Sen. Richard Burr Not Facing Charges for $1.7 Million in COVID Related Stock Sales

Alfredo Cuadros

Sen. Richard Burr will not be facing charges after an investigation looked into whether or not he may have committed insider trading as a result of the Coronavirus.

In early 2020 the North Carolina senator, and then senate intelligence committee chairman, was believed to have exploited information about the covid-19 epidemic and sold up to 1.7 million dollars in stocks before markets plummeted.

The concern was whether or not he used his status and information channels to gain an unfair advantage in the markets.

Burr acknowledged in a CNBC interview that he did sells stocks because of the corona virus, but said he relied on publicly available news reports to inform his decision.

The Associated Press confirmed that the justice department will not bring charges in this case.

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