Republican Sens. Richard Burr and Kelly Loeffler sold off significant amounts in stocks shortly before financial markets plunged due to the coronavirus pandemic, according to reports.
WASHINGTON —Two reports on Thursday revealed that Republican Sens. Richard Burr, N.C., and Kelly Loeffler, Ga., sold off significant amounts in stocks shortly before financial markets plunged because of the coronavirus pandemic.
The senators are reported to have had knowledge about the spread of coronavirus ahead of their sales.reported that Burr, who chairs the Senate Intelligence Committee, dumped somewhere between $628,000 and $1.72 million of stocks, much of which came from the hospitality industry. The sales were made in 33 separate transactions on Feb. 13. Records of the transactions areJust days before, Burr penned a Fox News op-ed with Sen.
“Senator Burr filed a financial disclosure form for personal transactions made several weeks before the U.S. and financial markets showed signs of volatility due to the growing coronavirus outbreak,” Burr's spokesperson told ProPublica. “As the situation continues to evolve daily, he has been deeply concerned by the steep and sudden toll this pandemic is taking on our economy.”
The Intelligence Committee has received briefings on the coronavirus, but Burr's office wouldn’t say what kind of briefing materials, if any, about coronavirus he had at the time of the sales, according to ProPublica.
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