Public Citizen says Stephen Miller's disclosures misreport his family's 2025 stock sales; the White House says he complies with ethics rules
Public Citizen says Stephen Miller's disclosures understate at least 10 of 27 stock sales his family made in August 2025 and leave about $1.4 million unexplained. The White House says Miller complies with all ethics requirements.
Case period:
Published by The Dispute Index editorial teamPublished Updated
Overview
On October 30, 2026, Public Citizen published an analysis saying Stephen Miller's financial disclosures appear to misreport stock sales his family made on August 14, 2025. It says the reported values of at least 10 of 27 sales are too low to match the shares the Office of Government Ethics certified for sale, and that about $1.4 million in his children's accounts is not accounted for in his filings. The White House says Miller complies with all ethics requirements. Public Citizen asks the Office of Government Ethics to review the filings.
Read the full background
Stephen Miller, the White House deputy chief of staff, files public financial disclosure reports with the U.S. Office of Government Ethics. His family sold stakes in nearly two dozen companies on August 14, 2025, two days after the office issued certificates of divestiture to members of the family. Miller reported the sales on a periodic transaction report (opens in a new tab) he signed on August 29, 2025, which lists each sale in a value range.
In December 2025, The New York Times reported that the sales included $50,000 to $100,000 of shares in MP Materials, a month after the Trump administration agreed to invest in the company. White House spokesperson Abigail Jackson told the paper there were no conflicts of interest and that Miller had fully divested early in the administration in coordination with the Office of Government Ethics.
Public Citizen's October 30, 2026 report (opens in a new tab), written by Zach Everson, compares the certificates with three of Miller's filings, each certified by a White House ethics official. It says that in at least 10 of the 27 sales, the reported value is too low for the certified number of shares at any price the stock traded that day. The largest gap it lists is MP Materials: 3,000 shares it says were worth at least $223,000, reported in the $50,000 to $100,000 range. It also says the shares certified for sale from the children's custodial accounts were worth about $1.4 million that day, while Miller's annual report for 2025 shows each account holding $1,000 to $15,000 in cash at year end, plus Spotify shares in one, and that no other transaction report from Miller is available. White House deputy counsel Scott Gast certified that annual report on September 3, 2026.
Public Citizen says it is unclear whether the discrepancies result from sloppiness, bureaucratic error or another explanation, and asks the Office of Government Ethics to review the filings and require Miller to explain them. White House spokeswoman Lauren Bis told Public Citizen that Miller complies with all ethics requirements. Public Citizen says she did not address the specific inconsistencies.
People in this case
Stephen MillerDirectly involved
Timeline
6 timeline entries on this page. Dates: August 12, 2025 to October 30, 2026
August 2025
Ethics office issues certificates of divestiture to Miller's family
The Office of Government Ethics issues certificates of divestiture listing the shares members of Miller's family must sell.
[01]Public Citizen
Public Citizen report published October 30, 2026, comparing the certificates of divestiture the U.S. Office of Government Ethics issued to Stephen Miller's family with three of his financial disclosure filings. It includes a statement from White House spokeswoman Lauren Bis and asks the Office of Government Ethics to review Miller's filings.
Rules for Thee: Stephen Miller's Paperwork Problem · Public CitizenFull report, including the appendixMiller's family sells its stock holdings
Incident
Miller and his family sell shares in companies including MP Materials, Intel and Amazon, according to his transaction report.
[02]The White House
Miller's periodic transaction report listing stock sales made by him and his family on August 14, 2025, in value ranges. It was signed by Miller on August 29, 2025, certified by White House ethics official Scott Gast on October 28, 2025, and certified by the Office of Government Ethics on November 25, 2025. Copy posted on the White House website.
Stephen Miller periodic transaction report (OGE Form 278-T), August 29, 2025 · The White HouseTransactions list[01]Public Citizen
Public Citizen report published October 30, 2026, comparing the certificates of divestiture the U.S. Office of Government Ethics issued to Stephen Miller's family with three of his financial disclosure filings. It includes a statement from White House spokeswoman Lauren Bis and asks the Office of Government Ethics to review Miller's filings.
Rules for Thee: Stephen Miller's Paperwork Problem · Public CitizenFull report, including the appendixMiller signs his transaction report
Source release
Miller signs a periodic transaction report listing the August 14 sales in value ranges. A White House ethics official certifies it on October 28, 2025.
[02]The White House
Miller's periodic transaction report listing stock sales made by him and his family on August 14, 2025, in value ranges. It was signed by Miller on August 29, 2025, certified by White House ethics official Scott Gast on October 28, 2025, and certified by the Office of Government Ethics on November 25, 2025. Copy posted on the White House website.
Stephen Miller periodic transaction report (OGE Form 278-T), August 29, 2025 · The White HouseTransactions list
December 2025
The New York Times reports Miller's MP Materials sale
Source release
The Times reports that Miller sold $50,000 to $100,000 of MP Materials shares a month after the administration's deal with the company. The White House says there are no conflicts of interest.
[03]The New York Times
New York Times report, republished by the Las Vegas Sun on December 10, 2025, on Miller's August 2025 sale of MP Materials shares after the government's deal with the company. It quotes White House spokesperson Abigail Jackson and Public Citizen co-president Robert Weissman.
