The seizure represents a significant escalation in the investigation into whether Burr violated a law preventing members of Congress from trading on insider information they have gleaned from their official work.
A Granada Hills real estate consultant has agreed to plead guilty and cooperate with the ongoing federal corruption investigation at Los Angeles City Hall.
In late February and early March, Sen. Kelly Loeffler sold stocks valued at between $1.25 million and $3.1 million in companies that later dropped significantly, including ExxonMobil. She also bought shares in Citrix, which makes telework software. Loeffler, who was appointed to her seat to fill a vacancy and faces an election later this year, said after the sales became public that she and her husband would divest all individual stocks.Burr, a longtime supporter of federal programs responsible for dealing with a pandemic, sits on two Senate committees that got early briefings on the coronavirus — the Intelligence Committee and the Senate committee that handles health issues.
Under the STOCK Act, lawmakers are required to disclose their stock market activity but are still allowed to own stock, even in industries they might oversee. The law passed the Senate in 2012 in a 96-3 vote. Among the three senators to oppose the bill was Burr.
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