Insider Trading Allegations Against Another Republican Senator: Georgia Senator Kelly Loeffler

By now most of us have all heard about the allegations against Republican Senator Richard Burr. Yesterday, the FBI seized the cell phone of  Senate Intelligence Committee Chairman. Burr has since stepped down as the Committee Chairman but has not yet resigned from the Senate. According to Burgess Everett’s report in Politico, the day after Burr’s phone was confiscated in an insider trading investigation, Georgia Senator Kelly Loeffler (R-GA) was asked if she too had been contacted by the FBI about her stock transactions.

WASHINGTON, DC – FEBRUARY 25: Sen. Kelly Loeffler (R-GA) walks to an all Senators briefing from administration officials on the coronavirus, on Capitol Hill February 25, 2020 in Washington, DC. Representatives from HHS, CDC, NIH and State Department briefed the Senators. (Photo by Mark Wilson/Getty Images)

In a Tweet, Everett wrote that Loeffler did not answer the questions raised about her stock transactions. Earlier this year, the insider trading allegations were reported in The Daily Beast. Loeffler, along with her husband allegedly sold between $1,275,000 and $3,100,000 of stock, even as she also invested in Citrix, a company that develops and markets teleconferencing software that would likely benefit financially from a worldwide pandemic.

Both Senator’s Burr and Loeffler together sold between $2 and $4 million dollars of stock, and they sold the stock only after being in closed-door meetings specifically discussing the pandemic. It is at the very same time the Trump Administration towed the President’s line that the pandemic was not a major threat to the citizens of the US. These stocks slid like mud in Malibu causing major losses to the other stockholders, but not to Burr or Loeffler.

Richard Burr Photo: L.A. Times

Loeffler, has been an ardent supporter of the President and recently was quoted as saying, “The good news is the consumer is strong, the economy is strong, jobs are growing. Our president has done a fantastic job making sure that we’re in the best position to manage through this situation!”

Let’s see how Senator Loeffler manages THIS situation.

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