock holding within the required time frame after his 2017 confirmation and subsequently signed ethics documents indicating the holding had been sold, according to a report from the Center for Public Integrity.

Ross continued to hold shares worth up to $15,000 in Florida-based BankUnited until October 2018, though he was required to divest within 90 days of his Senate confirmation in February 2017, according to documents obtained by the nonprofit.

Business figures

Center for Public Integrity

Charities and charitable giving

Ethics

Non-profit and NGO organizations

Society

Wilbur Ross

He said in a statement that he thought the stock, which represents a tiny fraction of his net worth, had been sold in May 2017. He said that the previous disclosures in which he indicated he had sold the stock were "based on a mistaken belief that the agent executed my sell order on that date."

In his statement, Ross also said that his October disclosure "corrected an earlier filing."

It's the latest in a string of similar problems for the billionaire investor.

Ross signed a government ethics agreement in November 2017, saying he had completed divestitures. But a month later, he submitted a report saying he had sold stock in his former company Invesco.

In July, the Office of Government Ethics wrote in a letter that Ross' failure to divest certain investments "created the potential for a serious criminal violation."

Ross then issued a statement in response, admitting to "inadvertent errors" in failing to divest assets and saying he'd sell all his stock holdings.

"My investments were complex and included hundreds of items. I self-reported each error, and worked diligently with my department's ethics officials to make sure I avoided any conflicts of interest," he said in his July statement.

As a Cabinet nominee, Ross signed an ethics agreement pledging to sell off most of his financial assets once he was confirmed.

Ross stated on two forms -- a May 2017 transaction report and an annual financial disclosure filed in August 2018 -- that he had divested the BankUnited stock. But he filed a transaction report in October 2018 showing that he continued to own the stock until October 1.

Mississippi Coronavirus Cases

Data is updated nightly.

Confirmed Cases: 15229

Reported Deaths: 723
CountyConfirmedDeaths
Hinds99925
Lauderdale73561
Madison72023
Scott65012
Neshoba63038
Jones59825
Forrest55338
DeSoto5337
Rankin4217
Leake42112
Holmes39728
Copiah3104
Jackson30513
Attala29216
Yazoo2734
Newton2714
Leflore25831
Harrison2577
Lincoln25628
Monroe25525
Lamar2355
Oktibbeha23512
Lowndes2119
Pearl River20931
Pike20211
Adams19615
Noxubee1856
Wayne1771
Warren1719
Washington1687
Covington1652
Bolivar16011
Jasper1574
Smith15011
Lee1496
Kemper14411
Clarke14318
Chickasaw13312
Lafayette1314
Coahoma1214
Carroll11711
Marion1159
Clay1124
Winston1121
Claiborne1112
Lawrence1021
Simpson1010
Yalobusha905
Hancock9011
Tate891
Grenada893
Wilkinson889
Itawamba877
Union835
Marshall833
Montgomery831
Sunflower813
Jefferson Davis772
Tippah7311
Panola703
Webster691
Calhoun644
Humphreys607
Amite601
Walthall550
Tunica543
Prentiss523
Perry503
Choctaw432
Jefferson421
Tishomingo320
Pontotoc323
Stone300
Franklin282
Tallahatchie271
Quitman260
George251
Alcorn171
Benton150
Greene121
Sharkey70
Unassigned00

Alabama Coronavirus Cases

Confirmed Cases: 17359

Reported Deaths: 618
CountyConfirmedDeaths
Mobile2191115
Jefferson1780102
Montgomery163238
Tuscaloosa73814
Marshall6879
Franklin5457
Lee54033
Shelby50319
Tallapoosa42364
Butler40217
Chambers35325
Walker3442
Elmore3398
Madison3274
Baldwin2839
Dallas2603
Morgan2511
Etowah24811
DeKalb2433
Lowndes23812
Coffee2291
Sumter2206
Autauga2164
Houston2094
Bullock2034
Pike1980
Colbert1782
Russell1670
Marengo1636
Lauderdale1612
Hale1598
Calhoun1543
Choctaw1518
Barbour1501
Wilcox1447
Clarke1422
Cullman1260
Randolph1257
Marion12111
St. Clair1181
Pickens1114
Dale1100
Talladega1093
Chilton1001
Limestone940
Greene944
Winston880
Covington771
Jackson772
Crenshaw763
Macon754
Henry742
Bibb721
Washington686
Blount611
Escambia573
Lawrence480
Geneva400
Conecuh391
Coosa381
Monroe372
Perry370
Cherokee373
Clay272
Lamar230
Fayette150
Cleburne141
Unassigned00
Tupelo
Clear
75° wxIcon
Hi: 83° Lo: 58°
Feels Like: 75°
Columbus
Clear
76° wxIcon
Hi: 85° Lo: 59°
Feels Like: 76°
Oxford
Clear
73° wxIcon
Hi: 82° Lo: 57°
Feels Like: 73°
Starkville
Clear
73° wxIcon
Hi: 83° Lo: 55°
Feels Like: 73°
WTVA Radar
WTVA Temperatures
WTVA Severe Weather