Sen. Richard Burr's stock transactions — 33 on a single day: Feb.13 — present a unique challenge for investigators because he is a member of Congress.
that the senator dumped up to $1.7 million in stocks, while assuring the public that the U.S. was well positioned to withstand a pandemic.
"Was [that information] something that you and I, if we were shareholders of that company, would have reasonably expected it to be considered significant at the time?" said Doug Davison, a former Securities and Exchange Commission enforcement lawyer, laying out a key question that investigators would have."The investigation needs to be surgical in the sense that you need to really focus like a laser on what information was provided to the Congress folks.
Second, as a senator, Burr may be able to cite the Speech or Debate Clause of the Constitution, which gives lawmakers protections related to their official duties. "It's not prohibitive in terms of making a case, but it certainly is harder when it is generalized information like that," said Joon Kim, the former acting U.S. attorney for the Southern District of New York."The DOJ and SEC don't go into investigations saying, 'Oh, this is this is going to be challenging, so let's not do it,'"Kim told NPR."You go in saying, 'Is there something here that deserves investigation?' ...
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