Stephen Miller faces ethics concerns over stock sale of Las Vegas mining company · The New York Times
September 2026
White House ethics official certifies Miller's annual report
White House deputy counsel Scott Gast certifies Miller's annual financial disclosure report covering 2025, which Miller signed on June 28, 2026.
[04]The White House
Miller's annual financial disclosure report covering 2025, signed by Miller on June 28, 2026 and certified by White House ethics official Scott Gast on September 3, 2026. Copy posted on the White House website.
Stephen Miller annual financial disclosure report (OGE Form 278e), report year 2026 · The White HouseSignature and certification block; Parts 2 and 6[01]Public Citizen
Public Citizen report published October 30, 2026, comparing the certificates of divestiture the U.S. Office of Government Ethics issued to Stephen Miller's family with three of his financial disclosure filings. It includes a statement from White House spokeswoman Lauren Bis and asks the Office of Government Ethics to review Miller's filings.
Rules for Thee: Stephen Miller's Paperwork Problem · Public CitizenFull report, including the appendix
October 2026
Public Citizen publishes its analysis of Miller's filings
Claim
Public Citizen says Miller's filings appear to misreport stock sales and leave about $1.4 million in his children's accounts unexplained, and asks the Office of Government Ethics to review them.
[01]Public Citizen
Public Citizen report published October 30, 2026, comparing the certificates of divestiture the U.S. Office of Government Ethics issued to Stephen Miller's family with three of his financial disclosure filings. It includes a statement from White House spokeswoman Lauren Bis and asks the Office of Government Ethics to review Miller's filings.
Rules for Thee: Stephen Miller's Paperwork Problem · Public CitizenFull report, including the appendix
Claims
Claims separate what was said from what is contested. Follow each source for the original wording and context.
What's disputed
Disputed claim
Public Citizen
In at least 10 of the 27 sales on Stephen Miller's August 2025 transaction report, the reported value is too low to match the shares the Office of Government Ethics certified for sale.
What is disputed
Public Citizen makes this claim in an October 30, 2026 report comparing the certificates of divestiture issued to Miller's family with his disclosure filings. It says the family sold the shares on August 14, 2025, and that about $1.4 million in his children's accounts is not accounted for in his filings. The White House says Miller complies with all ethics requirements.
Sources (2)
- Rules for Thee: Stephen Miller's Paperwork Problem · Public CitizenFull report, including the appendix
- Stephen Miller periodic transaction report (OGE Form 278-T), August 29, 2025 · The White HouseTransactions list
Response record
Responses
Choose one response filter, or select All responses to see the full record.
4 responses. Newest first.
Public CitizenGovernment watchdog group, in a report by Zach Everson, research director of its Trump Accountability ProjectDirectly involvedBefore this statement
The report compares the certificates of divestiture the Office of Government Ethics issued to Miller's family with three of his filings, all certified by a White House ethics official.
"In at least 10 of the 27 sales on Miller's Aug. 29, 2025, transaction report, the reported proceeds are too low to match the shares listed on the certificates of divestiture at any price those stocks traded on Aug. 14, the day of the sales"
CondemnedResponding to: In at least 10 of the 27 sales on Stephen Miller's August 2025 transaction report, the reported value is too low to match the shares the Office of Government Ethics certified for sale.
Full statement and sources
Public Citizen says that in at least 10 of the 27 sales on Stephen Miller's August 2025 transaction report, the reported proceeds are too low to match the shares on his family's certificates of divestiture at any price the stocks traded that day.
After the statement
It says the largest gap is MP Materials, where 3,000 shares it says were worth at least $223,000 that day were reported in the $50,000 to $100,000 range.
Rules for Thee: Stephen Miller's Paperwork Problem · Public CitizenFull report, including the appendixWhy this label?
The reference point is Miller's handling of his family's August 2025 stock sales and how his disclosure filings report them. Public Citizen says the filings misreport at least 10 of the sales and asks the Office of Government Ethics to review them.
This label describes the statement's response within the context above.
The White HouseWhite House, in a statement to Public Citizen from spokeswoman Lauren BisDirectly involvedBefore this statement
Public Citizen says it asked the White House about the discrepancies and whether Miller had filed any transaction reports with the White House that were not forwarded to the Office of Government Ethics.
"The White House regularly works with appointees to provide ethics guidance and help ensure compliance with applicable federal ethics laws and regulations. Stephen Miller complies with all ethics requirements."
DeniedResponding to: In at least 10 of the 27 sales on Stephen Miller's August 2025 transaction report, the reported value is too low to match the shares the Office of Government Ethics certified for sale.
Full statement and sources
Asked by Public Citizen about the discrepancies in Miller's filings, a White House spokeswoman says the White House gives appointees ethics guidance and that Miller complies with all ethics requirements.
After the statement
Public Citizen says Bis did not address any of the specific inconsistencies or say whether any other reports exist.
Rules for Thee: Stephen Miller's Paperwork Problem · Public CitizenFull report, including the appendixWhy this label?
