Tag Archives: insider trading

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 …

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 …

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 …

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 …

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 …

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 …

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 …

ProPublica reports: Sen. Richard Burr was not the only member of his family to sell off a significant portion of his stock holdings in February, ahead of the market crash spurred by coronavirus fears. On the same day Burr sold, his brother-in-law also dumped tens of thousands of dollars worth of shares. The market fell by more than 30% in …

The Daily Beast reports: The Georgia Republican is taking every chance she gets to plug her presidential appointment to a White House task force on “reopening America.” She’s using the appointment to attempt to court campaign supporters, taking out paid ads promoting it, and has even set up a stand-alone campaign website offering coronavirus information to constituents—a site that also …

The Daily Beast reports: Embattled Sen. Kelly Loeffler (R-GA) waved off the firestorm of controversy over stock trades she made following Senate coronavirus briefings, telling Fox News on Friday that the criticism she’s received is nothing more than a “socialist attack.” Noting that Loeffler had appeared on their program last month to deny any wrongdoing, America’s Newsroom co-anchor Sandra Smith …

The Daily Beast reports: Sen. Kelly Loeffler (R-GA) pledged on Wednesday to liquidate her personal stock holdings amid a firestorm over trades that coincided with non-public Senate briefings on the novel coronavirus. “ Although Senate ethics rules don’t require it, my husband and I are liquidating our holdings in managed accounts and moving into exchange-traded funds and mutual funds,” Loeffler …

The Daily Beast reports: Two weeks after calling on Senate Intelligence Chairman Richard Burr (R-NC) to resign if he couldn’t explain his suspicious stock dumps, Fox News host Tucker Carlson said Sen. Kelly Loeffler (R-GA) must leave office if it is revealed she knew in advance about stock trades her financial advisers made. Last month, after news broke that Burr …

The Atlantic Journal-Constitution reports: U.S. Sen. Kelly Loeffler’s most recent financial disclosures show that millions of dollars in stocks were sold on her behalf at the same time Congress was dealing with the impact of the coronavirus. The largest transactions — and the most politically problematic — involve $18.7 million in sales of Intercontinental Exchange stock in three separate deals …

From the editorial board of the Charlotte Observer: Seven days have passed since news reports revealed how U.S. Sen Richard Burr profited off the coronavirus while failing to warn his constituents at the early, critical stages of the crisis. It has not been a good week. Burr has been abandoned by fellow Republicans, some of whom have called for his …

Just in from Public Policy Polling: PPP’s newest North Carolina poll finds that a majority of North Carolinians think Richard Burr should resign, and that his approval numbers have plummeted since revelations last week about his stock sales in the wake of the coronavirus. 50% of voters in the state think Burr should resign to 24% who think he should …

The Hill reports: Conservative Fox News host Tucker Carlson called on Sen. Richard Burr (R-N.C.) to resign after reports that he sold off millions in personal stocks the week before the stock market began its steep dive amid fears of the COVID-19 outbreak. “He didn’t give a prime time address, he didn’t go on television to sound the alarm,” Carlson …

The Buffalo News reports: A judge Friday sentenced former Rep. Chris Collins to 26 months in federal prison for igniting an insider trading scheme that also prompted his son, Cameron, and his son’s future father-in-law to break the law. The sentence was handed down by U.S. District Court Judge Vernon S. Broderick, according to a journalist tweeting from the courtroom, …

The Washington Post reports: House Speaker Nancy Pelosi (D-Calif.) received a letter of resignation from Republican Rep. Chris Collins on Monday, a senior Democratic aide said. The resignation will be effective when the letter is officially filed at a scheduled House session Tuesday. Collins, President Trump’s first congressional supporter, is expected to plead guilty to insider-trading charges on Tuesday, following …

The Buffalo News reports: Rep. Chris Collins plans to change his not guilty plea in the criminal insider trading case against him, federal court records showed Monday morning. U.S. District Court Judge Vernon S. Broderick scheduled a court hearing in the case for Tuesday. Moments after that docket entry was filed, a second appeared, indicating that Collins’ co-defendants – his …

The Democrat & Chronicle reports: Indicted Congressman Christopher Collins has won reelection to the U.S. House of Representatives. He defeated challenger Nathan McMurray, who conceded the race around 11:06 p.m. McMurray, the Grand Island town supervisor, mounted his long-shot campaign earlier this year with scant expectation of winning. But in the aftermath of Collins’ indictment in August on federal insider …