The FBI is continuing its investigation into U.S. Senator Richard Burr (R-NC) over alleged insider trading.
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And on Thursday morning, Senate Majority Leader Mitch McConnell announced that Burr had informed him he was stepping aside as Chairman of the Intelligence Committee during the investigation. Federal agents also executed a search warrant to seize Burr's cell phone, according to the L.A. Times.
"We agreed that this decision would be in the best interests of the committee and will be effective at the end of the day tomorrow,” Mitch McConnell said in a statement.
Burr, who chairs the Senate Intelligence Committee, is accused of selling off $1.6 million in stocks in February, about a week before the market tanked due to the pandemic. He's also accused of tipping off wealthy donors about the looming decline.
Burr claims he made the decision based on public reports, and not inside information.
“I don’t believe he did anything criminally wrong, maybe used poor judgment, I guess, but I know Richard and he’s the one guy I can tell you who actually does watch CNBC Hong Kong,” Sen. Lindsey Graham said. “The bottom line is, let’s just see how this turns out. I’ve got nothing but good things to say about Richard Burr.”
Read the full report on the Washington Post.