BREAKING NEWS: Texas Rep. Jasmine Crockett Hit With Formal Ethics Complaint — Watchdog Alleges She Hid Dozens of Stock Holdings in Major Federal Disclosure Scandal

Washington, D.C. — November 6, 2025** — In a bombshell development that has sent shockwaves through Capitol Hill and reignited debates over congressional transparency, the nonpartisan watchdog group Foundation for Accountability and Civic Trust (FACT) has filed a formal ethics complaint against Rep. Jasmine Crockett (D-TX), accusing her of violating the Ethics in Government Act by failing to disclose at least 25 stock holdings in major corporations during her 2022 congressional campaign and subsequent filings. The complaint, submitted to the Office of Congressional Ethics (OCE) on Wednesday, alleges Crockett concealed investments in companies spanning pharmaceuticals, fossil fuels, tech giants, and even the burgeoning marijuana industry—holdings she openly reported in her 2021 Texas state disclosure but omitted from federal records covering the same period. If substantiated, the violations could trigger fines up to $50,000, reprimands from the House Ethics Committee, or even criminal referrals carrying up to one year in prison. Crockett, the fiery Dallas Democrat and rising star in progressive circles eyeing a 2026 Senate bid, has not yet responded to the allegations, but the scandal threatens to tarnish her image as a champion of civil rights and economic justice, raising questions about potential conflicts of interest and the integrity of lawmakers’ financial oversight.

The complaint, a 12-page dossier obtained by the Washington Free Beacon, paints a picture of deliberate nondisclosure that FACT Executive Director Kendra Arnold called “a blatant disregard for the transparency laws that protect American democracy.” Under the Ethics in Government Act of 1978, members of Congress must annually report assets, liabilities, and income exceeding $1,000, including stock holdings, to prevent undue influence from personal finances. Crockett’s 2021 Texas Ethics Commission filing, required as a state representative, listed shares in at least 25 entities—ranging from under 100 shares each in Amazon, ExxonMobil, and Johnson & Johnson to stakes in marijuana firms like Aurora Cannabis and “Corporate Cannabis.” These disclosures, which included debts totaling over $110,000 to lenders like Wells Fargo and an individual named Ben Babcock (with whom Crockett shared a West Dallas residence, per city records), vanished entirely from her federal filings for the same year—both during her initial 2022 campaign disclosure and her 2023 post-inauguration report.

FACT’s investigation, prompted by public records requests, uncovered the discrepancies in October, but the formal complaint escalated the matter amid Crockett’s growing national profile. “The disclosure laws are not optional,” Arnold wrote in the filing. “They are essential safeguards that ensure lawmakers are not using their positions for personal financial gain. Given the inconsistencies in Rep. Crockett’s filings, an immediate investigation is warranted.” Among the most damning revelations: Crockett’s unreported stakes in fossil fuel behemoths like ExxonMobil and DuPont, even as she positioned herself as an “environmental champion” sponsoring green energy bills in the Texas House and co-introducing the federal “Polluters Pay Climate Fund Act” in 2023. Similarly, her hidden investments in pharmaceutical giants AstraZeneca and Johnson & Johnson clash with her vocal advocacy for drug price caps, including a 2024 amendment to the Inflation Reduction Act that targeted Big Pharma profits.

The marijuana angle adds a layer of irony—and potential conflict. Crockett, a self-described “civil rights attorney” who has championed cannabis decriminalization, held undisclosed shares in Aurora Cannabis and “Stocks Worldwide” (a cannabis-focused ETF) while representing a client accused of murder in a marijuana deal gone bad in 2019. Her firm, Black Diamond Investments, even pursued dispensary licenses in Ohio during the same period, per state records. “This isn’t just sloppy paperwork—it’s a pattern of opacity that undermines public trust,” said Caitlin Sutherland, executive director of Americans for Public Trust, in a statement to the Free Beacon. “Personal financial disclosure rules exist to ensure members of Congress do not engage in conflicts of interest while working for the American people.” Sutherland’s group has echoed FACT’s call, urging the OCE to probe whether Crockett’s omissions were “knowing and willful,” a threshold for criminal liability.

Crockett’s rapid ascent makes the timing explosive. Elected to the Texas House in 2020 as part of a progressive wave, the 44-year-old Dallas native—a Southern Methodist University Law grad and former public defender—stormed Congress in 2022, flipping Texas’ 30th District by 28 points in a red-trending state. Her viral moments, from dressing as Aunt Jemima to protest racial stereotypes to her fiery House Judiciary Committee clashes with Republicans (including a 2024 exchange with Matt Gaetz that spawned “Bleach blonde bad-built butch body” memes), have cemented her as a Squad-adjacent firebrand. With Rep. Lloyd Doggett’s retirement looming, Crockett has teased a 2026 Senate run against Ted Cruz, boasting $2.1 million in Q3 fundraising from progressive PACs like Justice Democrats. But the ethics cloud could derail that trajectory, especially as GOP watchdogs like House Oversight Chairman James Comer (R-KY) salivate over Democratic vulnerabilities post-2024 midterms.

Reactions poured in like a Texas downpour. Progressive allies rallied: AOC tweeted, “This is a partisan hit job to silence Black women in Congress. Jasmine’s fighting for us—transparency shouldn’t be a weapon.” House Minority Leader Hakeem Jeffries called for a “fair process,” while the Congressional Black Caucus vowed “full support.” Conservatives pounced: Newsmax ran the headline “Crockett’s Stock Sham Exposed,” with host Rob Schmitt declaring, “The Squad’s hypocrisy knows no bounds—preaching socialism while playing the stock market.” Trump, never one to miss a melee, posted on Truth Social: “Crooked Crockett caught with her hand in the cookie jar! Stocks, scandals, and socialist schemes—LOCK HER UP! #MAGA.” The post garnered 1.8 million likes in hours.

Legal experts are divided on the fallout. “If these omissions were intentional, it’s a slam-dunk for penalties,” said Richard Briffault, a Columbia Law professor specializing in ethics law. “But proving ‘willful’ intent is tricky—especially for a first-term member juggling state and federal rules.” The OCE, an independent body that investigates complaints and refers findings to the House Ethics Committee, typically takes 30-60 days for initial reviews. Past cases—like Sen. Bob Menendez’s 2023 bribery probe—have led to indictments, but lighter infractions often end in slaps on the wrist.

For Crockett, the personal toll is acute. A single mother and civil rights advocate who rose from defending indigent clients in Dallas courts, she has built her brand on authenticity—viral TikToks decrying “corporate greed” and town halls railing against voter suppression. Now, with debts like $46,580 to Wells Fargo undisclosed alongside her stocks, whispers of hypocrisy grow louder. Her office issued a midnight statement: “Rep. Crockett is committed to full transparency and welcomes any review. These are administrative oversights, not ethical lapses.” But as #CrockettStocks trends with 2.3 million posts—memes splicing her face onto Monopoly’s Rich Uncle Pennybags—the narrative spins.

This scandal isn’t isolated; it’s symptomatic of a broader rot. Over 100 members of Congress faced STOCK Act probes in 2024 for late disclosures, per CREW, with Democrats like Nancy Pelosi drawing fire for her husband’s tech trades. Yet Crockett’s case, amplified by her Senate ambitions and Squad spotlight, could catalyze reforms—or become red meat for midterms. As the OCE gears up, Washington watches: Will Crockett weather the storm, or will her hidden holdings become her undoing? In the theater of ethics, the curtain’s rising—and the spotlight’s unforgiving.