Labor Department official divests Amazon stock after financial disclosure: reports
Daniel Koh, the Department of Labor’s chief of staff, owned Amazon shares worth between $100,000 and $250,000
Small businesses fight Amazon for consumer dollars
Former investment banker Carol Roth discusses the state of retail on 'Fox Business Tonight'
Daniel Koh, the Department of Labor’s chief of staff, divested his holdings in Amazon on Friday after his personal financial disclosures revealed he owned a significant stake in the e-commerce giant, according to multiple reports.
The financial disclosures, obtained by the Revolving Door Project, showed that Koh owned Amazon shares worth between $100,000 and $250,000.
A Department of Labor spokesperson said Koh sold the shares after his stake was disclosed, news outlet Motherboard reported.
A department spokesperson told the Huffington Post that Koh made his disclosures as required and as "awaiting the standard guidance from DOL's ethics lawyers on potential conflicts of interest."
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| AMZN | AMAZON.COM INC. | 195.78 | -2.15 | -1.09% |
CLICK HERE TO READ MORE ON FOX BUSINESS
Koh’s stake represented a potential conflict of interest because the Department of Labor enforces workplace health and safety standards and Amazon has been accused of safety violations.
The Department of Labor did not immediately respond to a request for further comment.
GET FOX BUSINESS ON THE GO BY CLICKING HERE
Labor Secretary Marty Walsh tapped Koh to serve as his chief of staff in February. Koh previously held the same post when Walsh was mayor of Boston.
