The Department of Justice has closed insider trading investigations into three of four United States senators who made major stock trades in the period of time between the coronavirus outbreak spreading through Wuhan, China, and the American economy tanking. 
According to The Wall Street Journal, federal prosecutors informed Senators Dianne Feinstein (D-CA), James Inhofe (R-OK) and Kelly Loeffler (R-GA) that the investigation into their financial trades would be closing. 
Loeffler, who is running for Senate against Congressman Doug Collins (R-GA), praised the development as a “clear exoneration,” calling the criticism of her stock activities a “politically-motivated attack promoted by the fake news media and my political opponents.”
<blockquote class="twitter-tweet">
Today’s clear exoneration affirms what I’ve said all along: I did nothing wrong.
This was a politically-motivated attack promoted by the fake news media and my political opponents. I’m continuing to focus my full attention on results for Georgia. <a href="https://t.co/F9vdoypIvd">https://t.co/F9vdoypIvd</a> <a href="https://twitter.com/hashtag/gapol?src=hash&amp;ref_src=twsrc%5Etfw">#gapol</a>
— Kelly Loeffler (@KLoeffler) <a href="https://twitter.com/KLoeffler/status/1265390782082473984?ref_src=twsrc%5Etfw">May 26, 2020</a></blockquote>
Inhofe made a statement to <a href="https://oklahoman.com/article/5663204/inhofe-says-justice-department-has-cleared-him-in-stock-sale-inquiry">The Oklahoman</a> on Tuesday afternoon indicating that he had been cleared, a conclusion to the investigation that he long anticipated. 
“As I’ve said all along, I wasn’t even at the briefing and do not make my own stock trades,” Inhofe told the news agency. “I did nothing wrong, and I’m pleased the Justice Department has exonerated me.”
The Journal reports that a spokesperson for Senator Feinstein did not have an “immediate comment.” When the first reports on the stock trading emerged, Feinstein <a href="https://twitter.com/SenFeinstein/status/1241010796496330752">maintained</a> that she keeps her assets in a blind trust and doesn’t have any input in her husband’s financial decisions, which are also reported to the Senate under U.S. law. 
However, officials &#8220;familiar with the matter&#8221; told The Journal that the investigation into Senator Richard Burr (R-NC), the former chairman of the Senate Intelligence Committee, will continue. 
As <a href="https://www.dailywire.com/news/breaking-senate-intelligence-chairman-steps-away-from-role-amidst-stock-trade-investigation">The Daily Wire</a> previously reported, Burr stepped down as chairman of the intelligence committee after his phone was taken by federal agents who served him with a warrant. He told reporters that he was stepping down as a temporary measure, so as to not distract from the “hard work of the committee.”
Information about Burr’s stock activities was unearthed in late March by <a href="https://www.propublica.org/article/senator-dumped-up-to-1-7-million-of-stock-after-reassuring-public-about-coronavirus-preparedness">ProPublica</a>, which reported that the senator and his wife “sold off a significant percentage of his stocks” over the course of 33 transactions in a single day. The trades amounted to between $628,000 and $1.72 million, reports the news agency.
Burr has <a href="https://apnews.com/27957dd84cbfaba7c8c26cd354711956">denied wrongdoing</a>, and maintains that his financial decisions were based on publicly available information. The Journal reports that Burr’s actions could be protected under the Constitution, citing a former federal prosecutor who specializes in public corruption cases. 
“Insider-trading cases are often based on the use of inside information obtained through corporate channels,” Justin Shur, the prosecutor, told The Journal. “The allegations here, however, are based on the use of information obtained through legislative channels.”
The Daily Wire, headed by bestselling author and popular podcast host Ben Shapiro, is a leading provider of conservative news, cutting through the mainstream media’s rhetoric to provide readers the most important, relevant, and engaging stories of the day. Get inside access to The Daily Wire by becoming a <a href="https://www.dailywire.com/subscribe">member</a>.

