Poliquin Questions Former Equifax Boss
Maine U.S. Rep. Bruce Poliquin grilled the former CEO of Equifax, Richard Smith, at a hearing on last month’s breach of Equifax computers that compromised the private information of more than 140 million Americans.
The 2nd District Republican said he was concerned by reports that several top executives at the company sold stock in the company before the public was aware that the company's computers had been hacked.
“Did you sell any of your stock between the time when the breach was learned on the inside and when you announced it to the public, when everybody else in America had that information?" Poliquin asked Smith.
"No, sir,” Smith replied.
Poliquin told Smith he found it hard to believe that the former CEO did not know that top executives were selling stock based on the data breach, something illegal under federal law banning insider trading. He urged passage of laws to give consumers more protection from such schemes.