Questions raised over Biden-touted EV company stock options previously held by Energy Sec. Granholm

A top member of President Joe Biden’s administration, Energy Sec. Jennifer Granholm, is in hot water as she stands accused of conflicts of interest, corruption, and dishonesty with regard to her buying and selling of certain stocks.

It was just revealed that Granholm recently exercised stock options on an electric vehicle company, even though it had previously been reported that she had divested from that particular company last year, Fox News reported.

That is a problem not just because of Granholm’s apparent dishonesty about those stock options remaining in her portfolio but also because that company, Proterra, has been heavily promoted by the Biden administration as part of its incessant push to bolster electric vehicles over regular cars and trucks that use gasoline.

Reportedly just sold stocks she reportedly dumped last year

The Daily Mail reported this week on comments recently made by Granholm in which she discussed the “compelling case” for Americans to purchase electric vehicles in order to save money by not having to fill up on a regular basis with increasingly expensive gasoline.

The outlet further noted that it was only last month that Granholm exercised stock options worth $1.6 million on Proterra, an electric vehicle company for which she had previously served as a director prior to joining the Biden administration.

That appears to be a problem, though, given that Politico had reported in May 2021 that, according to the Energy Department, the secretary had sold off all of her holdings in Proterra at that time.

Those holdings had become an issue with some Republican critics in light of the fact that President Biden himself had visited the company’s main facility and had promoted the company, and the alleged sale of the stock options at that time was an effort to mollify those critics and ensure that Granholm was in “full accordance” with all applicable legal and ethical standards and requirements.

Violation of reporting requirements, failure to disclose records

This is not the first time that Sec. Granholm has appeared to be in violation of certain legal and ethical standards, as CNBC reported in January that Granholm violated the transaction reporting requirements of the STOCK Act on at least nine occasions in 2021.

That law requires all members of Congress and top executive officials to report all transactions within 45 days of occurrence, but Granholm in December 2021 had belatedly reported nine separate transactions from between April and October — including the alleged sale of the Proterra options — long past the 45-day deadline … a violation that was flippantly dismissed as a mere “clerical error” for which she paid a nominal fine.

Meanwhile, the Legal Newsline reported in February that a government watchdog group, Protect the Public’s Trust, had filed a lawsuit against the Energy Department over allegations that it had wrongfully withheld requested records related to Granholm’s Proterra stock options, which she had continued to hold even as the administration touted the company and boosted its value.

Corruption, or just a dishonest elitist?

If the recent reports are accurate and Sec. Granholm only recently sold off her Proterra stock options despite having claimed to have done so more than a year ago, that looks an awful lot like a textbook case of corruption.

That said, even if it turns out that recent reports are inaccurate and Granholm did actually divest from Proterra last year, that doesn’t change the fact that she has still violated the STOCK Act in other regards — to say nothing of her history of grossly elitist remarks about expensive electric vehicles versus high gas prices — and she should be compelled to resign her position in disgrace.

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