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Investigative Report·House Committee on Ethicsadmonishment

In the Matter of Allegations Relating to Representative Madison Cawthorn

Published December 6, 202282 pages
View source PDFOriginal source

Briefing

The House Committee on Ethics investigated Representative Madison Cawthorn for promoting a cryptocurrency called LGB Coin and for an alleged improper relationship with a staffer. The Committee found no evidence of an improper staff relationship but found substantial evidence that Cawthorn promoted a cryptocurrency in which he had a financial interest, failed to timely disclose related transactions, and received an improper gift by purchasing coins on more favorable terms. The Committee adopted the Investigative Subcommittee report, admonished Cawthorn, and directed him to repay $14,237.49 to charity, pay $1,000 in late filing fees to the Treasury (plus an additional $200 noted in the report)

People Named

  • Susan Wild — other
  • Michael Guest — other
  • Veronica Escobar — other
  • Mondaire Jones — other
  • Kelly Armstrong — other

Allegations

  • [medium]Representative Cawthorn may have engaged in an improper romantic or sexual relationship with an individual employed on his congressional staff.
  • [high]Representative Cawthorn promoted a cryptocurrency (LGB Coin) in which he had a financial interest.
  • [high]Representative Cawthorn failed to timely disclose his purchases and sales of LGB Coin on required periodic transaction reports.
  • [medium]Representative Cawthorn received an improper gift by purchasing LGB Coin on terms more favorable than those available to the general public.
  • [unknown]Allegations that Representative Cawthorn may have engaged in insider trading or fraudulent activity relating to LGB Coin.

Findings

  • [no violation]The ISC found no evidence that Representative Cawthorn engaged in an improper relationship with a member of his congressional staff.
  • [violation found]The ISC found substantial evidence that Representative Cawthorn promoted a cryptocurrency in which he had a financial interest, violating conflicts of interest rules and Committee guidance.
  • [insufficient evidence]The ISC found Representative Cawthorn failed to timely disclose his LGB Coin transactions pursuant to House disclosure requirements but did not find the failures were knowing or willful.
  • [violation found]The ISC found Representative Cawthorn received an improper gift when he purchased LGB Coin on more favorable terms than available to the public and recommended repayment of the gift value.
  • [no violation]The ISC did not find sufficient evidence to conclude Representative Cawthorn engaged in insider trading or securities fraud.

This summary is generated by AI from the official document. Read the source PDF for the authoritative text.