FBI Director Kash Patel Failed to Timely Disclose Six-Figure MicroStrategy Stock Purchase
FBI Director Kash Patel failed to properly disclose a six-figure stock purchase in MicroStrategy, a bitcoin-fueled business intelligence company that has contracted with the Department of Justice. Patel bought between $100,001 and $250,000 worth of MicroStrategy stock on November 21 but did not disclose the trade to federal regulators until May 26, claiming it was "inadvertently omitted" from a previously filed statement. The late disclosure raises questions about compliance with the STOCK Act, which requires timely reporting of financial transactions by government officials.
Key quotes
Patel, who has regularly traded individual stocks since becoming FBI director, purchased between $100,001 and $250,000 worth of stock in MicroStrategy on Nov. 21.
But Patel did not disclose the trade with federal regulators until May 26 because he 'inadvertently omitted' it from a previously filed statement.
The late disclosure raises questions about compliance with the STOCK Act, which requires timely reporting of financial transactions by government officials.
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