Sen. Richard Burr investigated by the FBI for inisder trading.
Sen. Richard Burr (R-NC) has stepped down as the chairman of the Senate Intelligence Committee after the FBI got a warrant and seized his cell phone.
Senate Majority Leader McConnell announced that Burr is stepping down from his powerful committee chairmanship:
Video from MSNBC:
Sen. Burr’s office said he is stepping down so that he doesn’t distract the Senate Intelligence Committee:
Sen. Burr is currently under investigation for insider trading after he dumped $1.6 million in stocks before the coronavirus hit the United States. The FBI is investigating the Senator from North Carolina for using information gained from his position as Intelligence Committee chairman to avoid the stock market crash that came with the pandemic.
Burr also gave his top donors a secret briefing telling them to prepare for the virus, while he was downplaying the threat to the public.
It is going to be difficult for the federal government to charge Burr with a crime unless there is smoking-gun evidence on his phone, but it is unlikely that leaving the Intel Committee will be enough to save him from resigning.
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