Sen. Kelly Loeffler has shared documentation of her stock transactions with the Department of Justice, the Securities and Exchange Commission, and the Senate Ethics Committee.
Loeffler, a Georgia Republican, has been criticized for dumping stock in late February and early March after attending briefings about COVID-19. The transactions took place prior to the historic nosedive in U.S. markets. In a statement, a representative for Loeffler said that she has made all documentation of her sales available to the relevant authorities.
“Senator Loeffler has forwarded documents and information to DOJ, the SEC, and the Senate Ethics Committee establishing that she and her husband acted entirely appropriately and observed both the letter and the spirit of the law,” her representative said. “The documents and information demonstrated her and her husband’s lack of involvement in their managed accounts, as well the details of those accounts. Senator Loeffler has welcomed and responded to any questions from day one.”
On Wednesday night, Sen. Richard Burr, a North Carolina Republican, was served a warrant for his cellphone by the FBI in connection to an insider trading investigation for stock sales he made following coronavirus briefings. Burr denies all wrongdoing and claimed that he made each stock sale based on information available to the public. A representative for Loeffler told the Washington Examiner that the senator had not been served any warrants.
“Allegations of improper trading by Sen. Loeffler are completely false based on a political attack misrepresenting the facts to prey on the emotions of the American people as they endure the impact of a global pandemic,” the representative said. “No search warrant has been served on Sen. Loeffler. She has followed both the letter and spirit of the law and will continue to do so.”
Loeffler has maintained that all stock transactions have been made by her financial advisers and that she was not notified of the sales until after they took place. She also recently recused herself from the Subcommittee on Commodities, Risk Management, and Trade to avoid further accusations of a conflict of interest.
“Loeffler previously said she would recuse herself on a case-by-case basis, but it’s now abundantly clear that the media and Sen. Loeffler’s adversaries will stop at nothing to attack her and take away from the important work taking place during this public healthcare crisis,” the representative said after announcing the recusal. “The senator continues to serve on the full Agriculture Committee, and her focus remains on delivering results and relief for Georgia’s farmers and all hard-working families across the state.”
Burr announced on Thursday that he would be stepping down as chairman of the Senate Intelligence Committee because of the investigation. California Sen. Dianne Feinstein, a Democrat, also announced on Thursday that she had spoken to the FBI about her stock transactions. Feinstein has similarly denied any wrongdoing.
