Congressmen urge SEC to investigate Facebook for facilitating wildlife trafficking

Congressmen urge SEC to investigate Facebook for facilitating wildlife trafficking, Friday, May 18, 2018

Powerful members of Congress are now pushing the Securities and Exchange Commission to investigate Facebook.

In a letter to the SEC, Reps. Raul Grijalva and Jared Huffman suggest that Facebook is breaking laws that require public companies to protect shareholders and prevent illegal activity.

Grijalva and Huffman say that Facebook’s inaction on the issue "has facilitated rampant criminal trafficking of vulnerable and endangered species on its platform."

It goes on to say Facebook knowingly profits from ads promoting the sale of illegal products like ivory, rhino horn, bear claws, tiger skins and reptiles.

Attorney Stephen Kohn filed the original complaint.

“US investors need to know that if they invest a thousand dollars in Facebook, guess what?” Kohn said. “They're investing in a company that is driving a worldwide extinction crisis, that has refused to implement internal controls which are required under sec rules that would prevent criminal activity."

The congressmen say Facebook has not adequately addressed the concerns raised in the SEC complaint, and urges an investigation for what it says is Facebook's "willingness to profit from the illegal trafficking of endangered species."

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