Debt ceiling deal and pipeline approval raise insider concerns.

1 min read
Source: Business Insider
Debt ceiling deal and pipeline approval raise insider concerns.
Photo: Business Insider
TL;DR Summary

A mystery trader made a $7.5 million profit on Equitrans Midstream call options just days before the announcement of the inclusion of the Mountain Valley Pipeline in the debt ceiling deal. The timing of the trade has raised suspicions of insider trading, as the pipeline's inclusion was kept secret until the deal was announced. Congress members are prohibited from trading on confidential information, but a 2021 investigation found repeated violations of the STOCK Act. Ethics watchdogs are calling for an investigation into the matter.

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