FBI serves search warrant on Sen. Richard Burr amid stock trading controversy The FBI served a search warrant on Sen. Richard Burr (R-N.C.) Wednesday as an investigation pushes forward on whether or not the senator violated a law that prevents members of Congress from trading on insider information they learn from their work, The Los Angeles Times reported. Federal agents seized Burr’s cellphone after they served a search warrant on the Republican at his residence in the Washington area, a law enforcement official told the Times. Caitlin Carroll, a spokeswoman for Burr, declined to comment on the reported warrant. Burr, the chairman of the Senate Intelligence Committee, sold a significant percentage of his stock portfolio in February shortly before the stock market declined and after his committee was receiving daily coronavirus briefings. The Justice Department started to probe stock transactions made by lawmakers, including Barr, ahead of the steep market decline, CNN reported last month. Burr sold off between $628,000 to $1.72 million of his holdings on Feb. 13 in 33 separate transactions, according to ProPublica which first reported in March on the senator’s selloff. Burr has denied using any information he learned in his capacity as a senator to guide his decisions regarding selling his stocks. Louisville mayor demands investigation after police kill black woman... GOP senators hit the gas on Obama-era probes Earlier this month, ProPublica reported that Burr’s brother-in-law Gerald Fauth also sold a large portion of his stock holdings in February before the stock market plunged. Alice Fisher, who is advising Burr, told The Hill at the time that the North Carolina Republican “participated in the stock market based on public information and he did not coordinate his decision to trade on February 13 with Mr. Fauth."
Yep looks like my Senator has stepped in it with his coronavirus stock trading and tips to family & friends.
Burr has pretty good support across North Carolina in general and he is not up for re-election. He has been a Senator for a while. Tillis is up for reelection this year in a toss up race. Tillis is a recent Senator. He has lower support across North Carolina than Burr. I wonder if Burr's situation will rub off on the Tillis race. I doubt it because nearly everyone views the two Senators in our state separately despite both being Republicans. Our two Senators do not appear to have a close personal relationship; nor does Burr campaign for Tillis.
He's on a long list of political types who have made some fortuitous trades during this crisis. Evidently he's not connected enough to have it explained away.
In Burr's case I don't think that it is his own fortuitous trades that are under scrutiny. Sadly there seems to be no law against this for Senators. It is his informing family and friends of "inside government information" to make similar trades. There appears to be some laws against this (based on news commentary).
Can you provide some information about this law that Obama put into place? Because all the news commentators are saying there still is no law against a Senator trading stocks based on information he/she learns in their government position. They can be referred to the Ethics committee which is unlikely to take any action since so many Senators do this. In fact the Ethics committee is such a joke that Burr is demanding he be referred to it since he knows it will "clear" him.
I will be the last one to condone corruption from members of Congress. They have been engaged in insider trading for a while. 60 minutes did a special once, interviewing Nancy Pelosi and other Republicans. I have no doubt, both parties have engaged in insider trading, enriching themselves while, in office. Nancy Pelosi and the Republicans have said they have done nothing wrong buying stocks in companies with business before them? Why is Nancy Pelosi and the others not being investigated? I am sure the FBI can still find that 60 minutes video?