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