Posted on May 3, 2023
Dem Rep Sold Stock in Collapsing Bank and Picked Up JPMorgan Shares Right Before Acquisition,...
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Insider trading?
Florida Democratic representative Lois Frankel is capitalizing on First Republic Bank's collapse and subsequent buyout by JP Morgan Chase & Co, according to congressional financial disclosures reported by Newsweek. Frankel sold her stock in the San Francisco-based bank on March 16, weeks before the value of its shares dropped 75 percent and U.S. regulators seized the failing bank's assets, Newsweek reported. A few days later, on March 22, Frankel bought stock in JP Morgan Chase & Co, which on Monday bought most of First Republic Bank's assets. The exact amount of stock Frankel traded is unknown, but according to the filing, the value for each trade was between $1,001 and $15,000, Newsweek reported.
Florida Democratic representative Lois Frankel is capitalizing on First Republic Bank's collapse and subsequent buyout by JP Morgan Chase & Co, according to congressional financial disclosures reported by Newsweek. Frankel sold her stock in the San Francisco-based bank on March 16, weeks before the value of its shares dropped 75 percent and U.S. regulators seized the failing bank's assets, Newsweek reported. A few days later, on March 22, Frankel bought stock in JP Morgan Chase & Co, which on Monday bought most of First Republic Bank's assets. The exact amount of stock Frankel traded is unknown, but according to the filing, the value for each trade was between $1,001 and $15,000, Newsweek reported.
Dem Rep Sold Stock in Collapsing Bank and Picked Up JPMorgan Shares Right Before Acquisition,...
Posted from freebeacon.com
State of Florida
Stock Trading
Posted >1 y ago
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Lt Col Charlie Brown Very suspicious sounding. Most likely inside information but proving it... If that at Trump the Dems would be all over it like stink on $hit demanding an investigation.
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There are many in congress that basically engage in what most would call insider trading. You and me would go to jail if caught doing insider trading.
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