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Friday
Jun272014

NHGOP CALLS ON SHAHEEN TO EXPLAIN INCONSISTENCIES IN SHADY STOCK STORY

ConcordNew Hampshire Republican State Committee Chairman Jennifer Horn today called on Senator Jeanne Shaheen to explain inconsistencies in response to a Boston Globe story about her shady financial interests. The Boston Globe yesterday reported that Senator Shaheen and her husband have a financial stake in a company that received federal stimulus funding. The Shaheen campaign claimed their company stock options have expired, however Shaheen's personal disclosure report filed with the Senate Ethics Committee in May still lists them as assets. Shaheen's report also says they are scheduled to expire on September 1, 2019.

 

"The Shaheen campaign's explanation for her shady stock options directly contradicts the information provided in Senator Shaheen's personal financial disclosure report. Senator Shaheen needs to explain this discrepancy and discuss why she has either misled her constituents with false information or misled the Senate Ethics Committee with false reports," said NHGOP Chairman Jennifer Horn. "Very serious ethical questions have been raised about Senator Shaheen's finances and a potential conflict of interest involving her husband's lobbying firm. Her inconsistent story raises even more concerns that must be addressed immediately."

 

Reports filed with the Senate Ethics Committee show that the Shaheens acquired stock options in Ultrawave on September 16, 2009 worth thousands of dollars. On May 14, 2014, Shaheen filed a financial disclosure report that still lists the stock Ultrawave as an asset. The report also states that the stock expires on September 1, 2019.

 

When confronted by the Boston Globe this week, the Shaheen campaign claimed that the stock had expired. The Globealso reported "the Shaheens declined multiple requests for interviews and would not answer most detailed questions about their investments and connection to the firm."

 

Shaheen voted for the wasteful $787 billion stimulus boondoggle and her husband Billy runs a prominent lobbying firm that operated a "stimulus opportunities team" to help clients get federal money.

 

Non-partisan ethics watchdogs have raised questions about the red flags raised by Shaheen's potential conflict of interest.

 

"'It absolutely is a concern,' Charlton Copeland, former chair of the Miami-Dade Commission on Ethics and Public Trust and a professor at the University of Miami told the Boston Globe. 'It raises questions because so much of the work of this kind of policymaking takes place outside of the specter of the public eye.'"

 

BACKGROUND:

 

On November 16, 2009, Billy Shaheen Purchased Stock Options In Ultrawave Labs. (Sen. Jeanne Shaheen, 2009 Financial Disclosure Report, 5/13/13)

 

The Campaign Claims The Stock Options Have Expired. "The campaign said that they recently learned that Shaheen's stock options have since expired, so he did not wind up profiting from the transaction. The campaign would not disclose when the stock options expired." (Noah Bierman and Todd Wallace, "Similarity In Shaheen Cause, Family Interests," Boston Globe6/24/14)

 

But Shaheen's Most Recent Personal Financial Disclosure States The Stock Options Expire September 1, 2019. (Sen. Jeanne Shaheen, 2013 Financial Disclosure Report, 5/15/14)

  



 

 

 

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