Senate Intelligence Committee Chairman Richard Burr (R-N.C.) will step down as chairman as the FBI reportedly investigates his stock sales in the early days of the pandemic.
“Senator Burr contacted me this morning to inform me of his decision to step aside as Chairman of the Intelligence Committee during the pendency of the investigation,” Senate Majority Leader Mitch McConnell (R-Ky.) said in a statement on Thursday. “We agreed that this decision would be in the best interests of the committee and will be effective at the end of the day tomorrow.”
A report from the Los Angeles Times, citing anonymous sources, said the FBI served Burr with a search warrant and took his cellular phone earlier in the week. It was done, according to the news outlet, as part of the agencys investigation into Burrs stock sales.
Other news outlets, including the Wall Street Journal and New York Times, reported on the warrant development, but they also cited anonymous sources.
The FBI has not responded to a request for comment.
Burrs attorney, Alice Fisher, told ProPublica that the lawmaker did nothing wrong and “participated in the stock market based on public information,” adding that he didnt “coordinate his decision to trade on Feb. 13″ with Gerald Fauth, Burrs brother-in-law who sits on the National Mediation Board and also sold tens of thousands of stocks on the same day.
Its not clear if Fauth was served a warrant from the FBI.
Burr was among senators who sold holdings this year as intelligence officials delivered closed-door updates on the then-emerging threat from the CCP (Chinese Communist Party) virus, which at that time, hadnt infected many Americans. Efforts to slow the spread of the virus led to a number of businesses and companies to close their dooRead More From Source