A new ProPublica report confirms “there is an ongoing insider trading investigation” into retiring North Carolina Sen. Richard Burr’s COVID stock trading, as well as those of his brother-in-law Gerald Fauth, with the damning revelation that Fauth in February 2020 called his stock broker just one minute after a 50-second phone call with Burr.
ProPublica’s reporting further establishes that, as Burr and Fauth dumped stocks ahead of the March 2020 market drop, “Burr, according to the SEC, had material nonpublic information regarding the incoming economic impact of coronavirus.”
The Republican Senate candidates running to replace Burr — Ted Budd, Pat McCrory, and Mark Walker — owe voters answers to a number of questions, including:
- Will you definitively promise not to personally profit off stock trades based on material nonpublic information, if you’re elected?
- What are appropriate consequences for Senator Burr, if these allegations are proven, once the investigation into Burr’s actions is completed?
- Will you reject Senator Burr’s political and financial support if he’s proven to have engaged in illegal insider trading and looked to put his personal wealth first as a public health crisis was unfolding?
Read the full report from ProPublica: “Burr’s Brother-in-Law Called Stock Broker, One Minute After Getting Off Phone With Senator.”