wilbur ross

WASHINGTON (Reuters) – US Commerce Secretary Wilbur Ross said he would sell all of his remaining equity holdings and buy US Treasuries after receiving a letter on Thursday from the federal ethics agency criticizing his asset reporting.

“To maintain the public trust, I have directed that all of my equity holdings be sold and the proceeds placed in US Treasury securities,” Ross said in a statement.

Ross’s holdings were under scrutiny when in June, he was reported to have shorted a shipping firm’s stock days after The New York Times contacted him about the firm’s links to Russia. At one point, Russian President Vladimir Putin’s son-in-law Kirill Shamalov reportedly owned as much as 20% in the firm, Navigator Holdings.

Ross’s sale was worth between $100,000 and $250,000, according to The New York Times.

(Reporting by Eric Walsh; Editing by Toni Reinhold)

SEE ALSO: US consumers and businesses are already starting to feel the pain from Trump’s trade war, and the worst is yet to come

Join the conversation about this story »

NOW WATCH: What happens when you hold in your pee for too long

…read more

Source:: Business Insider

      

(Visited 1 times, 1 visits today)

Leave a Reply

Your email address will not be published. Required fields are marked *