President Trump Joins GOP Senators At Policy Luncheon On Capitol Hill

Report: Feds Drop Pre-Lockdown Insider Trading Investigation For Three Of Four U.S. Senators

Department of Justice

Dianne Feinstein

James Inhofe

Kelly Loeffler

Richard Burr

Senator Richard Burr (R-NC), chairman of the Senate Intelligence Committee, has agreed to step aside as chairman amidst a federal investigation into stock trades he made in mid-February, prior to the coronavirus-caused stock market crash. 
In a statement on Wednesday morning, Senate Majority Leader Mitch McConnell (R-KY) <a href="https://www.mcconnell.senate.gov/public/index.cfm/pressreleases?ID=35C06032-B288-41E1-B474-B031E8E40E45">announced</a> that Burr would step aside as chairman while the investigation was pending. 
“Senator Burr contacted me this morning to inform me of his decision to step aside as Chairman of the Intelligence Committee during the pendency of the investigation. We agreed that this decision would be in the best interests of the committee and will be effective at the end of the day tomorrow,” said McConnell. 
Burr told reporters on Thursday that the he has been complying with the investigation since the beginning and that &#8220;everybody ought to let this investigation play out,&#8221; reports <a href="https://www.cnbc.com/2020/05/14/sen-richard-burr-steps-down-as-senate-intel-chair-during-coronavirus-stock-sale-probe.html">CNBC</a>. The senator also said he was stepping down as chairman because the ongoing investigation was a &#8220;distraction to the hard work of the committee.&#8221;
The <a href="https://www.latimes.com/politics/story/2020-05-13/fbi-serves-warrant-on-senator-stock-investigation">Los Angeles Times</a> reported on Wednesday evening that Burr turned over his phone to FBI agents at his residence near Washington after the agents served him with a search warrant. 
A law enforcement official with knowledge of the matter told The Times the Justice Department was looking into his communications with his stock broker, and a separate official told The Times that the FBI served Apple with a warrant to gain access to information on the senator’s iCloud account. 
Information about Burr’s stock activities was unearthed in late March by <a href="https://www.propublica.org/article/senator-dumped-up-to-1-7-million-of-stock-after-reassuring-public-about-coronavirus-preparedness">ProPublica</a>, which reported that the senator and his wife “sold off a significant percentage of his stocks” over the course of 33 transactions in a single day. The trades amounted to between $628,000 and $1.72 million, reports the news agency.
A financial filing obtained by <a href="http://pfds.opensecrets.org.s3.amazonaws.com/Burr_PTR_0202020-rotated%20%281%29.pdf">The New York Times</a> notes that Burr sold off between $15,001 to $50,000 in holdings of Extended Stay America and $50,001 to $100,000 in holdings of Wyndham Hotels and Resorts. 
In a statement to <a href="https://apnews.com/27957dd84cbfaba7c8c26cd354711956">The Associated Press</a>, Alice Fisher, an attorney for Burr, said “the law is clear that any American — including a Senator — may participate in the stock market based on public information.”
“When this issue arose, Senator Burr immediately asked the Senate Ethics Committee to conduct a complete review, and he will cooperate with that review as well as any other appropriate inquiry,” said Fisher. “Senator Burr welcomes a thorough review of the facts in this matter, which will establish that his actions were appropriate.”
AP reports that Burr has acknowledged his stock sales were related to the coronavirus, but maintains he only used public information to guide his financial decisions, specifically referencing CNBC daily health and science reporting.
The Daily Wire, headed by bestselling author and popular podcast host Ben Shapiro, is a leading provider of conservative news, cutting through the mainstream media’s rhetoric to provide readers the most important, relevant, and engaging stories of the day. Get inside access to The Daily Wire by becoming a <a href="https://www.dailywire.com/subscribe">member</a>.

