Yesterday I reported on the brilliant stock market trading of House Majority Leader Nancy Pelosi and her husband (article here). Today there is a report out about a brilliant Senator whose superior intellect allowed him to avoid major losses in the stock market.
The Daily Caller reports:
Sen. Richard Burr’s “well-timed stock sales” prior to the economic downturn in late February 2020 saved him over $87,000, according to an FBI search warrant affidavit unsealed Monday.
The unsealed warrant is in connection to a prior Justice Department (DOJ) investigation into alleged insider trading by the North Carolina Republican during the early stages of the COVID-19 pandemic — which was closed in January 2021 after the DOJ decided not to pursue charges. The senator profited over $144,000 on his stock sales in February 2020, the affidavit says.
The article concludes:
Burr also called his brother-in-law after he sold the stocks, the Securities and Exchange Commission (SEC) alleged in October 2021, according to ProPublica. His brother-in-law sold up to $280,000 worth of stock that same day, the outlet previously reported.
The SEC was reportedly investigating the incident for possible insider trading and it is unclear if that probe is ongoing.
Burr’s office did not respond to a request for comment nor did the FBI or the SEC.
Oh to trade in the stock market like Congress trades.