DOJ Drops Sen. Burr Insider-Trading Investigation

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The months-long investigation into allegations that Republican Sen. Richard Burr of North Carolina engaged in insider trading has been closed by the Justice Department and it will not pursue any charges, reports NPR.  The FBI launched a probe into Burr’s business dealings after the senator, who served as the chairman of the Intelligence Committee, sold off his own stocks in travel companies, which just weeks later would suffer decimating losses. Days before the stock sale, Burr had co-authored an opinion piece that sought to reassure the public about the government’s response to coronavirus. However, two weeks after selling his shares, he privately warned a group of well-connected constituents that the virus was “much more aggressive in its transmission than anything that we have seen in recent history,” comparing it to the 1918 flu pandemic. Burr has consistently denied allegations of wrongdoing, but in an effort to not distract from the work of the committee, he temporarily stepped down as chairman.

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