Top Aide to Gov. Brown investigated for owning up to $1 million in PG&E stocks

Mar 24, 2016 9:51 PM by Staff

SACRAMENTO, Calif. (AP) - California's political watchdog says it is opening an investigation into whether a top aide to Gov. Jerry Brown properly disclosed her stock holdings in Pacific Gas & Electric Corp.

The Fair Political Practices Commission said Thursday that it will investigate a report alleging that Nancy McFadden, a former PG&E executive, failed to disclose the status of her stock ownership.

But the commission says it did not find enough evidence to consider a more serious allegation, that McFadden had a conflict of interest because of her stock holdings.

The advocacy group Consumer Watchdog made several allegations in its complaint. Among them was that McFadden failed to report when she sold most of her stock.

McFadden reported owning between $100,000 and $1 million in PG&E stock in 2011, 2012 and 2013.


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