Insider-Trading Allegation Chorus becomes Stronger against 4 US Lawmakers

  • Four US Senators (3 Republicans and 1 Democrat) are under scrutiny over claims of using insider knowledge (non-public information) of the COVID-19 novel coronavirus pandemic to sell shares before the stock prices plummeted. There is a widespread call for the Republican Senators Richard Burr (also Senate Intelligence Committee’s Chairman) and Kelly Loeffler to resign after they reportedly dumped $1.7 million and $3 million value of stocks as the Senate started briefing on the COVID-19 coronavirus and before the bloodbath in the stock market started. The other two senators are Republican Senator James Inhofe and Democrat Senator Dianne Feinstein, who also sold their stock holding at that time. As per the US constitution, it is illegal for the US Congress members to trade based on official information gathered while performing official duties. The latest revelations came to light after a probe was launched by ProPublica in the financial filings of the Chairman of Senate Intelligence Committee, Richard Burr.