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John Podesta is facing jail time after it was revealed the former Clinton campaign manager broke federal law by covering up the fact he owned tens of thousands of shares in a Russian bank.
By not declaring the 75,000 Kremlin-backed stock shares before joining Obama’s White House as a special counsellor, Podesta broke federal law.
His fate now lies in the hands of U.S. Attorney General Jeff Sessions.
Title 5 of the U.S. Code stipulates the Attorney General can file a civil action “against any individual who knowingly and willfully falsifies or who knowingly and willfully fails to file or report any information that such individual is required to report.”
Daily Caller reports: Joule Unlimited Technologies — financed in part by a Russian firm — originally awarded Podesta 100,000 shares of stock options when in 2010 he joined that board along with its Dutch-based entities: Joule Global Holdings, BV and the Stichting Joule Global Foundation.
When Podesta announced his departure from the Joule board in January 2014 to become President Obama’s special counsellor, the company officially issued him 75,000 common shares of stock.
The Schedule B section of the federal government’s form 278 which — requires financial disclosures for government officials — required Podesta to “report any purchase, sale or exchange by you, your spouse, or dependent children…of any property, stocks, bonds, commodity futures and other securities when the amount of the transaction exceeded $1,000.”