Justice Department Looking Into Senator’s Stock Sell-Off

Senate Intelligence Committee Chairman Richard Burr sold off a large amount of stocks before the coronavirus market crash, and now the Justice Department is looking into his statements around this time period, NPR can report.

Media outlets including CNN, The Wall Street Journal and The Associated Press have also reported that the FBI has reached out to Burr to assess whether he made stock sales based on nonpublic information.

NPR first broke news of a secret recording in which Burr, R-N.C., privately warned well-connected constituents in February about how bad the coronavirus crisis would become. . .

As chairman of the Intelligence Committee and a member of the Health, Education, Labor and Pensions Committee, Burr may have received private information about the coming pandemic.

“Was [that information] something that you and I, if we were shareholders of that company, would have reasonably expected it to be considered significant at the time?” said Doug Davison, a former Securities and Exchange Commission enforcement lawyer, laying out a key question that investigators would have. “The investigation needs to be surgical in the sense that you need to really focus like a laser on what information was provided to the Congress folks. Was it material? Was it nonpublic?” (Read more from “Justice Department Looking Into Senator’s Stock Sell-Off” HERE)

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