Department of Justice Drops Investigations into Insider Trading by Three Senators

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The Justice Department has closed investigations into insider trading in three senators who sold shares following brief briefings on the coronavirus, aid workers told NBC News.

A spokesperson for Senator Kelly Loeffler, R-Ga., Confirmed that she had been informed that the Department of Justice had dropped an investigation into her trades and called the allegations “politically motivated”.

“The clear exemption pronounced today by the Department of Justice confirms what Senator Loeffler has always said – it has done nothing wrong. It is a politically motivated attack shamelessly promoted by false media and its political opponents. Senator Loeffler will continue to focus full attention on getting results for Georgians, “said spokesman Stephen Lawson.

An assistant Democrat said that Senator Dianne Feinstein, D-Calif., Was informed that the Department of Justice was abandoning an investigation into the stock market transactions her husband had made following his briefings.

A similar investigation into Senator James Inhofe, R-Okla., Is also being dropped, according to a spokesperson – but another, involving Senator Richard Burr, R-N.C., Is continuing. The development was first reported by the Wall Street Journal.

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Burr’s office did not respond to a request for comment. A justice ministry spokesman declined to comment on the Journal’s report.

Inhofe told the Oklahoman newspaper in Oklahoma City: “As I always said, I was not even at the briefing and I am not doing my own stock trading. I haven’t done anything wrong, and I’m glad the Justice Department has exonerated me. “

Burr temporarily retired from the post of chairman of the intelligence committee this month after the FBI seized his cell phone as part of his trade investigation.

Unlike other senators, Burr admitted that he led his trades himself. He said he did not use inside information and said in March that he “only relied on public information to guide my decision regarding the sale of stocks on February 13”.

Loeffler said after the transactions were revealed that she was unaware of the transactions at the time they were made.

“I had no involvement in these decisions. I don’t have a conversation with them about it, so it’s a very third-party relationship that a lot of people know, “she told CNBC in March.

A Feinstein spokesperson told NBC News when her husband’s dealings were revealed that she “hadn’t sold any shares.”

“All of Senator Feinstein’s assets are in a blind trust, as they have been since his arrival in the Senate,” said the spokesman. “She has no involvement in her husband’s financial decisions. “

Inhofe said at the time that “I have no involvement in my investment decisions.”

“In December 2018, shortly after I became chairman of the Senate Armed Services Committee, I asked my financial advisor to withdraw from all stocks and mutual funds to avoid any appearance of controversy. My advisor has been doing this faithfully since then and I am not aware of any transactions or consultations on them, “said Inhofe in a statement.

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