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Kevin Bass filed a 239-page public-records ethics complaint against Rep. Ro…
Brief
Kevin Bass's public-records audit accuses Representative Ro Khanna (D-CA, 17th District) of systematic ethical lapses and potential criminal insider trading across six detailed counts. Bass delivered a 239-page complaint with 30 exhibits and a reproducibility kit on GitHub (run via Python 3 with a single command, OpenTimestamps proofs, optional OCR re-run) so anyone can verify his claims. He alleges Khanna's household made 37,238 trades (114 filings) almost entirely through spouse or dependent accounts, producing a midpoint estimate of ~$61 million in proceeds and ~$28 million of alpha versus a basic index. Key allegations: 624 late disclosures (one 358 days late); coordinated buys in defense contractors ahead of NDAA actions and contract awards (including Palantir trades coincident with a $4.88B contracting era and six May 10, 2022 dependent-child Palantir trades); 1,244 pharma trades clustered within ±14 days of 14 drug-pricing actions (including a 286-trade rebalance on Aug 2, 2024 ahead of a negotiated-price list on Aug 15); 186 same-day trades with issuer 8-K filings and 86 same-day trades aligned with company officers. Bass also flags donations from five ex-officials-turned-lobbyists, a $45M Ahuja family foundation omitted from disclosures, a missing Dover, DE rental-property disclosure, and spouse Goldman Sachs margin loans/options activity he says negate any blind-trust defense. His remedies sought include House Ethics, DOJ, and FEC referrals, disgorgement (including return of ~$28M in alpha), a qualified blind trust, and recusal from relevant committee matters.
Why it matters
Kevin Bass filed a 239-page public-records ethics complaint against Rep. Ro Khanna (D-CA, 17th District) claiming Khanna's household made 37,238 reported trades across 114 filings and that the household earned between $15 million and $108 million from those trades (middle estimate ~$61 million) with about $28 million in market-beating 'alpha'; 99.997% of the trades are reported in the spouse (Ritu Ahuja Khanna) or dependent child accounts.
Key details
- Count 1: 624 late disclosures out of ~36,000 auditable trades (one trade reported 358 days late); Bass's composite score places Khanna in the top 7% of the House for dollars concealed by late reporting and asks for civil penalties, a qualified blind trust, and an Ethics Committee finding under House Rule XXIII.
- Counts 2–3 (defense and healthcare): Bass alleges coordinated buys ahead of government actions — e.g., 7 defense buys 12 days before the 2018 NDAA, Palantir trades coincident with federal contract awards (including May 10, 2022), and 1,244 pharmaceutical trades clustered ±14 days around 14 drug-pricing actions; he claims ~$5.4 million from defense trades and asks for DOJ referral and disgorgement.
- Count 4: 186 household trades same-day as issuer 8-K filings and 86 same-day aligned officer trades; Khanna ranks 1st of 96 House members on same-day-8-K absolute count (4.3× the second-place Member) and 4,595 pharma trades within 14 days of FDA advisory meetings (rank 1 of 66).
- Counts 5–6: Five ex-government officials-turned-lobbyists donated to Khanna (their employers gave $365,140 across 264 contributions); Bass alleges nondisclosure of the Ahuja Charitable Foundation (~$45M) on Khanna filings, a missing Dover, DE rental-property disclosure, and Goldman Sachs margin loans/options activity that he says disproves any blind-trust claim; he requests referrals to House Ethics, DOJ, and FEC, recusal from CMS/FDA/defense matters, and disgorgement of alleged ill-gotten gains.