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FBI Director Kash Patel Filed Late Disclosure of Six-Figure Strategy Investment
Kash Patel disclosed a purchase of up to $250,000 in Strategy stock more than 180 days after the transaction. The FBI said the omission was unintentional and that corrected paperwork received ethics approval.
What happened?
Kash Patel disclosed a purchase of up to $250,000 in Strategy stock more than 180 days after the transaction. The FBI said the omission was unintentional and that corrected paperwork received ethics approval.
Why it matters
FBI Director Kash Patel reported a six-figure investment in Strategy, formerly MicroStrategy, months after the federal disclosure deadline, according to records reviewed by NOTUS. Patel bought between $100,001 and $250,000 of the company’s stock on Nov. 21 but did not report the transaction until May 26, saying it had been inadvertently omitted from an earlier filing.
FBI Director Kash Patel reported a six-figure investment in Strategy, formerly MicroStrategy, months after the federal disclosure deadline, according to records reviewed by NOTUS. Patel bought between $100,001 and $250,000 of the company’s stock on Nov. 21 but did not report the transaction until May 26, saying it had been inadvertently omitted from an earlier filing.
The disclosure matters because Strategy is both a major corporate holder of bitcoin and a government software contractor that has done millions of dollars of business with the Department of Justice, which includes the FBI. The bureau also investigates cryptocurrency-related crimes, adding scrutiny to the director’s personal exposure to a bitcoin-focused company.
Under the STOCK Act, senior executive-branch officials must disclose individual stock transactions exceeding $1,000 within 45 days. First-time violations can carry a $200 penalty. An FBI official said the Justice Department had not fined Patel at the time of the report.
Deputy Assistant Attorney General William Taylor told the Office of Government Ethics that the investment did not create a conflict with Patel’s duties and attributed the delayed filing to a miscommunication. The FBI said Patel submitted corrected paperwork after discovering the mistake and that a Justice Department ethics official approved it.
A representative of the nonpartisan Project on Government Oversight said the filing was late under the STOCK Act. The episode adds to a broader debate over whether senior federal officials should be permitted to trade individual stocks while in office.