U.S. Senate Meets As White House, Congressional Leaders Strike Deal On $2 Trillion Stimulus Package

BREAKING: Senate Intelligence Chairman Steps Away From Role Amidst Stock Trade Investigation

Coronavirus

Stock Market

Senator Richard Burr (R-NC), chairman of the Senate Intelligence Committee, has been served with an FBI search warrant in connection with dozens of stock trades he made on February 13, before the widespread stay-at-home orders took place.
According to <a href="https://www.latimes.com/politics/story/2020-05-13/fbi-serves-warrant-on-senator-stock-investigation">the Los Angeles Times</a>, the FBI visited the senator at his residence around the nation’s capital, where he turned over his cell phone. The Times reported no other details about the warrant at the time of publishing, and spoke with a law enforcement official on the condition of anonymity.
Los Angeles Times reporter Del Quentin Wilber has since stated that the FBI also issued a warrant to Apple in order to get information from the senator&#8217;s iCloud account.
<blockquote class="twitter-tweet">
FBI served a warrant on Apple to get info from Burr&#8217;s iCloud accounts in recent days, too, law enforcement official said. <a href="https://t.co/7mWNaWaOCR">https://t.co/7mWNaWaOCR</a>
— Del Quentin Wilber (@DelWilber) <a href="https://twitter.com/DelWilber/status/1260765064195383301?ref_src=twsrc%5Etfw">May 14, 2020</a></blockquote>
Information about Burr’s stock activities was unearthed in late March by <a href="https://www.propublica.org/article/senator-dumped-up-to-1-7-million-of-stock-after-reassuring-public-about-coronavirus-preparedness">ProPublica</a>, which reported that the senator and his wife “sold off a significant percentage of his stocks” over the course of 33 transactions in a single day.
From the single day of trading, the news agency discovered Burr had unloaded between $628,000 and $1.72 million in holdings.
A financial filing obtained by <a href="http://pfds.opensecrets.org.s3.amazonaws.com/Burr_PTR_0202020-rotated%20%281%29.pdf">The New York Times</a> notes that Burr sold off between $15,001 to $50,000 in holdings of Extended Stay America and $50,001 to $100,000 in holdings of Wyndham Hotels and Resorts.
In a statement to <a href="https://apnews.com/27957dd84cbfaba7c8c26cd354711956">the Associated Press</a>, Alice Fisher, an attorney for Burr, said “the law is clear that any American — including a Senator — may participate in the stock market based on public information.”
“When this issue arose, Senator Burr immediately asked the Senate Ethics Committee to conduct a complete review, and he will cooperate with that review as well as any other appropriate inquiry,” said Fisher. “Senator Burr welcomes a thorough review of the facts in this matter, which will establish that his actions were appropriate.”
AP reports that Burr has acknowledged his stock sales were related to the coronavirus, but maintains he only used public information to guide his financial decisions, specifically referencing CNBC daily health and science reporting.
As <a href="http://&lt;blockquote class=&quot;twitter-tweet&quot;&gt;&lt;p lang=&quot;en&quot; dir=&quot;ltr&quot;&gt;FBI served a warrant on Apple to get info from Burr's iCloud accounts in recent days, too, law enforcement official said. &lt;a href=&quot;https://t.co/7mWNaWaOCR&quot;&gt;https://t.co/7mWNaWaOCR&lt;/a&gt;&lt;/p&gt;&amp;mdash; Del Quentin Wilber (@DelWilber) &lt;a href=&quot;https://twitter.com/DelWilber/status/1260765064195383301?ref_src=twsrc%5Etfw&quot;&gt;May 14, 2020&lt;/a&gt;&lt;/blockquote&gt; &lt;script async src=&quot;https://platform.twitter.com/widgets.js&quot; charset=&quot;utf-8&quot;&gt;&lt;/script&gt;">The Daily Wire</a> previously reported, Burr was among three other senators who received heat after reports emerged they sold off holdings before the stock market began to fall. The other senators included Dianne Feinstein (D-CA), Kelly Loeffler (R-GA), and James Inhofe (R-OK).
A spokesperson for Feinstein told <a href="https://www.nytimes.com/2020/03/19/us/politics/richard-burr-stocks-sold-coronavirus.html">The New York Times</a> in March that all of the senator&#8217;s &#8220;assets are in a blind trust,&#8221; and that she has &#8220;no involvement in her husband&#8217;s financial decisions.&#8221; Inhofe told <a href="https://www.koco.com/article/sen-jim-inhofe-defends-himself-after-report-says-he-sold-stocks-right-before-market-crash/31851389#">ABC-5</a> in March that he&#8217;s been gradually divesting from stocks over the last 15 months.
Loeffler also responded to the allegations in March, <a href="https://twitter.com/SenatorLoeffler/status/1240856942433767425?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1240856942433767425&amp;ref_url=https%3A%2F%2Fwww.dailywire.com%2Fnews%2Fsenate-intelligence-chairman-served-fbi-search-warrant-over-stock-trades-report-says">saying</a> she was informed of the stock activity three weeks after it happened: &#8220;This is a ridiculous and baseless attack. I do not make investment decisions for my portfolio. Investment decisions are made by multiple third-party advisors without my or my husband’s knowledge or involvement.
The Daily Wire, headed by bestselling author and popular podcast host Ben Shapiro, is a leading provider of conservative news, cutting through the mainstream media’s rhetoric to provide readers the most important, relevant, and engaging stories of the day. Get inside access to The Daily Wire by becoming a <a href="https://www.dailywire.com/subscribe">member</a>.

