TOLEDO, Ohio — U.S. Rep. Marcy Kaptur (D-Toledo) paid a $200 fine recently after failing to report selling shares of Andersons stock she inherited from a relative within the required timeframe.
According to Congressional filings, Kaptur sold $1,280.03 in Andersons Inc. shares on Oct. 21, 2022, but did not report the transaction until May of this year. Members of Congress are required to report such transactions over $1,000 within 45 days, per the terms of the STOCK Act.
Kaptur was a co-sponsor of the bill, which passed in 2012 and was signed into law by President Barack Obama. The legislation mainly aims to prevent members of Congress from engaging in insider trading.
Ben Kamens, a Kaptur spokesman, released the following statement:
“In 38 years of filing Congressional disclosure reports, Congresswoman Kaptur has never purchased or traded individual stocks. When her brother passed away in 2021, she inherited her first individual stocks and fully disclosed she would hold and not trade them.
“In 2022, it became clear that as a result of redistricting Congresswoman Kaptur would represent the Ohio agribusiness whose stock she had inherited. To avoid even the appearance of any conflict with her official work, Congresswoman Kaptur promptly sold all of her shares in the stock — a total of $1,280.03.
“Upon discovering the $1,280.03 transaction exceeded the reporting limit of $1,000, she filed the required report and a $200 fee for the delay in recognizing the oversight."
Kamens also said Kaptur has no intention of buying or selling individual stock.
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