New documents detail more than a dozen conflicts of interest Postmaster General DeJoy faced because of his and his family’s investments in a number of companies closely tied to the U.S. Postal Service.
faced because of his and his family’s investments in a number of companies closely tied to the U.S. Postal Service.
A federal employee cannot hold stocks that have an aggregate market value of more than $15,000 in any company without recusing or divesting themselves from it, according to federal code. The documents state that DeJoy and his family’s investments in those 13 companies all exceeded that amount, but they do not provide a definitive value.
“Everybody knows that he has these interests,” he said. “And so even then there are going to be potentially incentives, even if he’s not in the room, for others to make decisions that could benefit him.” Recusal and divestiture are commonplace for federal employees to resolve a potential conflict of interest. Recusal, according to the federal code, bars officials from acting on contracts, claims, drafting regulations or making determinations that could affect their financial interests, and it also prohibits them from “direct and active supervision” of a subordinate in matters concerning their holdings.
“When and how he divested reflects the process he was instructed to follow by the Postal Service ethics office in compliance with federal ethics regulations,” Postal Service spokesman David Partenheimer said in a statement. “Additionally, the Postmaster General’s divestiture was fully approved by the Office of Government Ethics.”
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