Health Agency Chiefs Testify During Senate HELP Committee Hearing

Senate Intelligence Chairman Served FBI Search Warrant Over Stock Trades, Report Says

Four U.S. senators — one Democrat and three Republicans — have come under fire after multiple reports detailing their significant stock sell-offs prior to the coronavirus-caused stock market crash.
Senate financial disclosure records show that ranking Senate Judiciary Committee member Dianne Feinstein (D-CA), Senate Intelligence Chair Richard Burr (R-NC), Sen. Kelly Loeffler (R-GA) and Sen. James Inhoffe (R-OK) all sold off sizable amounts of stocks ahead of the market plummeting amid fears of the impact of the COVID-19 pandemic.
According to federal <a href="https://efdsearch.senate.gov/search/home/">records</a>, Sen. Feinstein and her husband sold &#8220;between $1.5 million to $6 million worth of stock in Allogene Therapeutics, a California-based biotech company, in transactions that took place on Jan. 31 and Feb. 18.,&#8221; <a href="https://www.nytimes.com/2020/03/19/us/politics/richard-burr-stocks-sold-coronavirus.html">The New York Times</a>, reported Thursday.
A spokesman for the senator told the Times that Feinstein had &#8220;no involvement&#8221; in the sell-off. &#8220;All of Senator Feinstein’s assets are in a blind trust,&#8221; spokesman Tom Mentzer told the paper. &#8220;She has no involvement in her husband’s financial decisions.&#8221;
Federal disclosure <a href="http://pfds.opensecrets.org.s3.amazonaws.com/Burr_PTR_0202020-rotated%20%281%29.pdf">records</a> show that Sen. Burr and his wife sold 33 different stocks on Feb. 13 that were worth in total $628,000 to $1.7 million, including &#8220;as much as $150,000 worth of stock in two hotel chains, Wyndham Hotels and Resorts and Extended Stay America,&#8221; the Times notes. The senator also sold $65,000 worth of stock in Park Hotels &amp; Resorts. Hotel and resort values have markedly declined amid the crisis.
Sen. Loeffler and her husband, Jeffrey Sprecher, chairman of the New York Stock Exchange, likewise sold hundreds of thousands-worth of stocks ahead of the crash. Loeffler &#8220;reported the first sale of stock jointly owned by her and her husband on Jan. 24, the very day that her committee, the Senate Health Committee, hosted a private, all-senators briefing from administration officials, including the CDC director and Anthony Fauci, the head of the National Institute of Allergy and Infectious Diseases, on the coronavirus,&#8221; <a href="https://www.thedailybeast.com/sen-kelly-loeffler-dumped-millions-in-stock-after-coronavirus-briefing">The Daily Beast</a> reported Thursday.
&#8220;That first transaction was a sale of stock in the company Resideo Technologies valued at between $50,001 and $100,000,&#8221; the outlet reports. Over the next few days, the two made a total of 29 stock transactions, including one purchase &#8220;worth between $100,000 and $250,000 in Citrix, a technology company that offers teleworking software and which has seen a small bump in its stock price since Loeffler bought in as a result of coronavirus-induced market turmoil.&#8221;
In response to reports on the transactions, Loeffler tweeted Friday, &#8220;This is a ridiculous and baseless attack. I do not make investment decisions for my portfolio. Investment decisions are made by multiple third-party advisors without my or my husband&#8217;s knowledge or involvement. As confirmed in the periodic transaction report to Senate Ethics, I was informed of these purchases and sales on February 16, 2020 — three weeks after they were made.&#8221;
