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Rep. Thomas H. Kean, Jr. (Photo: Kevin Sanders for the New Jersey Globe).

Kean will place his investments in a blind trust

Congressman-elect will seek approval from House Ethics Committee

By David Wildstein, January 02 2023 8:03 pm

Rep.-elect Thomas Kean, Jr. (R-Westfield) plans to set up a blind trust once he is sworn in as the new congressman from New Jersey’s 7th district tomorrow.

“I am committed to bringing the highest level of ethics and transparency to this office.  It is a privilege and an honor to serve on behalf of our communities, and I believe Members of Congress owe their constituents full and timely reporting on their disclosures,” Kean said on Monday.  “I have also asked my legal counsel to work with the House Ethics Committee to determine steps to establish a Qualified Blind Trust.  I will continue to be open and transparent throughout this process.”

Kean unseated Rep. Tom Malinowski (D-Ringoes) last year after hammering the two-term Democratic incumbent for failing to properly disclose more than 100 stock trades during his first 27 months in Congress.  Malinowski later put is assets in a blind trust and called on Kean, a former minority leader of the New Jersey State Senate, to do the same.

A House Ethics Committee investigation aimed at Malinowski will expire at noon tomorrow once his tenure in Congress ends.

After creating his own blind trust, Malinowski sought to make an issue of Kean not following his lead.

“Dudes, I put my life savings in a blind trust and co-sponsored the stock trading ban months ago,” Malinowski said on Twitter last January.  “The main NJ politician resisting this movement is wannabe Congressman Tom Kean, who lives off his trusts and apparently has some explaining to do.  Let us know when he gets on board.”

Kean has a net worth of about $6.5 million, according to a Star-Ledger review of his personal financial diclosure filings in 2021.

It took Malinowski several months to get his blind trust approved by the ethics panel.

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