The Senate Ethics Committee dropped its inquiry into controversial stock trades GOP Georgia Sen. Kelly Loeffler made at the start of the coronavirus pandemic.
The committee sent a letter to the Georgia Republican regarding the investigation’s closure just three weeks after the Justice Department announced it would also drop its investigation into the dealings, according to Politico.
Deborah Sue Mayer, the committee’s chief counsel and staff director, wrote in the letter that the panel looked into stock transactions made by Loeffler and her husband Jeffrey Sprecher, who is chairman of the New York Stock Exchange.
“Based on all the information before it, the Committee did not find evidence that your actions violated federal law, Senate Rules or standards of conduct,” Mayer said. “Accordingly, consistent with its precedent, the Committee has dismissed the matter.”
Along with Sens. Dianne Feinstein of California, Richard Burr of North Carolina, and James Inhofe of Oklahoma, Loeffler was one of several senators accused of potential insider trading ahead of the stock market drop at the height of the coronavirus pandemic. Loeffler denied any wrongdoing, claiming her financial adviser had made trades that she only learned about afterward.
Loeffler has also previously said the criticism of her financial dealings were part of a larger attack on capitalism by the mainstream media.
Loeffler was appointed by Georgia Gov. Brian Kemp to replace retiring Sen. Johnny Isakson in 2019. She faces a challenge in November’s special election from Rep. Doug Collins, who has consistently attacked her on her stock trades.
