Social Media Icons

Did Pat Fallon forget to disclose millions of dollars in stock trades?

Jun 30, 2021

The new congressman for Texas' 4th District, Pat Fallon, was apparently very busy trading millions of dollars worth of stock during his first four months in office. And he allegedly failed to properly disclose these transactions until June 17, 2021.

The Stock Act requires that members of Congress publicly disclose trades within 30 days, and the June 17 filing seems to indicate that the law was not followed. 

The 90 separate stock trades Fallon reported are listed in value ranges. The trades made from January to April 2021 total approximately $8 million to $18 million.

 An aide to Rep. Fallon, Luke Ball, alleged that the congressman was unaware of the rules for congressional reporting, even though he said the office had been given the required ethics training.

Ball said that Fallon "unfamiliar" with the frequency that members of Congress were supposed to submit financial disclosures. However, he said that Fallon was quick to report and disclose the information once he discovered the problem. 

According to a disclosure he filed with the clerk of the House of Representatives on June 17, Fallon bought and sold the shares of 14 companies in the first four months of 2021.

Fallon sits on the Armed Services Committee, and his trades of Boeing stock could be scrutinized by the House Ethics Committee.

Fallon purchased between $300,000 and $750,000 worth of stock in Boeing from January to April. He sold between $219,000 and $610,000 worth of Boeing stock during this period as well.

The congressman's former state senate Twitter account (and not his US congressional Twitter account) later attempted to downplay the Boeing trades on June 29. The tweet from his verified account and apparently written by the congressman stated: "Just to be clear, I bought a couple hundred grand in Boeing stock at $258 a share and it’s now at about $239 a share."

Other companies he traded included Amazon, American Airlines, Apple, Applied Material, Caterpillar, Chevron, Facebook, FedEx, Microsoft, PayPal, UnitedHealth, Verizon, and Disney.

Fallon was installed as the 2020 Republican nominee for the 4th Congressional District by a committee of more than 100 Republican officials without a primary election after John Ratcliffe became Director of National Intelligence in 2020.

The new congressman might have faced long odds winning the election in a long Republican primary for an open congressional seat if he had not been installed. The reason: Fallon lived outside the district and had strong ties to North Texas - but not Northeast Texas, where the 4th Congressional District is located.

Click here to read Rep. Pat Fallon's June 17, 2021 stock trade disclosure report that caused the controversy.

Recent Comments

tags

Accident (1) Air Show (2) Animals (1) Arkadelphia (5) Arkansas (164) ArkLaTex (4) Arlington (1) Arrest (1) Art (1) Arts (4) Ashdown (2) Atlanta (4) Award (15) Awards (3) Bank (4) Barksdale (3) Baseball (33) Basketball (3) BBQ (1) Bees (2) Book (1) Books (7) Bossier City (5) Bossier Parish (3) Bowie (1) Bowie County (26) Business (18) Camden (1) Cars (1) Carthage (2) Cass County (9) Cemetery (1) Chamber of Commerce (1) Christian (1) Christmas (2) Church (12) City Council (2) College (58) Congress (6) Coronavirus (4) County (1) Court (3) COVID-19 (5) Crime (19) Culture (1) Dance (2) De Kalb (4) De Queen (1) Degree (2) Dinosaur (1) Donate (1) Donation (1) Downtown (1) Drugs (3) Easter (1) Election (28) Elections (2) Event (54) Events (2) Exercise (2) Fashion (1) Fayetteville (3) FBC (2) Festival (2) Film (3) Fishing (3) Fitness (2) FNP (1) Food (12) Football (36) Foreman (1) Fouke (3) Frisco (1) Gardening (3) Genoa (1) Golf (2) Graduation (5) Grambling (1) Haughton (1) Health (23) Heath (1) History (1) Holiday (3) Homes (1) Hooks (3) Hope (41) Hot Springs (8) Hotel (1) Housing (1) Humor (1) Idabel (1) Jobs (2) Journalism (1) Judge (14) Kids (2) Kilgore (1) Lake Wright Patman (1) law (4) Leary (2) Liberty-Eylau (8) Linden-Kildare (1) Little River County (1) Little Rock (1) Lockesburg (1) Longview (1) Louisiana (11) Magnolia (1) Marriage (1) Maud (5) Mayor (1) Medical (1) Mena (1) Midland (1) Military (7) Minden (1) Monroe (1) Morris County (1) Mount Pleasant (1) Movie (3) Movies (3) Museum (2) Music (12) Nash (4) Natchitoches (1) Navy (1) New Boston (14) News (353) News Football (1) News Louisiana (1) Non-profit (2) Northeast Texas (11) Oklahoma (4) Opinion (38) Opnion (1) Paris (5) Playoffs (1) Pleasant Grove (35) Police (46) Politics (20) Radio (1) Red Lick (2) Red River (1) Redwater (4) Restaurant (4) Retail (1) Review (2) Roads (4) Rockwall (5) Ruston (1) Safety (1) SAU Tech (1) Scholarship (2) School (69) Scores (1) Sheriff (4) Sherman (2) Shreveport (5) Simms (1) Soccer (1) Southwest Arkansas (4) Sports (90) Spring Lake Park (2) Stage (1) Steak (1) Stephens (1) Storms (2) Taekwondo (1) TexAmericas (2) Texarkana (247) Texarkana College (4) Texarkana Twins (1) Texas (226) Texas High School (5) Thanksgiving (1) Tornado (1) Track (3) Travel (2) Trial (10) TV (2) Twins (1) TxDOT (1) Tyler (4) UA (1) UAHT (1) Video (5) Voting (15) Wake Village (3) War (1) Washington (1) Water (2) Weather (2) Website (1) Women (2)

Contact Form