Treasury Secretary Scott Bessent’s husband held between $100,000 and $250,000 of JPMorgan Chase & Co. (NYSE: JPM) stock that was mistakenly listed as cash in Bessent’s initial financial disclosure, according to a newly certified 2026 ethics filing.
The error was discovered in July 2025. An annotation from Treasury ethics official Mark Vetter states that Bessent’s nominee disclosure “inadvertently” reported the JPMorgan equity position as “US bank #5 (cash)” worth $1 million to $5 million. The filing indicates the position should have appeared as JPMorgan stock valued at $100,000 to $250,000.
Following the discovery, Bessent’s spouse, John Freeman, sold the shares on July 14 for between $100,001 and $250,000. Bessent also paid a $200 late filing fee for failing to report the sale on a periodic transaction report within the required window.
Vetter wrote that the Office of Inspector General reviewed the situation and determined that there was no “knowing violation” of the Ethics in Government Act or federal conflict-of-interest law. The Office of Government Ethics certified Bessent’s annual disclosure on Sept. 22.
The incident follows a broader divestiture process after Bessent entered government. Before confirmation, the former Key Square Group investor pledged to sell holdings that could create conflicts. His nominee disclosure showed assets worth at least $521 million, including a Bitcoin ETF stake. OGE guidance says annual public financial disclosures cover qualifying financial interests belonging to filers, spouses, and dependent children.
