{"id":95222,"date":"2022-04-27T17:15:18","date_gmt":"2022-04-27T17:15:18","guid":{"rendered":"https:\/\/yellowdogwire.com\/?p=95222"},"modified":"2022-04-27T17:15:21","modified_gmt":"2022-04-27T17:15:21","slug":"madison-cawthorn-implicated-in-potential-insider-trading-scheme-experts-say","status":"publish","type":"post","link":"https:\/\/yellowdogwire.com\/?p=95222","title":{"rendered":"“Madison Cawthorn implicated in potential insider trading scheme, experts say”"},"content":{"rendered":"\n

Washin<\/a>gton Examiner:<\/a> “Rep.\u00a0Madison Cawthorn<\/a>\u00a0may have violated federal insider trading laws as he hyped up an alleged pump-and-dump cryptocurrency scheme, multiple watchdog groups told the\u00a0Washington Examiner<\/em>.<\/p>\n\n\n\n

On Dec. 29, the beleaguered\u00a0North Carolina<\/a>\u00a0congressman posed at a party with James Koutoulas, a hedge fund manager and the ringleader of the Let’s Go Brandon cryptocurrency, a meme coin set up in the wake of the chant mocking President\u00a0Joe Biden<\/a>.<\/p>\n\n\n\n

“LGB legends. … Tomorrow we go to the moon!” Cawthorn, who has stated publicly he owns the cryptocurrency, posted on Instagram in response to the picture posted on Koutoulas’s Instagram page.<\/p>\n\n\n\n

The next day, LGBCoin did exactly as the lawmaker predicted.<\/p>\n\n\n\n

NASCAR driver Brandon Brown announced on Dec. 30 that the meme coin would be the primary sponsor of his 2022 season, causing LGBCoin’s value to spike by 75%. Brown’s statement<\/a> featured comments from Koutoulas, who was pictured with Cawthorn just a few hours prior.<\/p>\n\n\n\n

Multiple watchdog groups told the Washington Examiner<\/em> that Cawthorn’s Dec. 29 Instagram post suggests the lawmaker may have had advanced nonpublic knowledge of LGBCoin’s deal with Brown. The watchdogs said the post, combined with Cawthorn’s statement that he owns LGBCoin, warrants an investigation from the Department of Justice and the Securities and Exchange Commission to determine whether the lawmaker violated federal insider trading laws.<\/p>\n\n\n\n

“This looks really, really bad,” said Dylan Hedtler-Gaudette, the government affairs manager for Project on Government Oversight, a federal watchdog group. “This does look like a classic case of you got some insider information and acting on that information. And that’s illegal.”<\/p>\n\n\n\n

“I think there’s probably a strong case here,” Hedtler-Gaudette added. “I don’t want to prejudge, but based on everything that’s out there, I think there is a very strong possibility that if someone is going to investigate this, they’re going to find something.””<\/p>\n","protected":false},"excerpt":{"rendered":"

Washington Examiner: “Rep.\u00a0Madison Cawthorn\u00a0may have violated federal insider trading laws as he hyped up an alleged pump-and-dump cryptocurrency scheme, multiple watchdog groups told the\u00a0Washington Examiner. On Dec. 29, the beleaguered\u00a0North Carolina\u00a0congressman posed at a party with James Koutoulas, a hedge fund manager and the ringleader of the Let’s Go Brandon cryptocurrency, a meme coin set…<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"nf_dc_page":"","_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2}},"categories":[4],"tags":[],"class_list":["post-95222","post","type-post","status-publish","format-standard","hentry","category-newsstory"],"jetpack_publicize_connections":[],"jetpack_featured_media_url":"","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/yellowdogwire.com\/index.php?rest_route=\/wp\/v2\/posts\/95222","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/yellowdogwire.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/yellowdogwire.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/yellowdogwire.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/yellowdogwire.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=95222"}],"version-history":[{"count":1,"href":"https:\/\/yellowdogwire.com\/index.php?rest_route=\/wp\/v2\/posts\/95222\/revisions"}],"predecessor-version":[{"id":95226,"href":"https:\/\/yellowdogwire.com\/index.php?rest_route=\/wp\/v2\/posts\/95222\/revisions\/95226"}],"wp:attachment":[{"href":"https:\/\/yellowdogwire.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=95222"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/yellowdogwire.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=95222"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/yellowdogwire.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=95222"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}