Senators and congresspeople have access to information that the American public doesn’t. It is expected that they don’t use these inside information to make money in the stock market.
But a number of Republicans made questionable stock trades during the beginning of the COVID-19 pandemic. Richard Burr was among them. As a result, the North Carolina Republican stepped down as Chairman of the Senate Intelligence Committee in May of 2020.
The Department of Justice also opened an investigation into Burr around the same time. And today, the last day of Donald Trump‘s term, Burr announced that the investigation has closed with no charges filed.
“Tonight, the Department of Justice informed me that it has concluded its review of my personal financial transactions conducted early last year. The case is now closed,” said Burr. “I’m glad to hear it. My focus has been and will continue to be working for the people of North Carolina during this difficult time for our nation.”
In addition, none of the other lawmakers who made sketchy trades will be charged, CNN‘s Manu Raju tweeted, “Justice closed all four Senate insider trading probes launched in the wake of the pandemic: Perdue, Feinstein, Loeffler and Burr. None were charged.”
As @evanperez notes, Justice closed all four Senate insider trading probes launched in the wake of the pandemic: Perdue, Feinstein, Loeffler and Burr. None were charged
— Manu Raju (@mkraju) January 20, 2021
This does not mean, however, that all the senators are out of the woods. The incoming Justice Department will take a look at the investigation and determine whether or not it was ethical.
Todd Neikirk is a New Jersey based politics and technology writer. His work has been featured in psfk.com, foxsports.com and hillreporter.com. He enjoys sports, politics, comic books and spending time at the shore with his family.