The reference point is Miller's handling of his family's August 2025 stock sales and how his disclosure filings report them. The White House says Miller complies with all ethics requirements, denying a compliance problem without addressing the specific figures.
This label describes the statement's response within the context above.
- The White HouseWhite House, in a statement to The New York Times from spokesperson Abigail JacksonDirectly involved
Before this statement
The Times reports that Miller sold $50,000 to $100,000 of MP Materials shares a month after the Trump administration announced measures to support the company. Jackson says in a statement that "there are no conflicts of interest."
"Stephen fully divested from stock holdings early in the administration in proactive coordination with the Office of Government Ethics on the timeline guidance they provided"
Defended or excusedResponding to: In at least 10 of the 27 sales on Stephen Miller's August 2025 transaction report, the reported value is too low to match the shares the Office of Government Ethics certified for sale.
Full statement and sources
Responding to a report on Miller's sale of MP Materials shares, a White House spokesperson says he fully divested from stock holdings early in the administration, in coordination with the Office of Government Ethics on its timeline guidance.
After the statement
A White House official tells the paper that Miller consulted the Office of Government Ethics before entering the White House, ordered his broker to divest any apparent conflicts, and waited several months for the office to send a divestment plan and the required forms.
Stephen Miller faces ethics concerns over stock sale of Las Vegas mining company · The New York TimesWhy this label?
The reference point is Miller's handling of his family's August 2025 stock sales and how his disclosure filings report them. The White House says Miller fully divested early in the administration in coordination with the ethics office, defending how the sales were handled.
This label describes the statement's response within the context above.
- Public CitizenGovernment watchdog group, through co-president Robert Weissman, quoted by The New York TimesDirectly involved
Before this statement
The Times reports that Weissman said it was not obvious that any ethics laws or rules were violated in the acquisition or sale of the MP Materials shares.
"this is a large investment in an obscure company that just happened to massively benefit from the unusual interventions of the Trump administration"
Mixed or conditionalResponding to: In at least 10 of the 27 sales on Stephen Miller's August 2025 transaction report, the reported value is too low to match the shares the Office of Government Ethics certified for sale.
Full statement and sources
Public Citizen co-president Robert Weissman tells The New York Times it was not obvious that any ethics law was broken in Miller's MP Materials purchase or sale, but calls it a large investment in an obscure company that benefited from the administration's interventions.
After the statement
Weissman adds: "At minimum, it's a really bad look."
Stephen Miller faces ethics concerns over stock sale of Las Vegas mining company · The New York TimesWhy this label?
The reference point is Miller's handling of his family's August 2025 stock sales and how his disclosure filings report them. Weissman says it was not obvious that any ethics laws or rules were violated, but criticizes the holding as a really bad look, a mixed assessment.
This label describes the statement's response within the context above.
Sources
(4)
Original text
Rules for Thee: Stephen Miller's Paperwork Problem
Relevant passage: Full report, including the appendix
About this source
Public Citizen report published October 30, 2026, comparing the certificates of divestiture the U.S. Office of Government Ethics issued to Stephen Miller's family with three of his financial disclosure filings. It includes a statement from White House spokeswoman Lauren Bis and asks the Office of Government Ethics to review Miller's filings.
- Author
- Zach Everson
- Published
- Accessed
Reporting
Stephen Miller faces ethics concerns over stock sale of Las Vegas mining company
About this source
New York Times report, republished by the Las Vegas Sun on December 10, 2025, on Miller's August 2025 sale of MP Materials shares after the government's deal with the company. It quotes White House spokesperson Abigail Jackson and Public Citizen co-president Robert Weissman.
- Author
- Ana Swanson
- Published
- Accessed
Original text
Stephen Miller annual financial disclosure report (OGE Form 278e), report year 2026
Relevant passage: Signature and certification block; Parts 2 and 6
About this source
Miller's annual financial disclosure report covering 2025, signed by Miller on June 28, 2026 and certified by White House ethics official Scott Gast on September 3, 2026. Copy posted on the White House website.
- Author
- Stephen N. Miller
- Published
- Accessed
Original text
Stephen Miller periodic transaction report (OGE Form 278-T), August 29, 2025
Relevant passage: Transactions list
About this source
Miller's periodic transaction report listing stock sales made by him and his family on August 14, 2025, in value ranges. It was signed by Miller on August 29, 2025, certified by White House ethics official Scott Gast on October 28, 2025, and certified by the Office of Government Ethics on November 25, 2025. Copy posted on the White House website.
- Author
- Stephen N. Miller
- Published
- Accessed
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- Publisher
- The Dispute Index
- Title
- Public Citizen says Stephen Miller's disclosures misreport his family's 2025 stock sales; the White House says he complies with ethics rules
- First published
- Last updated
- Permalink
- https://disputeindex.com/cases/public-citizen-stephen-miller-financial-disclosures-stock-sales
The Dispute Index. "Public Citizen says Stephen Miller's disclosures misreport his family's 2025 stock sales; the White House says he complies with ethics rules". First published: 2026-11-01. Last updated: 2026-11-01. https://disputeindex.com/cases/public-citizen-stephen-miller-financial-disclosures-stock-sales