Elizabeth Warren and others urge investigation over ‘clear conflict of interest and potential criminal violation’

Employees of Elon Musk’s DOGE own lucrative stock in companies that stand to directly benefit from their work gutting federal agencies, Democratic senators have alleged.

The potential ethics violations merit an investigation by the justice department and other oversight bodies, urges a letter co-authored by senators Elizabeth Warren of Massachusetts, Ron Wyden of Oregon and Jack Reed of Rhode Island and obtained by the Guardian.

Recent media reports have alleged that their actions aligned with the financial interests of the companies in which they held stock. This could constitute violations of an ethics law that prohibits federal employees from participating in matters in which they have a personal financial interest. A wilful violation of this law carries penalties including fines and imprisonment.