DOJ Drops Insider Trading Investigation Involving Sen. Richard Burr

With all that happened last year, it may feel like the Department of Justice began investigating the stock trading patterns of Sen. Richard Burr a lifetime ago. Just before the COVID-19 pandemic shut down the nation, Burr was accused of using his extensive knowledge of the pandemic as a politician to influence his decision to dump $1.7 million in travel stocks as a private citizen. Making matters worse, he co-authored an op-ed assuring the public's confidence in the government's response to the pandemic. Despite his attempts to assure the public, suspicion of insider trading only grew as the value of Burr's old stocks fell during the pandemic.

"No matter the outbreak or threat, Congress and the federal government have been vigilant in identifying gaps in its readiness efforts and improving its response capabilities," he and former Sen. Alexander Lamar Alexander wrote.

"The public health preparedness and response framework that Congress has put in place and that the Trump Administration is actively implementing today is helping to protect Americans. Over the years, this framework has been designed to be flexible and innovative so that we are not only ready to face the coronavirus today but new public health threats in the future."

In spite of calls for his arrest, Burr has maintained his innocence regarding insider trading accusations. Over the last year, the Department of Justice has launched a probe regarding Burr's actions. After months of work, the Department of Justice has moved to drop the investigation into Burr's actions. Breathing a sigh of relief, Burr issued a statement regarding the matter.

"Tonight, the Department of Justice informed me that it has concluded its review of my personal financial transactions conducted early last year. The case is now closed," he stated.

Burr will return to the Senate later this month as Congress convenes for the first time during the Biden administration.

Photo Credit: Getty Images

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