Tag Archives: insider trading

Madison Cawthorn Discloses Cryptocurrency Purchases At Center Of US House Ethics Probe On Insider Trading

CNBC reports: Rep. Madison Cawthorn on Friday belatedly disclosed suspected cryptocurrency transactions that earlier this month led the House Ethics Committee to open an investigation into the North Carolina Republican’s possible promotion of an asset he secretly owned. Cawthorn, 26, revealed Friday that he bought between $100,000 and $250,000 worth of “Let’s Go Brandon” cryptocurrency on Dec. 21. The transaction …

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Cawthorn Investigated For Alleged Insider Trading

The Hill reports: The House Ethics Committee has launched a probe into embattled Rep. Madison Cawthorn (R-N.C.) to determine whether he improperly promoted a cryptocurrency without disclosing he had a financial interest in it and whether he had an improper relationship with a staff member employed in his congressional office. A Washington Examiner report first suggested that Cawthorn may have …

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GOP Senator: Investigate Cawthorn For Insider Trading

Charlotte’s Fox News affiliate reports:  A North Carolina senator is weighing in on the latest in an avalanche of issues for a fellow congressman from the Tar Heel state. Thom Tillis tweeted Wednesday morning, addressing accusations that Rep. Madison Cawthorn had implicated himself in insider trading. The Washington Examiner wrote that Madison Cawthorn is under fire after posing with hedge …

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Cawthorn Accused Of Crypto Insider Trading Scheme

The right wing Washington Examiner reports: Rep. Madison Cawthorn may have violated federal insider trading laws as he hyped up an alleged pump-and-dump cryptocurrency scheme, multiple watchdog groups told the Washington Examiner. On Dec. 29, the beleaguered North Carolina congressman posed at a party with James Koutoulas, a hedge fund manager and the ringleader of the Let’s Go Brandon cryptocurrency, …

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Court Overturns Block On Sen. Burr’s Search Warrant

The Los Angeles Times reports: A federal appeals court on Friday overturned a judge’s ruling that blocked the public’s access to a search warrant for Sen. Richard M. Burr’s cellphone that federal investigators seized in an investigation of his stock trades. The three-judge appeals court panel found that U.S. District Judge Beryl Howell had misapplied the law in her May …

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North Carolina Paper Calls On GOP Senator To Resign

From the editorial board of the Charlotte Observer: New details arose Thursday regarding a Securities and Exchange Commission investigation into possible insider trading by Burr. According to an SEC filing first reported by ProPublica, Burr possessed “material nonpublic information” regarding the incoming economic impact of the virus when he dumped roughly $1.6 million in stocks in February 2020. After doing …

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New Insider Trading Allegations Against GOP Senator

ProPublica reports: After Sen. Richard Burr of North Carolina dumped more than $1.6 million in stocks in February 2020 a week before the coronavirus market crash, he called his brother-in-law, according to a new Securities and Exchange Commission filing. They talked for 50 seconds. Burr, according to the SEC, had material nonpublic information regarding the incoming economic impact of coronavirus. …

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Rand Paul’s Wife Bought Stock In COVID Med Company After He Got Private Briefing During Start Of Pandemic

The Washington Post reports: Sen. Rand Paul revealed Wednesday that his wife bought stock in Gilead Sciences — which makes an antiviral drug used to treat covid-19 — on Feb. 26, 2020, before the threat from the coronavirus was fully understood by the public and before it was classified as a pandemic by the World Health Organization. The disclosure, in …

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Another Republican Senator In Stock Trading Scandal

Forbes reports: Sen. Tommy Tuberville (R-Ala.) bought and sold more than $1 million worth of securities during his first five months in the Senate, buying and selling stock in some companies with business before his committees, according to a filing released Friday. A member of the Armed Services Committee, Tuberville made four separate purchases of Alcoa, a defense contractor, totaling …

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New York AG Petitions Kodak CEO To Testify On His Stock Buys After Secret $655M Loan Deal With Trump

Via press release from New York AG Letitia James: New York Attorney General Letitia James, today, announced a new action taken in her investigation of insider trading by the chief executive officer (CEO) of the Eastman Kodak Company (Kodak). Attorney General James filed a petition with the New York County State Supreme Court to have Kodak CEO Jim Continenza publicly …

