(NewsReady.com) – In February, before the stock market took a dive, a handful of senators sold off stocks. They’re facing accusations of insider trading by pundits across the country. Now, we know that at least one of them is under investigation by the Department of Justice (DOJ).
Sen. Richard Burr (R-NC) is currently under the DOJ’s magnifying glass. He sold 33 stocks held by him and his spouse, valued between $628k and $1.7 million. The Washington Post claims the sell-off was unusual because it was the largest amount of stock he’s sold in a single day since at least 2016. That doesn’t mean that he was acting on information that he’d obtained in an official capacity, but it made people raise their eyebrows.
Even Rep. Matt Gaetz (R-FL) was highly critical of his Republican colleague during a segment on FOX News. The congressman went as far as calling Burr “the swamp.”
It's unbelievable that the committee chairman with oversight of the FBI is being investigated by the FBI.
I'm shocked more Republicans are not saying this. It makes us all look less credible when we tell the American people @SenatorBurr's the best we have to review intelligence. pic.twitter.com/PZYLWars35
— Rep. Matt Gaetz (@RepMattGaetz) March 31, 2020
The Securities and Exchange Commission (SEC) is coordinating with the DOJ to uncover what exactly happened in Burr’s case, as well as others. Currently, spokespersons for the DOJ and SEC have refused to comment on the matter. Meanwhile, Burr has asked for the Senate Ethics Committee to do a full investigation into the matter and has stated he’ll cooperate with that process. He also denies all of the allegations against him.
Burr may be the first to feel the pressure from his recent stock market decisions, but he almost certainly won’t be the last.
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