On February 13, 2020, Burr sold between $628,000 and $1.72 million of stocks in 33 transactions during a period when, as head of the Senate Intelligence Committee, he was being briefed daily regarding potential health threats from COVID-19. This apparent attempt to avoid losing money in an anticipated economic downturn has resulted in accusations of insider trading, a possible violation of the STOCK Act, which Burr was one of only three senators to oppose. (read more)
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Just The News, 3/20/2020
our senators sold stocks worth millions of dollars before the coronavirus outbreak crashed the financial markets, according to news reports.
Senate Intelligence Committee Chairman Richard Burr sold roughly $1.7 million in stocks before the markets started dropping in February, as the economic fallout of the virus spreading around the world became clearer.
The three other senators who reportedly sold the stocks are California Sen. Diane Feinstein, the top Democrat on the Senate Judiciary Committee, and Republican Sens. Kelly Loeffler (Georgia) and James Inhofe (Oklahoma).
None of the senators have been accused of illegal activity, but their actions have raised questions about whether the privileged information as members of Congress influenced the stock sales.
Burr (R-N.C.) and his wife sold about $600,000 to $1.7 million in roughly 30 separate transactions from late-January to mid-February, based on the required Senate disclosure records that he filed and first reported by ProPublica and The Center for Responsive Politics.
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