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Perdue Eyed For Timing Of Pfizer Stock Purchase

Salon reports: Sen. David Perdue, one of two multimillionaire Georgia Republicans facing tight runoff elections in January, drew scrutiny this spring for stock transactions made in the weeks ahead of the coronavirus outbreak in the U.S., while he was receiving privileged briefings on the impending pandemic. In a series of transactions in late February, Perdue also invested up to $245,000 …

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Perdue Traded Bank Stocks While Passing Pro-Bank Bills

Salon reports: David Perdue, one of two multimillionaire Georgia Republican senators facing insider-trading scrutiny ahead of runoff elections in January, traded hundreds of thousands of dollars in bank stock while passing pro-bank legislation on the Senate Banking Committee, financial disclosures show. Between 2017 and 2020, while on the committee, Perdue co-sponsored 14 bills that benefited the financial industry, including through …

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Loeffler In Quarantine After Mixed COVID Test Results

CBS News reports: U.S. Senator Kelly Loeffler is quarantining after receiving mixed results from recent coronavirus tests, a day after she campaigned with Vice President Mike Pence and U.S. Senator David Perdue in the state’s hotly contested twin Senate races. The Georgia Republican took two rapid COVID tests on Friday morning that came back negative, a spokesperson for her campaign …

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Four Trump Ambassadors Dumped Stocks In January

CNBC reports: Several U.S. ambassadors actively shed their stock holdings as President Donald Trump tried to downplay the coronavirus outbreak in its early stages. Ambassadors to Uruguay, France, Morocco and Italy sold shares in transactions that could have made them millions of dollars, according to financial disclosure filings reviewed by CNBC. Much of their sales were in January and continued …

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Ex-GOP Rep Gets Third Prison Delay Due To Pandemic

Roll Call reports: Former Rep. Chris Collins, who was sentenced to more than two years in federal prison in January for insider trading, will have his surrender date pushed back yet again due to the coronavirus pandemic. The New York Republican is set to report to FPC Pensacola on Aug. 18 to serve his 26-month sentence. The facility is a …

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GOP Rep Dumped Cruise Stocks, Snatched Up Pharma

USA Today reports: With a global pandemic threatening to hit the United States earlier this year, U.S. Rep. Phil Roe made hundreds of financial transactions, buying stocks in companies now working on vaccines and selling other shares before a historic market plunge in March. While it’s unclear if the stock trades were based on information unavailable to the public, Roe’s …

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DOJ Drops Insider Trading Probe Into Sen. Kelly Loeffler

The Daily Beast reports: The Justice Department will not file insider trading charges against Sen. Kelly Loeffler (R-GA), the Wall Street Journal reported on Tuesday. DOJ informed lawyers for Loeffler and two other senators scrutinized for their coronavirus-era stock trades that they are closing their investigations into the matters. A DOJ investigation into Sen. Richard Burr (R-NC) remains ongoing, the …

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Loeffler’s Husband Donates $1M To Pro-Trump PAC

Seems like somebody doesn’t want to be prosecuted: Jeff Sprecher, the husband of Sen. Kelly Loeffler (R-Ga.), sent a $1 million check to the leading pro-Trump super PAC even as she been fending off criticism around her family’s stock trading. Sprecher, the chairman of the New York Stock Exchange, donated to America First Action on April 29, according to a …

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Burr Steps Down As Committee Chair Amid Stock Probe

CNBC reports: Sen. Richard Burr will step down as chairman of the Senate Intelligence Committee amid an FBI probe of Burr’s stock sales in the early weeks of the coronavirus pandemic. “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,” Senate Majority …

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FBI Seizes Sen. Richard Burr’s Phone In Stock Probe

NBC News reports: A senior law enforcement official confirms to NBC News that the FBI obtained the cellphone of Sen. Richard Burr pursuant to a search warrant, as part of an investigation of possible insider trading. Burr turned over his phone to agents after they served a search warrant at his Washington, D.C.-area residence. Burr, R-N.C., who chairs the Senate …

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