Justice Dept. closes insider trading investigation into Sen. Richard Burr without criminal charges

North Carolina news

WASHINGTON (WNCN/AP) – The U.S. Department of Justice has closed an insider trading investigation into Sen. Richard Burr without criminal charges.

“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. I’m glad to hear it. My focus has been and will continue to be working for the people of North Carolina during this difficult time for our nation,” Burr said in a statement Tuesday.

Back in March, the Federal Bureau of Investigation seized a cellphone belonging to North Carolina Republican Sen. Richard Burr as part of a probe into controversial stock sales at the induction of COVID-19 in the United States.

The FBI reached out to Burr in late March to determine whether he exploited advance information when he dumped as much as $1.7 million in stocks in the days before the coronavirus wreaked havoc on the economy.

Burr’s selloff amounted to between $628,000 and $1.72 million. The stock sales were first reported by ProPublica and The Center for Responsive Politics. He was one of several senators whose financial dealings generated scrutiny in recent months.

Burr has denied wrongdoing and requested an ethics review of the stock sales.

In a statement, Alice Fisher, an attorney for Burr, said, “Senator Burr is pleased that the Department of Justice has completed a thorough review of this matter and closed it without further action. As the country continues to concentrate efforts on battling the challenges presented by COVID-19, Senator Burr’s focus will remain on the safety and security of North Carolinians and the United States as a whole.”

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