The Office of Congressional Ethics opened a probed late last year of House Financial Services Chairman Spencer Bachus, R-Ala., over possible violations of insider-trading laws, the Washington Post reports, citing sources familiar with the case.
The case is the first of its kind involving a member of Congress, according to the Post, and comes to light hours after the House passed legislation against lawmakers’ insider trading. “The Office of Congressional Ethics has requested information and I welcome this opportunity to present the facts and set the record straight,” Bachus said in a statement issued Thursday by his spokesman, according to the Post.
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