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Arizona Lawmaker Accuses Colleague of Corruption Amid $1.6M Stock Deal Scandal
In a recent congressional hearing, Arizona Rep. Yassamin Ansari (D) raised serious allegations against Rep. Bruce Westerman (R-Arkansas), accusing him of corruption related to significant stock trades. The trades, reportedly totaling over $1.6 million, involve companies under the jurisdiction of the House Natural Resources Committee, which Westerman chairs.
During the May 6 hearing, Ansari noted, “We know that a member of this committee bought up to $1.675 million in stock and sold up to $150,000 throughout the month of March.” She emphasized the unusual nature of these trades, marking the first substantial stock activity Westerman has reported since his election a decade ago.
Westerman’s financial disclosures indicate that he engaged in transactions involving around 100 companies in March. Notably, these include major oil and gas firms like Exxon Mobil, Chevron, BP, and others.
Ansari expressed urgency in addressing what she termed “corruption,” declaring, “That’s why I introduced an amendment to prohibit Members of Congress from trading individual stocks and insider trading. The corruption has to end.” She also implied that Westerman’s trading activities coincided suspiciously with his involvement in drafting a bill intended to generate $18 billion in revenue for oil and gas companies.
In response, Westerman maintained that the stock trades were conducted by an investment advisor without his knowledge, asserting, “There was nothing wrong with what happened.” He further mentioned that he is in the process of divesting these stocks.
Ansari plans to push for legislative changes aimed at banning individual stock trades among members of Congress, aiming to curb potential abuses of power. “Hopefully, this would make members think twice before they make shady financial deals,” she concluded.
