Report - US Senator dumped up to USD 1.6m of stocks after reassuring public about coronavirus preparedness

Author: Eamonn Sheridan | Category: News

A report on sales of shares by the chair of the US Senate Intelligence Committee just prior to the market collapse. 

The report comes via ProPublica, link here if you'd like more but in summary:
  • Soon after he offered public assurances that the government was ready
  • sold off between $582,029 and $1.56 million of his holdings on February 13 in 29 separate transactions
More:
  • As the head of the intelligence committee, Burr, a North Carolina Republican, has access to the government's most highly classified information about threats to America's security. 
  • His committee was receiving daily coronavirus briefings around this time, according to a Reuters story.
  • A week after Burr's sales, the stock market began a sharp decline and has lost about 30% since.
A report on sales of shares by the chair of the US Senate Intelligence Committee just prior to the market collapse. 




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