Sunday, July 12, 2020

FBI Dramatically Escalates Insider Trading Probe Into Senator Burr

FBI agents have seized U.S. Senator Richard Burr’s cell phone after executing a search warrant on his Washington, D.C. area home.

The North Carolina Republican chairs the Senate Intelligence Committee. The news marks a dramatic escalation of the insider trading probe into Burr, who’s faced scrutiny over dozens of stock trades made at the same time both committees he sits on received closed-door briefings on the still-emerging coronavirus pandemic. Burr’s trades occurred one day after a health committee meeting and one week before the market cratered. Many shares he sold were in companies walloped by the crisis. (RELATED: Five Senators Accused of Insider Trading)

Obtaining a search warrant is contingent upon prosecutors successfully persuading a judge there is probable cause to believe a crime has been committed. The leadership at the Justice Department would have to consent to the feds taking such action against a sitting United States senator.

The Los Angeles Times further reports:

A second law enforcement official said FBI agents served a warrant in recent days on Apple to obtain information from Burr’s iCloud account and said agents used data obtained from the California-based company as part of the evidence used to obtain the warrant for the senator’s phone.

A spokesperson for the FBI did not return phone messages seeking comment. A spokeswoman for Burr declined to comment. Burr has said he does not plan to run for reelection in 2022.

Burr’s sell-off — which was publicly disclosed in ranges — amounted to between $628,000 and $1.72 million. The stock trades were first reported by ProPublica.

Burr isn’t the only senator who’s facing allegations of insider trading. Sens. Dianne Feinstein (D-CA) and Kelly Loeffler (R-GA) have become increasingly scrutinized.

UPDATE: Senator Burr has contacted Majority Leader Mitch McConnell (R-KY) and will temporarily step down as chairman of the Intelligence Committee. The Los Angeles Times notes the details of the arrangement.

Sen. Richard Burr (R-N.C.) said the investigation is a “distraction to the hard work of the committee and the members, and I think that the security of the country is too important to have a distraction.” Senate Majority Leader Mitch McConnell said he and Burr agreed that his decision to step aside “would be in the best interests of the committee” and would take effect Friday evening.

READ NEXT: PAC in Intra-Conservative Feud Unloads on Loeffler Over Stock Trades >>

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Michael Brigham
Michael Brigham
Michael Brigham has written for American Action News since the summer of 2019. His areas of expertise include foreign affairs, government, and politics, but regardless of the subject matter, he has a nose and an insatiable appetite for news. In his free time, he enjoys reading nonfiction, watching a mix of comedies and true crime documentaries, and spending time away from the swamp hiking in the foothills of the Appalachian Mountains.

23 COMMENTS

  1. Are we really supposed to believe that Director of the FBI Wray is doing something that’s good for America – that Obama shill?

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  3. Look over here. There’s nothing to see over there pertaining to the corruption and treasonous attempt to unseat a newly elected president orchestrated by barry himself. Sure this GOP rep. is dirty as hell and he deserves to be striped of all money made after he came to washington dc. But if you do this to him, for years the pelosi family has acquired their entire wealth through insider stock trading as DC and the law looked the other way.

    • You must be a registered North Carolina voter who is in the know about Sen. Richard Burr (R-NC). Maybe now N.C. can uproot an entrenched and embedded sticker burr and elect a conservative Christian who will maintain his integrity, by the grace of God. Pray for your fellow Carolinians, that by some miracle we get a real conservative in place of Sen. Lindsey Grsham-McCain (RINO-SC).

  4. Well deserved! What goes around comes around! Burr has been leading the senate’s effort in the Corrupt “Trump Russia Collusion” hoax from the start! 😂🤣😂🤣😂🤣😂🤣😂🤣👏👏👏👏👏👏👏👏👏👍👍👍👍👍👍👍👍👍👍✊✊✊✊✊✊✊

  5. Corruption is corruption. Dems or Reps. Those people are to be called on the carpet and dealt with by the law. There will always be wild allegations to excuse character assassination. Look at all of congress and you will find alot of them have made stock moves to increase their wealth without real regard to the rules. It is a character flaw…

  6. Of course. FBI is infested with liberals and has no regards for legal issues. It’s all political for them, law is only applied to follow their socialist objectives, the war against Republicans and individual freedom. Using contemporary lingo, it’s racism – political racism.
    FBI is on the road to Stasi reborn.

  7. …and a Liberal Democrat is involved again! Time to end this duded term permanently! Justice just doesn’t happen when a democrat is involved!

  8. ALL THE ACCUSED NEED TO DO IS STATE THAT THEY ARE DEMOCRATS AND “THE NO HARM NO FOUL RULE APPLIES “. Just asking : When is enough ! ENOUGH????

  9. Acting with lightening speed on a Republican, But ZERO movement on the following cases: Joe Biden, Maxine Waters, Rashida Tlab, Ilhan Omar, Occasio Cortez, Adam Schiff and Hillary Rodham Clinton?

  10. Pelosi and her husband made millions on the same insider info. FBI and mainstream media never even whispered about this. Also no action on Feinstein. Appointing Wray was a big mistake. He is part of the cover-up and needs to be replaced.

  11. All this hype, not that I’m condoning insider trading, but after seeing all the wheeling and dealing going on within the Obama Administration regarding SOC Hillary Clinton and the Clinton Foundation and then V.P. Biden’s son Hunter with his sweet oil deal and China payment, I don’t see, as of yet, the scale of Justice being balanced. Even Pelosi has her deals with the tuna industry which is being taken as just par for the course in the Beltway Swamp. We’re just little fish out of water when it come to these dealings.

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