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WNC -- December 7. 2022: A House Ethics panel announced on Tuesday that there is "substantial evidence" that the
North Carolina Republican promoted a cryptocurrency
in which he had a financial interest, in violation of the House's rules prohibiting conflicts of interest and the House Code of Official Conduct. This conclusion follows a seven-month investigation.
But it claimed that the investigative subcommittee that really looked into his actions was unable to agree on whether to condemn or reprimand the outgoing congressman, who lost the Republican primary for his House seat in May.
It instructed Cawthorn to file a "periodic transaction report" revealing his sale of his Let's Go Brandon Coin on January 17, 2022, and to pay $14,237.49 to "an appropriate charitable organization by December 31" as well as $1,000 in late filing fees to the Treasury Department within 14 days.
On a separate accusation made against Cawthorn, that he had a questionable relationship with one of his congressional staffers, was dismissed by the investigation subcommittee.
The investigators reported finding no proof of this connection and making no additional recommendations in reference to that accusation.
After the witnesses told the Ethics panel of Cawthorn's cryptocurrency activities in May 2022, the two separate investigations got under way.
According to the report the panel released on Tuesday, Cawthorn received 180 billion Let's Go Brandon Coin on December 21, 2021, for which he sent the witness a $150,000 check based on an LGB Coin valuation from more than two weeks earlier.
Just before LGB Coin announced that it would sponsor NASCAR driver Brandon Brown for the 2022 season, there was a transaction.
On Dec. 30, 2021, the sponsorship was made public; however, on Jan. 4, 2022, NASCAR withdrew its approval.
According to the inquiry, Cawthorn sold almost all of his LGB Coin on December 31, 2021, January 4, and January 17, 2022.
The report said, “Additionally, Representative Cawthorn was seen in multiple photographs and videos in which he appeared to support or specifically encouraged individuals to purchase LGB Coin, including after the value of the LGB Coin that he held plummeted.”
The Ethics panel claims that Cawthorn didn't reveal his LGB Coin purchases or sales until after the inquiry into his activity had started.
Cawthorn was able to purchase the cryptocurrency on more favorable terms than were offered to the general public, which prompted the investigative panel to reach the conclusion that he had received an unlawful gift.
Regarding claims that they were involved in an improper connection, the House panel stated that Cawthorn and the other party in question both denied having a romantic or sexual relationship.
Additionally, every witness questioned by the investigation panel confirmed that there was no unlawful relationship between the two and that Cawthorn's personal friendship with the person did not lead to an unfavorable work environment
“Furthermore, the [Interagency Security Committee] established that any depictions of sexually themed or otherwise inappropriate comments or conduct took place prior to Representative Cawthorn’s service in the House and beyond the ISC’s jurisdiction,”
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