Commerce Department Has Been Quietly Investigating Wilbur Ross' Finances For Years

Thursday’s report catalogues a litany of inaccurate statements that Ross submitted to federal officials. He did not list all assets on his financial disclosure report. He claimed to have divested things he did not. He described stock distributions that did not happen. He said he sold assets that he actually shorted.

It’s not a crime to unintentionally provide false information to officials—only to intentionally do so. The report does not conclude that Ross knowingly lied.

The inspector general also documented several meetings that don’t look good at first glance. For instance, Ross was supposed to receive advice from ethics lawyers before dealing with issues involving China or energy. But in conversations about gas exports, the commerce secretary ignored that and talked to Chinese officials. Another example: While Ross’ wife owned stock in Boeing, he met with the company’s CEO and asked about subsidies to its rival Airbus. A third one: the commerce secretary met with the CEO of a railcar company even though Ross owned a hidden stake in the business.

The report concludes that the China energy talks violated the regulation meant to curb unethical appearances, while determining that Ross’ actions didn’t have a clear enough effect on his holdings to constitute a violation of the criminal conflicts-of-interest statute. Merely asking the CEO about Airbus, without taking some action related to the conversation, didn’t rise to that level either, according to the report. Nor did the meeting with the railcar CEO, which Ross claimed was “purely social.”

https://www.forbes.com/sites/danalexander/2020/12/04/commerce-department-has-been-quietly-investigating-wilbur-ross-finances-for-years/?sh=3e5db19864aa