A day after his cellphone was seized by federal agents as part of an FBI investigation into insider trading, North Carolina U.S. Sen. Richard Burr is leaving his position as chairman of the Senate Intelligence Committee.
“Senator Burr contacted me this morning to inform me of his decision to step aside as Chairman of the Intelligence Committee during the pendency of the investigation,” Senate Majority Leader Mitch McConnell, R-Kentucky, said in a statement. “We agreed that this decision would be in the best interests of the committee and will be effective at the end of the day tomorrow.”
Almost 50 members of Congress, between both houses, made thousands of stock exchanges during the coronavirus outbreak in an effort to capitalize on the economic turmoil, according to a report by Politico.
The Justice Department is probing a series of stock trades that Senate Intelligence Committee Chairman Richard Burr (R-NC) made in the weeks after receiving briefings about the coronavirus pandemic, CNN reported.
The Justice Department is coordinating with the Securities and Exchange Commission on the matter, and the FBI has contacted Barr, a North Carolina Republican, according to CNN, which cited two people familiar with the matter.
Four-term Republican Rep. Chris Collins of New York submitted his resignation from Congress Monday, one day before he’s expected to plead guilty to charges of insider trading.