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Sen. Feinstein Loaded up on Biotech Stock Just Before Company Received $24 Million Gov’t Grant

Posted on | November 19, 2011 | 5 Comments

In the new blockbuster tell-all Throw Them All Out, investigative reporter and Breitbart editor Peter Schweizer reveals that on November 18, 2009, Sen. Feinstein and her husband invested $1 million into Amyris Biotechnologies, a “green” company focused on plant-based renewable fuels and chemicals. The Feinsteins’ million-dollar investment was their only stock transaction for the entire year.
Feinstein, however, had good reason to feel that all her investment eggs were secure in the biotech basket, because just weeks after her seven-figure investment in Amyris, the company scored a $24 million grant from the Department of Energy (DOE) to build a pilot plant where altered yeast would turn sugar into hydrocarbons.
The company went public the following year with an IPO that raked in $85 million. Currently, it’s unclear exactly how much money Senator Feinstein and her husband made off their investment, “but it’s safe to assume that they did well,” concludes Schweizer.
Do we know for certain that Feinstein’s willingness to bet $1 million bet on Amyris was the result of insider knowledge that the DOE’s $24 million infusion of federal funds was forthcoming? No, not without further investigation. That, argues Schweizer in Throw Them All Out, is why insider trading laws should apply to members of Congress and trigger the kinds of SEC investigations to which ordinary investors must submit. https://biggovernment.com/whall/2011/11/15/sen-feinstein-loaded-up-on-biotech-stock-just-before-company-received-24-million-govt-grant/

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Comments

5 Responses to “Sen. Feinstein Loaded up on Biotech Stock Just Before Company Received $24 Million Gov’t Grant”

  1. Leslie Simmons
    November 19th, 2011 @ 4:48 pm

    Dear Orly, is there a law that makes it legal for Congress to do inside trading???? iF NOT THESE PEOPLE SHOULD BE HELD ACCOUNTABLE FOR THEIR ACTIONS…I BET MARTHA STEWART IS NOT TO HAPPY WITH THIS?????

  2. Brian
    November 19th, 2011 @ 5:57 pm

    Martha Stewart can tell all about jail time for this.

  3. Patty
    November 19th, 2011 @ 10:09 pm

    It wasn’t insider knowledge. It had been publicly disclosed a year before the IPO. The company went public in 2010. The DOE grant was announced in 2009 and bloggers who follow greentech companies were blogging about in December 2009.

  4. Mike D
    November 20th, 2011 @ 2:37 pm

    Senator Diane Feinstein (Socialist, California), is one of the most corrupt members of congress. She also has a history of diverting defense contracts to her husband’s company.

    She pulled strings to get a concealed weapon’s permit in California, but is against law abiding citizens having one.

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