Senator Dumped Up to $1.6 Million of Stock After Reassuring Public About Coronavirus Preparedness

Intelligence Chair Richard Burr’s sell-off came around the time he was receiving daily briefings on the health threat

Soon after he offered public assurances that the government was ready to battle the coronavirus, the powerful chairman of the Senate Intelligence Committee, Richard Burr, sold off a significant percentage of his stocks, unloading between $582,029 and $1.56 million of his holdings on February 13th in 29 separate transactions.

As the head of the Intelligence Committee, Burr, a North Carolina Republican, has access to the government’s most highly classified information about threats to America’s security. His committee was receiving daily coronavirus briefings around this time, according to a Reuters story.

A week after Burr’s sales, the stock market began a sharp decline and has lost about 30 percent since.