Collier violated ethics laws by hiding details from voters about his investments in his financial disclosure
Defend The Vote (DTV), one of the nation’s leading pro-democracy and good government advocacy organizations, has requested a Department of Justice investigation of Matt Collier.
Collier violated ethics laws by hiding details about his investments from voters. DTV alerted the Justice Department of the violation in a letter pointing to Collier’s personal financial disclosure, which omits key information about an IRA he owns. The IRA includes up to $5 million in assets.
“Too many members of Congress are already profiting off insider information and stock trades. We don’t need another,” DTV Executive Director Brian Lemek said. “These ethics laws are in place to warn voters about potential conflicts of interest. Now, voters don’t have the full picture about how Matt Collier might personally benefit by serving in Congress. The Department of Justice should immediately investigate this violation and ensure he complies with the law.”
Collier, a candidate for Michigan’s 8th Congressional District, reported an IRA with assets valued between $1 million and $5 million. He failed to specify the financial institution managing his IRA as well as the underlying investments contained within it.
Key points from the letter below:
- It has come to my attention that Mr. Collier’s financial disclosure fails to provide the transparency and detail required under the Ethics in Government Act of 1978 (5 U.S.C. §§ 13101-13111) and described in the House of Representatives Ethics Manual. I urge your office to investigate this matter, to ensure Mr. Collier adheres to federal law and the ethical standards set for Congressional candidates.
- In his report, Mr. Collier lists an “IRA” — an Individual Retirement Account – valued between $1 million and $5 million as his largest asset.
- Mr. Collier’s PFD fails to specify the financial institution managing his IRA – a highly substantial asset…Nor does he disclose any underlying investments contained within the IRA, as the account is reportedly held entirely in cash.
- The lack of detail provided by Mr. Collier prevents constituents and the general public from understanding where and how his personal finances might intersect with legislative duties, should he be elected. This kind of transparency is crucial for ensuring accountability and maintaining public trust in the electoral process and the integrity of our representatives.
- I urge your office to review Mr. Collier’s financial disclosure report and investigate the comprehensive details of the financial institution holding the IRA and any specific investments therein.
Full letter to the DOJ here.
