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A super PAC which was planning to spend a million dollars to back Doug Collins’ bid to unseat Senator Kelly Loeffler in the Georgia Senate Republican Party primary has unleashed a new ad blasting the senator for unloading millions in stock right before the coronavirus pandemic.

As Fox News reports:

A super PAC that says it plans to spend seven figures supporting Rep. Doug Collins, R-Ga., in his effort to unseat Sen. Kelly Loeffler, R-Ga., in a special election this fall released an ad Tuesday attacking Loeffler for alleged insider trading based on information about the coronavirus threat she got through her job as a senator.

The ad, commissioned by the Trump-backing Great America PAC and first obtained by Fox News, is based on reports Loeffler sold up to $3.1 million in stocks ahead of the market collapse caused by the coronavirus, which would be illegal if she did so based on knowledge acquired from her work.

Loeffler has adamantly denied the allegations, saying that she did not even have any knowledge of the trades, which she says were made by advisers “without” her family’s “input, direction or knowledge.”

The ad, however, says that “Loeffler attended a private Senate briefing on the coronavirus threat. That same day, Loeffler and her husband, who runs the New York Stock Exchange, began selling millions in personal stock before the market dropped.” It also notes another sale of travel stocks that occurred before Trump banned travel from Europe.

Loeffler responded by blasting the Great America PAC, calling it a “ScamPAC” that has been denounced by the Trump Administration

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Jake Walker has written for American Action News since the summer of 2019. His passions include geopolitics, history, and contemporary American politics. Jake's arrival in Washington, D.C. followed a rural New England upbringing in a tight-knit family.

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Sirdirkfan
Sirdirkfan
2 years ago

Feinstein, Loeffler, Burr, etc. are insider trader white collar criminals, long beyond being accidental violation-of-ethics sellers b/c of their third parties they are blaming it on.

LL
LL
2 years ago
Reply to  Sirdirkfan

Sirdirkfan – How can she say “she did not even have any knowledge of the trades, which she says were made by advisers “without” her family’s “input, direction or knowledge.” When one has stock they don’t blindly let someone else handle their money – that is BS. One gets quarterly statements when one owns stock, plus they are able to check the daily status. When her own husband is chairman of the NYSE, that’s even more BS. She is as crooked as it comes. Her own background is another reason why she knew full well about the stock trading. She’s another get rich schemer in a guise of a government official that “cares about the people. She will continue to get rich off the constituents as long as she’s still elected. Pres. Trump will not endorse her, he will endorse Doug Collins – a true Republican for the people.

Bill
Bill
2 years ago

I am a Georgia resident and support Doug Collins. He has served his district and our state well and has earned his stripes. He is a true conservative and will support President Trump in his efforts to make America greater.

Cowbulls
Cowbulls
2 years ago
Reply to  Bill

You are missing the point. Collins is so far right that he will have a very tough time getting any surburbran housewife votes in metro Atlanta. That could very well give that seat to the Democrats. Worse if that is possible is the trickle down effect for US House seats as well as Georgia House and Senate seats.

Jojodmonkey
Jojodmonkey
2 years ago

Loefflet is a corrupt RINO!