Purchase of stocks raises questions

Alexia Aston

The Oklahoman USA TODAY NETWORK

Mullin’s shares climb after Maduro’s capture

U.S. Sen. Markwayne Mullin bought Chevron and Raytheon stock days before U.S. forces captured Venezuelan President Nicolás Maduro, financial disclosures have revealed.

The purchases have raised questions about whether the Oklahoma Republican was aware in advance of the U.S. plans. But a spokesperson for Mullin told The Oklahoman the purchases were made without his input by a firm that manages his stock trading.

Financial reports first reported by Quiver Quantitative, an investment research site, show that Mullin bought the stocks Dec. 29 and publicly disclosed the transactions on Jan. 16. The U.S. captured Maduro and his wife, Cilia Flores, on Jan. 3.

Mullin, an ally of President Donald Trump, serves on the Senate Armed Services Committee, which oversees

U.S. military policy and national security matters. The federal STOCK Act prohibits members of Congress from using nonpublic information derived from their official positions for personal benefit, and for other purposes.

Kate Currie, a spokesperson for Mullin, said the senator uses an independent firm that manages all stock portfolio investments on his behalf, and that he does “not conduct nor inform trades.” She added that the firm reports Mullin’s trades every other week in line with federal law.

Trump said during a Jan. 3 news conference that he didn’t notify Congress because he believed lawmakers would leak information.

Raytheon is a major U.S. defense contractor with significant Department of Defense missile and defense systems contracts. Chevron is one of the leading private oil companies in Venezuela.

The U.S. has taken control of Venezuela’s oil supply, and President Donald Trump already has sat down with industry executives to hash out how to revive the country’s once-booming industry. Chevron is expected to receive an expanded Venezuela license from the U.S. government that could allow for increased production and exports from country, as reported by Reuters.

Mullin’s disclosed purchases of Chevron and Raytheon stock were each valued between $15,001 and $50,000. Since Mullin made the purchases, Chevron shares have risen approximately 10.1%, while RTX shares have increased about 9.5%, as reported by Quiver Quantitative. Over the same period, the S&P 500 has stayed relatively flat.

Mullin’s purchases of Chevron and Raytheon stock were two of 31 stock purchases he reported making on Dec. 29.

Mullin’s net worth is an estimated $66.8 million, according to Quiver Quantitative, which ranks him 23rd most wealthy among members of Congress and second most wealthy among Oklahoma’s members of Congress behind Rep. Kevin Hern, whose net worth is an estimated $110.19 million.

After Maduro was captured, some lawmakers, especially Democrats, expressed deep skepticism about the legality of the military operation in the South American country and the lack of sign-off from Congress.

Mullin defended the Trump Administration’s actions the day the U.S. captured Maduro, saying the Venezuelan leader must face justice for his alleged crimes against American families.

“Personally, I hope he rots in prison,” he said on social media. “God bless our brave U.S. military personnel for executing a flawless mission.”