CASE CLOSED

DOJ Drops Insider Trading Investigation Into Kelly Loeffler: Report

DOJ reportedly told lawyers for Loeffler and two other senators scrutinized for their coronavirus-era stock trades that they are closing their probes.

The Justice Department will not file insider trading charges against Sen. Kelly Loeffler (R-GA), the Wall Street Journal reported on Tuesday. DOJ informed lawyers for Loeffler and two other senators scrutinized for their coronavirus-era stock trades that they are closing their investigations into the matters. A DOJ investigation into Sen. Richard Burr (R-NC) remains ongoing, the Journal reported. Loeffler and her husband, New York Stock Exchange chairman Jeffrey Sprecher, have vehemently denied that their sales of millions of dollars in stock this year were prompted or informed by information gleaned from a closed-door Senate briefing on the coronavirus in early January. Those sales were first reported by The Daily Beast in March.

Loeffler has nonetheless struggled to contain the political fallout from the controversy ahead of a tough primary fight against Rep. Doug Collins (R-GA). Loeffler announced in April that she and her husband would liquidate their individual stock holdings in response to the controversy. Her campaign has since poured money into advertising campaigns pushing back on insider-trading allegations.