Senator Dumped Up to $1.6 Million of Stock After Reassuring Public About Coronavirus Preparedness — ProPublica t.co/QMZBMSd5uC
— Andrew Beatty (@AndrewBeatty) March 19, 2020
Senate Intelligence Committee Chairman Richard Burr, R-N.C., may have cashed in before the stock market was in free fall due to the coronavirus outbreak, according to a new report.
ProPublica alleged on Thursday that Burr “sold off a significant percentage of his stocks, unloading between $582,029 and $1.56 million of his holdings on Feb. 13 in 29 separate transactions” in filings listed in the U.S. Senate Financial Disclosures website as he was regularly being briefed on the rising threat of the virus.
A spokesperson for Burr told Fox News, “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. 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. He supported Congress’ immediate efforts to provide $7.8 billion for response efforts and this week’s bipartisan bill to provide relief for American business and small families.”