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FBI serves warrant on Sen. Richard Burr over coronavirus-related inventory gross sales

FBI brokers reportedly seized the mobile phone of a North Carolina senator Wednesday as a part of a Justice Division investigation into the lawmaker’s eyebrow-raising inventory trades initially of the coronavirus disaster.

Sen. Richard Burr, the North Carolina Republican who chairs the Senate Intelligence Committee, handed over his telephone to the brokers after they served him with a search warrant at his Washington-area dwelling, an nameless official instructed Yahoo Information.

The Justice Division started probing Burr’s inventory transactions on the finish of March to gauge whether or not he violated a regulation stopping members of Congress from buying and selling on insider info they acquired by way of their jobs.

Burr had offered off $1.7 million in publicly traded shares per week earlier than the intensifying unfold of COVID-19 led the market to crash. He was amongst a handful of lawmakers who acquired confidential briefings on the virus from US well being officers.

Burr dumped his shares whereas publicly downplaying the dangers of the virus in media appearances and op-eds.

The senator has claimed that his transactions had been based mostly solely on media reviews and has invited the Senate Ethics Committee to assessment the gross sales.

Burr’s workplace declined to touch upon the report Wednesday evening.