Steve_McGarrett
Gold Member
- Jul 11, 2013
- 19,272
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- Banned
- #1
Practicing disclosure and being ethical is a concept that defines a good politician from a bad one. In this case, Texas gubernatorial candidate Wendy Davis has been caught not disclosing all of her assets on her personal financial statements that she is required to do each year. In this case, she failed to do it 3 times out of the 4 years since she has been elected to office. In fact she misrepresented those disclosures and now she is in violation of Texas State Code as it has been uncovered. Her violations have now been filed with the Texas Ethics Commission and this is now another case of candidate Wendy Davis not representing herself truthfully and accurately.
Citizen Files Ethics Complaint Against Wendy Davis - Watchdog Wire - Texas
Wendy Davis Faces Ethics Complaint in Texas
Davis failed to disclose her ownership of stocks and mutual funds, capital gains made on the sale of those mutual funds, interest earned on several bank accounts, and professional ties to registered lobbyists associated with a law firm at which she is employed. Davis allegedly failed to make these financial disclosures on three of the four Personal Financial Statements she has filed since taking office in 2009.
Davis disclosed ownership of a single stock and two mutual funds on each of her Personal Financial Statements, but reported ownership of several additional mutual funds on her income tax returns for each corresponding year. Davis 1040 and 1099-B forms include over 40 pages of proceeds from mutual fund transactions, and reveal that the Senator reported to the IRS that she bought and sold several mutual funds that made capital gains and losses during the years 2010-2012, but did not report any such activity to the state in her Personal Financial Statements for those years.
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Once the complaint is processed by the Ethics Commission, Davis will have 30 days to respond in writing. If the commission deems that Davis knowingly and willfully failed to file a financial statement that covered her assets, she may be subject to both civil penalties and criminal prosecution.
The commission may impose up to $10,000 in civil fines, and may also turn a case over to state prosecuting attorneys for criminal prosecution. Failure to comply with the personal financial disclosure requirements is a Class B misdemeanor, punishable by up to $2,000 in fines and 180 days in jail.
Citizen Files Ethics Complaint Against Wendy Davis - Watchdog Wire - Texas
Wendy Davis Faces Ethics Complaint in Texas
Davis failed to disclose her ownership of stocks and mutual funds, capital gains made on the sale of those mutual funds, interest earned on several bank accounts, and professional ties to registered lobbyists associated with a law firm at which she is employed. Davis allegedly failed to make these financial disclosures on three of the four Personal Financial Statements she has filed since taking office in 2009.
Davis disclosed ownership of a single stock and two mutual funds on each of her Personal Financial Statements, but reported ownership of several additional mutual funds on her income tax returns for each corresponding year. Davis 1040 and 1099-B forms include over 40 pages of proceeds from mutual fund transactions, and reveal that the Senator reported to the IRS that she bought and sold several mutual funds that made capital gains and losses during the years 2010-2012, but did not report any such activity to the state in her Personal Financial Statements for those years.
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Once the complaint is processed by the Ethics Commission, Davis will have 30 days to respond in writing. If the commission deems that Davis knowingly and willfully failed to file a financial statement that covered her assets, she may be subject to both civil penalties and criminal prosecution.
The commission may impose up to $10,000 in civil fines, and may also turn a case over to state prosecuting attorneys for criminal prosecution. Failure to comply with the personal financial disclosure requirements is a Class B misdemeanor, punishable by up to $2,000 in fines and 180 days in jail.