The House Ethics Committee released a 23-page report on Friday detailing the investigation into Republican Rep. Mike Kelly of Pennsylvania over allegations of insider trading. Although the report largely cleared Kelly of these allegations, the committee found "substantial evidence" that he violated the Code of Official Conduct.

Kelly was first subject to investigation in July 2021 over allegations that his wife purchased a steel company's stock "based on confidential or material nonpublic information" the lawmaker learned during his "official job duties."

'My family and I look forward to putting this distraction behind us.'

After four years of investigation, the Office of Congressional Conduct found that there was "substantial reason to believe" the stock purchase was made based on the confidential information Kelly would have learned in his official capacity. However, the report also noted that the OCC "cannot definitively say what Representative Kelly and his wife knew about these developments and when they knew them" due to the "lack of cooperation" from Kelly, his wife, and his then-chief of staff.

"The Committee is particularly concerned with Representative Kelly's actions during the Committee's investigation — most notably the fact that his wife made an additional purchase of stock in the same company during the pendency of the investigation, Representative Kelly did not timely disclose that purchase, and he failed to respond to Committee questions regarding the purchase," the report reads.

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"As discussed further below, the Committee determined that Representative Kelly (and his wife) should divest of any stock in the company before Representative Kelly takes any further official actions directly related to that company," the report continues. "Additionally, the Committee found that Representative Kelly's failure to acknowledge the seriousness of the alleged misconduct and the Committee's investigation violated clause 1 of the Code of Official Conduct."

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In a statement obtained by Blaze News, Kelly insisted the investigation was just a "distraction."

"This investigation has unnecessarily lasted for nearly five years," Kelly said in the statement. "In the years since this investigation began, the Cleveland-Cliffs Butler Works plant faced an uncertain future due to the Biden administration's reckless energy policies. Throughout this process, I have fought for the 1,400 workers at the plant, I've spoken with these workers, and they appreciate the hard work we have done to fight for those jobs and for Butler."

"My family and I look forward to putting this distraction behind us."

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