GOP Senator Calls for Insider Trade Investigation of Representative Madison Cawthorne

Sen. Thom Tillis (RNC) has called for the investigation of Rep. Madison Cawthorne (RNC) for possible insider trading in the cryptocurrency.

Tillis issued the call for the investigation following a report from the Washington Examiner that said Cawthorne had raised suspicion among “multiple watchdog groups” over his promotion of the cryptocurrency “Let’s Go Brandon”, a pornographic adversary Joe Biden. reference to the phrase. ,

The Examiner published an Instagram photo posted last December in which Cawthorne posed with hedge fund manager James Cotoulas, who was behind the “Let’s Go Brandon” meme coin. In the post, Cawthorne hyped the coin, claiming he owned it and saying it would “go to the moon” the next day.

Sure enough, the next day NASCAR driver Brandon Brown announced that cryptocurrency would be his primary sponsor for the 2022 racing season, which increased the value of the coin by 75%, the tester reported.

NASCAR put the brakes on sponsorship after some time.

According to the newspaper, the total value of the coin reached $570 million and fell just a month later, leading to accusations of a “pump and dump” scheme. In this type of strategy, organizers wildly hype an investment, then dump their holdings, reaping large profits, while leaving unintentional trail deflationary assets.

“It sounds really, really bad,” Dylan Hedler-Gaudet, government affairs manager for the watchdog group Project on Government Oversight, told the Examiner. “It seems to be a classic case that you got some insider information and that information was acted upon. And it’s illegal.”

An investor has already filed a class action lawsuit against the Koutoulas. Although not the target of the Cawthorne suit, he is named as one of the “celebrities” who touted the coin.

Cawthorne did not respond to the examiner, or to the News & Observer (Raleigh, NC), which picked up the story. However, on Instagram, he rebuked an unnamed senator and called him “RINO” (Republican in Name Only). He also complained that ” establishment” was targeting him,

Cawthorne has come under fire in recent months over several encounters with law enforcement. According to officials, he was pulled over twice for speeding, driving without a license and driving with a suspended licence.

Then on Tuesday, Cawthorne was issued a citation for misdemeanor possession of a dangerous weapon For trying to bring a loaded handgun through a security checkpoint at Charlotte Douglas International Airport in North Carolina, police said.

This was the second time Cawthorne was caught trying to slip firearms past airport security. He was stopped at North Carolina’s Asheville Regional Airport last year while trying to board a plane with an unloaded gun and a magazine full of ammunition in his carry-on bag.

At that time he said that it was just a mistake.

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