/Capitol Report: Sen. Loeffler denies any role in stock sales as coronavirus crisis worsened

Capitol Report: Sen. Loeffler denies any role in stock sales as coronavirus crisis worsened


Associated Press

Sen. Kelly Loeffler said she had no knowledge of stock sales made on her behalf by a blind trust as the coronavirus crisis worsened. She and other lawmakers have come under intense criticism after news of the sales came to light.

Sen. Kelly Loeffler of Georgia said she had no knowledge of stock sales and purchases undertaken by the advisers of her blind trust shortly after she received an intelligence briefing about the coronavirus epidemic in late January.

In an interview with CNBC, Loeffler on Friday said she did not have any conversations with her advisers and that she did not learn of the stock transactions until weeks after they took place. She insisted she has followed all legal and ethical rules.

Loeffler and other lawmakers have come under fire after disclosures of large stock sales in the past several months.

Others whose blind trusts have engaged in sales include Democratic Sen. Diane Feinstein of California and Republican Sen. James Inhofe of Oklahoma. Both of those senators said they had no knowledge of recent stock transactions until they were notified by their advisers.

Republican Sen. Richard Burr of North Carolina also sold stock, but his investments were not in a blind trust. Burr has since requested a Senate ethics investigation into his action in response to intense public criticism.

Both Burr and Loeffler received non-public information about the global spread of coronavirus from White House officials who have been briefing senators regularly since at least January.

Members of Congress are prohibited by law from using non-public information they obtain through their official positions in order to personally profit off the stock market.

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