Rep. Doug Collins took the opportunity to criticize Sen. Kelly Loeffler, whom he is trying to unseat this year, after news broke that she offloaded millions of dollars in stocks before the coronavirus crisis caused markets to crash.
“People are losing their jobs, their businesses, their retirements, and even their lives and Kelly Loeffler is profiting off their pain?” the George congressman said Friday on Twitter. “I’m sickened just thinking about it.”
People are losing their jobs, their businesses, their retirements, and even their lives and Kelly Loeffler is profiting off their pain? I’m sickened just thinking about it.
— Doug Collins (@CollinsforGA) March 20, 2020
Loeffler, a Republican, started her stock sale on Jan. 24, the same day she was briefed by members of the Trump administration, including virologist expert Anthony Fauci, according to the Daily Beast on Thursday.
The first stocks she sold were worth between $50,000 and $100,000 from the company Resideo, which has now lost more than 50% of its value. Before that transaction, Loeffler had not reported a single stock transaction since her Jan. 6 appointment to the Senate.
Since then, she’s reported 29 stock transactions and has dumped between $1,275,000 and $3,100,000 in stocks. She has also invested in that time period in a company that offers teleworking services, which has seen its stock go up since the market crash.
Loeffler defended herself late Thursday, claiming she had no say in the decisions made for her stock portfolio.
“I want to set the record straight: This is a ridiculous & baseless attack. I don’t make investment decisions for my portfolio,” Loeffler wrote in a pair of tweets. “Investment decisions are made by multiple third-party advisors without my or my husband’s knowledge or involvement. As confirmed in the periodic transaction report to Senate Ethics, I was informed of these purchases and sales on 02/16/2020 — three weeks after they were made.”
As confirmed in the periodic transaction report to Senate Ethics, I was informed of these purchases and sales on 02/16/2020 – three weeks after they were made.
— Kelly Loeffler (@KLoeffler) March 20, 2020
Collins, a vocal Trump defender, is part of a crowded field challenging Loeffler for her Senate seat. Loeffler was selected by Georgia Gov. Brian Kemp in December to take over the seat after Sen. Johnny Isakson announced his intention to resign over health issues. She has held the seat since early January.
