Report Says Senators Sold Off Stocks Ahead of Coronavirus Economic Crash
They allegedly had knowledge of COVID-19 before their sales
Reports on Thursday revealed 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.
ProPublica 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 are available through the Securities and Exchange Commission.
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