By Robert Faturechi, ProPublica
After Sen. Richard Burr of North Carolina dumped more than $1.6 million in stocks in February 2020 a week before the coronavirus market crash, he called his brother-in-law, according to a new Securities and Exchange Commission filing.
They talked for 50 seconds.
Burr, according to the SEC, had material nonpublic information regarding the incoming economic impact of coronavirus.
The very next minute, Burr’s brother-in-law, Gerald Fauth, called his broker.
ProPublica previously reported that Fauth, a member of the National Mediation Board, had dumped stock the same day Burr did. But it was previously unknown that Burr and Fauth spoke that day, and that their contact came just before Fauth began the process of dumping stock himself.
The revelations come as part of an effort by the SEC to force Fauth to comply with a subpoena that the agency said he has stonewalled for more than a year, and which was filed not long after ProPublica’s story.
Recent Posts
Iran Says It Won’t Negotiate With ‘Erratic’ Trump After Genocidal Threat to ‘Blow Up’ Whole Country
Take Action Now “Our assessment is that Trump effectively lacks both a coherent plan and the capacity to secure even a temporary agreement,” an…
The Case for Blaming Billionaires
Take Action Now Criticizing the billionaire class may lack nuance, but the ultrawealthy are robbing us of our voice and vote, trashing our…
This Isn’t Just Trump’s War on Iran. Both Parties Paved the Way for Disaster.
Take Action Now We must recognize Democrats share responsibility with the GOP for creating the climate that made such a war possible.By Stephen…
He is Seriously, Frighteningly, Utterly, and Completely Losing His Mind
Take Action Now We are all endangered. What happens if, in a demented rage, he hurls a nuclear bomb? Who is watching the “football” with the nuclear…