On Tuesday, The Wall Street Journal reported that Justice Department officials are closing insider trading investigations into three senators — Sens. Dianne Feinstein (D-CA), Kelly Loeffler (R-GA), and Jim Inhofe (R-OK).
However, a fourth probe, into insider trading allegations against Sen. Richard Burr (R-NC), is reportedly ongoing.
"The Federal Bureau of Investigation began the investigations two months ago, as reports emerged that several members of Congress, their spouses or their investment advisers sold hundreds of thousands of dollars in stock after lawmakers attended closed-door briefings about the threat posed by the new coronavirus," reported Aruna Viswanatha. "Some of those trades spared lawmakers as much as hundreds of thousands of dollars in losses as stocks sank by mid-March."
Feinstein, Loeffler, and Inhofe all claim the trades were made by their investment advisers without their knowledge. Burr acknowledges he was directly involved in his trades, but asserts he was acting on public reports coming from Asia, not the classified briefings he was receiving at the time.