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">
As confirmed in the periodic transaction report to Senate Ethics, I was informed of these purchases and sales on February 16, 2020 — three weeks after they were made.
&mdash; Senator Kelly Loeffler (@SenatorLoeffler) <a href="https://twitter.com/SenatorLoeffler/status/1240856942433767425?ref_src=twsrc%5Etfw">March 20, 2020</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
Disclosure <a href="https://efdsearch.senate.gov/search/home/">records</a> show that Sen. Inhofe also sold hundreds of thousands in stocks, all of the transactions taking place on Jan. 27. The sales totaled as much as $400,000 and included holdings in PayPal, Apple and real estate company Brookfield Asset Management, the Times reports.
In its report on the financial actions of the four senators, the Times focuses more attention on Burr&#8217;s actions than the other senators in part because of his role as chairman of the Intelligence Committee and because of his clashing public and private statements:
<blockquote>
The stocks were sold in mid-February, days after Mr. Burr, Republican of North Carolina and the chairman of the Intelligence Committee, wrote an <a class="css-1g7m0tk" title="" href="https://www.foxnews.com/opinion/coronavirus-prevention-steps-the-u-s-government-is-taking-to-protect-you-sen-alexander-and-sen-burr" target="_blank" rel="noopener noreferrer">opinion article</a> for Fox News suggesting that the United States was “better prepared than ever before” to confront the virus. At least three other senators sold major stock holdings around the same time, disclosure records show.
Two weeks after Mr. Burr sold his stocks, he spoke <a class="css-1g7m0tk" title="" href="http://www.northcarolinasociety.org/events/2020/2/27/thc-luncheon-with-sen-richard-burr-r-nc" target="_blank" rel="noopener noreferrer">at the Capitol Hill Club in Washington</a> to a nonpartisan group called the Tar Heel Club, warning that the virus could soon cause a major disruption in the United States.
</blockquote>
Related: <a href="https://www.dailywire.com/news/senate-eyes-higher-amount-for-stimulus-checks-to-americans-who-qualifies">Senate Eyes Higher Amount For Stimulus Checks To Americans. Who Qualifies?</a>

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Richard Burr

Report: Feds Drop Pre-Lockdown Insider Trading Investigation For Three Of Four U.S. Senators

BREAKING: Senate Intelligence Chairman Steps Away From Role Amidst Stock Trade Investigation

Senate Intelligence Chairman Served FBI Search Warrant Over Stock Trades, Report Says

Four Senators Under Fire After Selling Off Stocks Before Coronavirus Crash

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Richard Burr

Report: Feds Drop Pre-Lockdown Insider Trading Investigation For Three Of Four U.S. Senators

BREAKING: Senate Intelligence Chairman Steps Away From Role Amidst Stock Trade Investigation

Senate Intelligence Chairman Served FBI Search Warrant Over Stock Trades, Report Says

Four Senators Under Fire After Selling Off Stocks Before Coronavirus Crash

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