Loeffler Sends Stock Documents to DOJ, Senate Ethics Committee

Sen. Kelly Loeffler (R-Ga.), the most recent addition to the Senate, sent documents and other information pertaining to the sales of stocks made earlier this year, while Sen. Dianne Feinstein (D-Calif.) said she answered questions from the FBI over stock sales.

The senators were among those who disclosed stock sales in the early weeks of what ultimately became the COVID-19 pandemic.

Some of the senators received closed-door briefings on the developing situation, causing concern they used information they received to dump stocks in companies they believed wouldnt fare well when the Chinese Communist Party (CCP) virus spread widely.

Loeffler, who disclosed nearly $20 million in transactions completed in the first quarter, forwarded “documents and information” to the Department of Justice, the Securities and Exchange Commission, and the Senate Ethics Committee, a spokesperson said in a statement sent to news outlets this week.

The documents show that both the senator and her husband “acted entirely appropriately and observed both the letter and the spirit of the law” and that her husband Jeff Sprecher, the CEO of a company that owns the New York Stock Exchange, wasnt involved in the accounts from which the sales were made, the spokesperson said.

Epoch Times Photo
Epoch Times Photo
Vice President Mike Pence (R) conducts the ceremonial swearing-in of Sen. Kelly Loeffler (R-Ga.) (L) as her husband Jeffrey Sprecher looks on, in the Old Senate of the U.S. Capitol in Washington on Jan. 6, 2020. (Mandel Ngan/AFP/Getty Images)

Loeffler said last month that investment decisions are made by third-party advisers and she wasnt told of the sales and purchases until weeks after they were made.

Facing increasing criticism after reporting nearly $1.5 million in sales from March, Loeffler said early last month that she would liquidate her stocks.

A spokesperson for Feinstein, meanwhile, told reporters in Washington that the senator answered questions from law enforcement about sales her husband made in January and February.

“Senator Feinstein was asked some basic questions by law enforcement about her husbands stock transactions, as I think all offices in the initial story were,” the spokesman told news outlets.

Sen. Dianne Feinstein (D-Calif.) speaks to members of the press at the U.S. Capitol in Washington, on May 7, 2020. (Alex Wong/Getty Images)

Theres been no follow-up action, as far as Feinstein knows.

Feinstein has been in office since 1992. The oldest member of Congress, she sold between $1.5 million and $6 million in stock from a California biotech company called Allogene Therapeutics between Jan. 31 and Feb. 18, according to disclosure forms.

Feinstein described her assets as being in a blind trust but also said her husband, investment banker Richard Blum, sold the Allogene shares.

“Under Senate rules I report my husbands financial transactions. I have no input into his decisions. My husband in January and FebruaryRead More From Source

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The Epoch Times

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