Congressman Mike Kelly Caught Insider Trading: A Deep Dive with Ross Givens

Insider Trading Allegations Against Congressman Mike Kelly

• 🎯 A 23-page report from the House Ethics Committee details substantial evidence of insider trading by eight-term Congressman Mike Kelly.
• 🔍 The report concluded that Kelly profited by trading stock on confidential information, with evidence including text messages, emails, and broker interviews.

The Cleveland-Cliffs Case

• 🏢 The case involves Cleveland-Cliffs, a steel company in Kelly's district that faced financial trouble during COVID-19.
• 🤝 Kelly advocated for government intervention, including tariffs, to protect jobs at the company.
• 📈 Following the government's agreement to impose tariffs, Kelly's wife purchased thousands of shares of Cleveland-Cliffs stock.

Suspicious Timing and Outlier Investment

• 💡 The stock purchase by Mrs. Kelly occurred the day after her husband's staff learned the Commerce Department would announce a Section 232 investigation, a precursor to tariffs.
• 📊 This purchase was an outlier in her investment portfolio, as it was her first individual stock purchase in nearly a year and required direct instruction, unlike other managed investments.
• 💰 The stock subsequently surged 279% in nine months, tripling her investment.

Investigation and Recommendation

• 🔬 The House Ethics Committee conducted a five-year investigation, concluding there was substantial evidence of Kelly's wrongdoing.
• ⚠️ The committee's recommendation was that Kelly divest of all shares of Cleveland-Cliffs before any further action was taken, a recommendation he had already followed after tripling his money.
• ⚖️ This outcome is presented as an example of a two-tier justice system, with no fines or further penalties imposed.

Learning from Insider Trades

• 📈 Ross Givens, an expert on insider trading, offers a free live training event to teach how to track and potentially profit from insider trades legally and ethically.
• 🔗 The training, scheduled for Thursday, August 21st at 3 PM EST, aims to show participants how to follow trades made by politicians and corporate insiders.
• 💡 Participants are encouraged to register via a provided link, as attendance is capped and early registration is advised.