DOJ ends probe into Sen. Burr's stock trades

Video Credit: Reuters - Politics
Published on January 20, 2021 - Duration: 01:03s

DOJ ends probe into Sen. Burr's stock trades

U.S. Senator Richard Burr said on Tuesday the Justice Department had closed its investigation of stock trades he made last year before a market downturn caused by the coronavirus pandemic.

Flora Bradley-Watson reports.

DOJ ends probe into Sen. Burr's stock trades

The U.S. Department of Justice has ended its investigation into alleged insider trading by Republican Senator Richard Burr.

Burr dumped up to 1.7 million dollars worth of stock in February 2020 across 33 transactions.

He was accused of selling the shares after private briefings on the risks posed by the coronavirus crisis.

Weeks later the markets crashed.

At the time, U.S. President Donald Trump and some of his political allies were downplaying the virus threat to the public.

Burr was forced to turn over his phone to FBI agents, and his home was searched as part of the investigation.

In a statement on Tuesday, Burr said the DOJ had informed him they had concluded their probe and the case was now closed.

Burr stepped aside as chairman of the Senate Intelligence Committee in May during the investigation.

But he always maintained that he relied on news reports when making decisions about stocks.

Other senators have also come under scrutiny for their stock markets trades, including Republican Kelly Loeffler and Democrat Dianne Feinstein.

Both deny any wrongdoing.

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