Power Underreported Investments by Nearly $1 Million Ahead of Senate Confirmation, Complaint Alleges

Watchdog group calls for ethics investigation into USAID chief

U.S. Agency for International Development administrator Samantha 
Power in her financial disclosure report significantly underreported 
the value of her investments, a discrepancy that could have 
prevented the Senate from accurately vetting her financial records, 
according to a formal complaint filed with the Office of Government 
Ethics.

Power lowballed the amount she held in a Cayman Islands-based 
investment fund by nearly $1 million. She said she held a stake in 
the fund valued between $50,000 and $100,000, according to a copy of 
her financial disclosure report filed in February ahead of her 
Senate confirmation and reviewed by the Washington Free Beacon. But 
when she sold off the holding in June, as required by a federal 
ethics agreement, Power listed the sale as between $1,000,001 and 
$5,000,000—at least 10 times higher than the value four months 
before, according to the American Accountability Foundation watchdog 
group, which filed the ethics complaint.

The group is calling on the Office of Government Ethics to 
investigate the disparity and says Power may have run afoul of 
ethics laws.

"As the head of a government agency, Administrator Power is expected 
to be above reproach and to comport to the highest level of ethical 
behavior," said Matthew Buckham, the leader of the American 
Accountability Foundation, in a Monday letter to Office of 
Government Ethics director Emory Rounds. "Due to the large 
discrepancy between Ms. Power's initial reporting prior to her 
confirmation and the report filed at the sale of her assets, we urge 
the Office of Government Ethics to investigate the matter for any 
potential misconduct that may have occurred."

Buckham said the difference could be due to Power's assets' growing 
in value but noted that the increase was significant enough to 
warrant investigation.

"Ms. Power needs to answer whether she had prior knowledge of the 
value of her asset with The Social+Capital Partnership GP III, L.P. 
and why she reported it significantly lower than what she obtained 
from the sale," said Buckham.

USAID did not respond to a request for comment.

As a federal nominee, Power was required to disclose the "identity 
and category of value" of any property or investments held in the 
previous calendar year that has a "fair market value which exceeds 
$1,000," according to federal law. Individuals who intentionally 
falsify or omit information on the financial disclosure form can be 
subject to a fine of up to $50,000 and prison time of up to one 
year.

Power, a former Obama administration official, has served as the 
administrator of USAID since May, where she oversees the 
distribution and monitoring of over half of the foreign aid budget.

The Social+Capital Partnership GP III, L.P. is a Cayman Islands-
based private equity fund connected to Social Capital, a Silicon 
Valley venture capital firm founded by tech investor Chamath 
Palihapitiya. The firm has investments in startup companies around 
the world and close connections with Democratic Party insiders. Bill 
and Hillary Clinton son-in-law Marc Mezvinsky was a vice chairman at 
Social Capital.

In addition to Power's stake in the fund, she also served as an 
adviser to Social Capital until she stepped down to become USAID 
administrator. Secretary of State Antony Blinken held a six-figure 
investment and advisory role with the company until earlier this 
year.

Power was at the center of several controversies during the Obama 
administration. As ambassador to the United Nations toward the end 
of the Obama administration, she reportedly "unmasked" the names of 
hundreds of Americans identified in  intelligence reports—a practice 
that some congressional Republicans say was abused to target Trump 
campaign officials and Democrats' other adversaries.

During Power's confirmation, she was grilled by Sen. Chuck Grassley 
(R., Iowa) over allegedly trying to get a terror-designated charity 
group, the Islamic Relief Agency, removed from the U.S. sanctions 
list.


https://freebeacon.com/biden-administration/power-underreported-
investments-by-nearly-1-million-ahead-of-senate-confirmation-
complaint-alleges/