The House of Representatives lost the primary in May, and their term ends next month.
The House Panel’s Investigative Subcommittee (ISC) “found substantial evidence that Rep. Cawthorne promoted a cryptocurrency that had economic interests in violation of rules protecting against conflicts of interest. to cryptocurrencies,” the report said.
The subcommittee “does not find that Rep. Cawthorn knowingly or willfully failed to file a timely disclosure. We have found that the law requires us to pay a late filing fee.”
The commission conducted an investigation but did not find sufficient evidence of insider trading, an attempt to artificially inflate the value of the coin, or any intention of personally enriching oneself.
The report also found no evidence to support this year’s allegations that Cawthorne had an inappropriate relationship with a staff member.
Cawthorn’s office did not immediately respond to the report.
According to reports, Cawthorn paid $150,000 for 180 billion “Let’s go, Brandon” or LGB Coin on December 21, 2021. vulgar expression Against President Biden. On the morning of December 22nd, Cawthorn was able to find the image on his social media. sell coins.
On December 30, 2021, LGB Coin announced that it will sponsor NASCAR driver Brandon Brown for the 2022 racing season. The next day, Cawthorn sold a bunch of his LGB coins he had just purchased.
Then, on January 4, 2022, NASCAR announced that it would withdraw its approval for the LGB coin to sponsor drivers in the event, causing the coin’s price to plummet. According to reports, that same day his Cawthorn sold more of his LGB coins, and almost two weeks later, almost all of his remaining LGB coins he owned.
According to the report, Cawthorn “had multiple photos and videos that appeared to assist or specifically encourage individuals to purchase LGB coins, including after the value of the LGB coins he held plummeted. I was seen in ‘. However, officials did not reach a consensus as to whether Corson “intended to personally benefit from his promotional efforts.”
As of mid-November, Corson told officials he had nearly 15,400,000,000 LGB coins and “believed” that they were worth “$357.52,” the report said. “It is unclear how Congressman Corson arrived at that value estimate.”
In the report, officials said Cawthorne’s actions related to the coin were “not reflected credibly in the House of Representatives.”
The report was the culmination of his brief tenure as a one-term Republican, and his status as a rising star within the party was quickly overshadowed by bizarre scandals and allegations of wrongdoing.
Cawthorn was elected to the House of Representatives in November 2020 at the age of 25 and has been a strong advocate for President Donald Trump. During his tenure, he was charged with speeding stops and driving with a revoked license. He tried to bring a loaded gun onto the plane.
He accused fellow Republicans of hosting orgies and doing cocaine. He also called Ukrainian President Volodymyr Zelensky a “thug.” Although he has amassed more than one million followers on social media, his re-election campaign drew large crowds of Republican and Democratic opponents.selection.
Corson was second to Chuck Edwards in the Republican primary in May. state senatorHe won the seat of parliament in the general election.