Last Updated: February 10, 2010

Ackerman Stock Inquiry

Rep. Gary Ackerman (D-NY), chairman of the House of Representatives Middle East sub-committee, who, prior to reapportionment represented portions of the North Shore including Locust Valley has issued a statement that he acted properly and didn’t profit from any transaction between defense contractor Xenonics and two Israeli officials, who, with his help, reportedly met in his Washington office. Ackerman’s response was to a Daily News story questioning the connection between the meeting and Ackerman’s no-money down purchase of Xenonics stock in 2002, which he sold for $100,000 in 2005 and 2006. Ackerman maintained that he purchased the stock with $14,000 borrowed from Xenonics major shareholder, Selig Zises, who also contributed $5,200 to Ackerman’s 2008 campaign. Zises reportedly stated in Ackerman’s defense: “What is wrong with somebody trying to help somebody with a government?”

 

---