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Sen. Kelly Loeffler and Husband Shifted Investments to Medical Supplier Ahead of Market Crash

HeadlineApr 02, 2020

Georgia Republican Senator Kelly Loeffler is facing fresh calls to resign over revelations that her husband invested heavily in a medical supply company ahead of the stock market’s coronavirus crash. Senator Loeffler’s latest financial disclosures show her husband, Jeffrey Sprecher, who’s chair of the New York Stock Exchange, bought more than $200,000 worth of shares of DuPont in late February and early March, when Loeffler had access to privileged briefings about the threat of the coronavirus. DuPont produces personal protective equipment for medical workers. In February, Senator Loeffler and her husband began dumping millions of dollars’ worth of shares in companies that have since plummeted in value. At the time, Loeffler publicly downplayed the risk of a pandemic, tweeting, “Democrats have dangerously and intentionally misled the American people on #Coronavirus readiness.”

Another Republican senator, Intelligence Committee Chair Richard Burr of North Carolina, faces a Senate ethics probe and an FBI investigation after he sold as much as $1.7 million worth of stocks just days before markets began tanking in February.

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