Loeffler turns over documents to SEC and DOJ amid stock-trading controversy
Sen. Kelly Loeffler has turned over documents to the Justice Department, the Securities and Exchange Commission and the Senate Ethics Committee amid ongoing scrutiny over her stock trades, according to her spokesperson.
In a statement released Thursday, the Georgia Republican’s spokesperson said the documents showed that she and her husband, Jeffrey Sprecher, chairman of the New York Stock Exchange, “acted entirely appropriately and observed both the letter and the spirit of the law.”
“The documents and information demonstrated her and her husband’s lack of involvement in their managed accounts, as well the details of those accounts,” the statement said.
Earlier Thursday, Loeffler repeatedly declined to answer questions about whether the FBI had contacted her about her stock trades as the agency did for Sen. Dianne Feinstein (D-Calif.) in relation to her husband’s transactions.
The latest statement comes amid an intensifying swirl around senators’ individual stock transactions and allegations of insider trading.
It also comes just hours after Senate Intelligence Committee Chairman Richard Burr (R-N.C.) said he would step down from his post atop the powerful panel a day after the FBI served a warrant for his cellphone.
Burr has come under intense scrutiny for making more than two dozen stock transactions in February after receiving a private briefing on the coronavirus pandemic. Burr’s brother-in-law also reportedly dumped thousands in stocks the same day, according to ProPublica. Burr has denied any criminal wrongdoing.
Loeffler's office said earlier Thursday she was not served a search warrant.
The Daily Beast reported in March that Loeffler sold millions of dollars in stocks after receiving a similar briefing on the coronavirus. While the Georgia Republican has denied any wrongdoing and maintains that she used third-party advisers, she announced last month that she would liquidate her individual stock holdings. In addition, Loeffler has recused herself from a Senate Agriculture subcommittee to further quell the controversy.
Loeffler was appointed by Georgia Gov. Brian Kemp in December to replace Republican Sen. Johnny Isakson, who retired because of health issues. Loeffler faces an intraparty challenge from Rep. Doug Collins, who has hammered her over her financial transactions.
Georgia will hold a special election for her seat in November. The election is an all-party contest and will go to a January runoff if no candidate receives a majority of the vote.
Prior to her appointment to the Senate, Loeffler was CEO of Bakkt, a financial services firm.
