Watchdog Demands Investigation Into Senators’ Coronavirus-Related Stock Dumps; Resignations if Reports Confirmed
Report: Senator Burr dumped his personal stock portfolio, shared potential inside information with top donors while telling the public everything was fine
Report: Senator Loeffler dumped millions in shares after Senator-only coronavirus briefing, loaded up on stocks in Citrix, a teleworking technology company set to benefit from the crisis
Accountable.US: “Senator Burr and any other member of Congress who profited off of advance knowledge of the crisis while they told the public not to worry should immediately resign in disgrace and face the full consequences of the law”
WASHINGTON, D.C. – Today, Accountable.US demanded an immediate investigation by the U.S. Securities and Exchange Commission (SEC) and the Senate Ethics Committee into the multiple United States Senators who dumped their personal stock portfolios in advance of the stock market collapse and while receiving private briefings on the coronavirus crisis, including Senator Richard Burr (R-NC), who received private daily briefings as Chairman of the Senate Intelligence Committee.
Additionally, Accountable.US is calling for every member of the United States Congress to immediately release all information about their personal stock trading, including trading that has occurred in the past 30 days in advance of their required financial disclosure.
If any member of Congress is found to have traded stocks for personal financial gain based on knowledge of the impending coronavirus crisis that they were not sharing with the public, or shared inside information with their donors, Accountable.US demands that they immediately resign and face all appropriate penalties.
“This is a shocking breach of public trust that demands immediate explanation and action,” said Kyle Herrig, President of Accountable.US.
“Senator Burr and any other member of Congress who profited off of advance knowledge of the crisis while they told the public not to worry should immediately resign in disgrace and face the full consequences of the law.
“The public deserves an immediate investigation by the Securities and Exchange Commission and the Senate Ethics Committee, and every member of Congress should immediately release the full details of their stock transactions in advance of their required financial disclosure.
“Millions of Americans have watched as their 401Ks and life savings have been hammered by a crisis that leaders like Senator Burr should have been better prepared for, and it would be shameful for him, or any member of Congress, to profit off of a national crisis and their failings as policymakers.”