Florida Chief Financial Officer Investigated for Stock Dealings

Tom Gallagher, who's running for governor, invested millions in insurance stock during his final year as insurance commissioner.

He also bought and sold $1 million worth of stock in a natural gas pipeline company that was seeking permits from the Cabinet.

Gallagher denies wrongdoing, and Gov. Bush backs him up.

Gov. Jeb Bush says, "I think people running for office ought to go beyond what the requirements are of the law, and what Tom has done, he has given, as I understand it, a financial statement and tax returns going way back. So the very fact that you are knowledgeable about that is because he’s been transparent to his credit.”

Gallagher says there’s no conflict because he has sold off all his stock.