Lawmakers to SEC: Investigate Private ICE Contractors for Securities Violations
Four House Democrats say publicly traded prison firms may have misled investors about no-bid ICE contracts, whistleblower suppression, and potential insider trading.
WASHINGTON — Four House Democrats are calling on the Securities and Exchange Commission to investigate whether publicly traded companies that operate immigration detention centers have violated federal securities laws through no-bid contracts with Immigration and Customs Enforcement.
In a letter sent Friday, July 25th to SEC Chairman Paul Atkins, Reps. Joe Neguse (D-CO), Pramila Jayapal (D-WA), Bennie G. Thompson (D-MS), and Jamie Raskin (D-MD) request that the agency examine potential failures by detention corporations to disclose material information to investors, potential insider trading, and whether employee whistleblowing has been unlawfully restricted.
“We believe that it is imperative for the SEC to adequately oversee the timely and accurate disclosure of material information from these companies,” the lawmakers wrote.
The letter cites mounting concerns over the rapid expansion of private detention contracts under the Trump administration, many of which have been awarded without …