Richard Burr’s Cell Phone Seized in Investigation of Possible Insider Trading
Federal agents seized a phone that belonged to a renowned Republican senator Wednesday as part of the Justice Department’s probe into controversial stock sales he made when coronavirus first struck the US.
North Carolina’s Sen. Richard Burr, the chairman of the Senate Intelligence Committee, surrendered his phone to agents after they served a search warrant on the lawmaker at his residence in the Washington area.
The seizure represented a significant escalation in the investigation into whether Burr violated the law that prevented members of Congress from trading on insider information they had gleaned from their official work.
Law enforcement officials stated that the Justice Department was examining the communication between Burr and his broker.
According to the authorities, Burr sold a significant percentage of his stock portfolio in 33 different transactions on February 13, just as his committee was receiving daily coronavirus briefings and a week before the stock market declined sharply.
Burr said that he would ask the Senate Ethics Committee to review the sales.