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City Councilman Jim Madaffer has agreed to pay a $500 fine to the Ethics Commission for failing to report investments on his 2002, 2003 and 2004 statements of economic interest.
In 2000 and 2001, the councilman accurately reported his investment in Applied Micro Circuits Corp., USANA Health Sciences and Leap Wireless. But, according to the Ethics Commission, he failed to properly carry those investments forward onto his later statements of economic interest.
The commission didn’t find evidence that Madaffer participated in any decisions involving the companies during that time. The commission said Madaffer helped his case by independently amending the statements later on.
Click here to read the stipulation agreed to by Madaffer and the Ethics Commission.