FBI is probing US Senator who sold $1.7 million stocks before Coronavirus market crash

A high ranking U.S. Senator, Richard Burr, is now under a FBI investigation on the orders of the Department of Justice (DoJ), probe for insider trading.

Senator Burr who was the Senate chairman on intelligence was discovered to have sold his stocks worth more a I about $1.7 million in value weeks before the stock market crashed due to the Coronavirus pandemic.

While Burr has now resigned as the Senate chairman on intelligence, he is still a Senator. In his own defense, he argued through his attorney that he did not make those trades based on intelligence but based on public information from newspaper and websites.

Burr has submitted his phones as part of the Department of Justice investigations. Of he is found guilty of the allegations, he could lose his seat at the Senate and also risk a jail term.

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