After Coronavirus Briefings, Sens. Richard Burr, Kelly Loeffler Dumped Stocks

Saturday, 21 Mar, 2020

Earlier on Thursday, ProPublica revealed that Sen.

Burr, chairman of the Senate Intelligence Committee, sold off up $1.72 million of his holdings on February 13 after receiving briefings on the then-impending pandemic. He didn't even disavow an op-ed he'd written just 10 days before claiming America was "better prepared than ever" for coronavirus. And the New York Times notes that Democratic Sen.

Senator Dianne Feinstein, also a member of the Senate Intelligence Committee, sold off between $1.5 and $6 million in stocks in a pharmaceutical company between 23 January and 18 February.

He reportedly likened the spread of COVID-19 to the 1918 pandemic. Burr "got private briefings about Coronavirus weeks ago".

"I want to set the record straight: This is a ridiculous & baseless attack", Loeff wrote in a tweet."I don't make investment decisions for my portfolio".

The reports on Burr, a respected Republican veteran of the Senate who is retiring in January, added fuel to accusations that Trump and the United States leadership knew of the serious threat but delayed action that could have curbed the spread of infections. "Loeffler needs to resign, too". "Tucker Carlson Tonight" will have more on the story on Friday. In addition to the sales, Loeffler and her husband also purchased between $100,000 and $250,000 in Citrix, a firm that makes teleworking software and has seen its value go up as Americans are directed to work from home.

Loeffler - who was appointed to her seat by Georgia's Republican governor, Brian Kemp, after the resignation of Johnny Isakson - is running for re-election to complete the remaining two years of Isakson's term. "If the evidence suggests they engaged in insider trading, they should be charged and stand trial". Several of the stocks were in companies that own hotels. "I find them to be honorable people".

ProPublica reports: Soon after he offered public assurances that the government was ready to battle the coronavirus, the powerful chairman of the Senate Intelligence Committee, Richard Burr, sold off a significant percentage of his stocks, unloading between $628,000 and $1.72 million of his holdings on February 13 in 33 separate transactions.

"He had inside information about what could happen to our country, which is now happening". But he didn't warn the public.

He later added: "Instead, what did he do?"

"Maybe there's an honest explanation for what he did".

Loeffler is the second Republican Senator accused of insider trading on Coronavirus information. He's right. And it's not a partisan issue.

Burr sent the tweets ahead of reports of his stock sales.

Newsweek has contacted the offices of both senators for comment, and will update this article with any response.

Some of the sales that were highlighted on social media, such as those by Sen.

"I'm happy to answer any and all questions and would submit to whatever review is needed", she said on CNBC's "The Exchange", as she emphasized that her and her husband's stocks are controlled by third-party managers with whom she has no contact.

Two weeks after Barr and his wife sold stock, NPR reports Barr sounded the alarm about the virus at a private event.