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Rep. Tom Malinowski (D-Ringoes). (Photo: Kevin Sanders for the New Jersey Globe)

Congressional Leadership Fund takes aim at Malinowski’s stock trades

By Nikita Biryukov, June 14 2021 11:21 am

A super PAC with ties to Republican House leadership launched the first piece of what they called a sustained digital ad campaign against Rep. Tom Malinowski (D-Ringoes).

The 30-second spot attacks the two-term congressman over stock trades he made amid the COVID-19 crisis.

Script:

Narrator: Tom Malinowksi railed against pandemic profiteering

Malinowski: This is not the time for anybody to be profiting

Narrator: But behind closed doors, Malinowski was caught cashing in.

Newscaster one: Malinowski is under the microscope for his business dealings during the pandemic

Newscaster two: The lawmaker bought or sold as much as $1 million of stock in medical and tech companies.

Narrator: That’s right, while New Jerseyans were dying, Tom Malinowski was making a killing.

Malinowski failed to properly disclose stock trades made at the height of the pandemic and potentially worth millions of dollars. Though there is no evidence the Democrat made trades based on insider information available to him because of his position in Congress, the trades pose a significant vulnerability for his re-election race next year.

The congressman has denied any wrongdoing, saying the trades were made by his broker and without his say-so, though he has said the disclosures were filed late because of an oversight on his behalf.

State Senate Minority Leader Tom Kean (R-Westfield) lost to the incumbent by a little more than one point in a race that took more than a week to call last year. He’s not seeking re-election to the legislature and is widely expected to mount another bid in the seventh district this year.

Rik Mehta, who was Republicans’ nominee for U.S. Senate last year, has already launched his bid for seventh district’s House seat.

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