A new report reveals Senator Kelly Loeffler’s husband also sold millions of dollars in stock holdings ahead of the coronavirus outbreak — but did not disclose those transactions. The CEO of the parent company that owns the New York Stock Exchange dumped $3.5 million in holdings on February 26, after he and his wife Senator Loeffler had already sold millions of other stocks following a briefing she attended on the coronavirus outbreak.
Even as she and her husband sold shares in companies before the market downturn — and invested in telework companies that now benefit from nationwide work from home mandates — Senator Loeffler “publicly downplayed the risks to public health from the virus.”
“The Senate Ethics Committee, SEC and Justice Department must look into these transactions immediately, and Senator Loeffler should explain to Georgians why she was more concerned about protecting her fortune than the people she was appointed to serve,” said DSCC spokesperson Helen Kalla.
Senator Loeffler’s questionable transactions have received national and in-state scrutiny. The New York Times editorial board demanded an ethics investigation. The Atlanta Journal-Constitution put their damning report on the front-page, and there’s been wall-to-wall TV coverage like this across the state about how Loeffler’s stock transactions “are raising questions whether [she was] getting even richer with early knowledge of the virus’s threat.”
It’s a significant liability for the appointed “political mega-donor” who was already facing ethical issues and conflicts of interest, and questions about her assignment to the Senate subcommittee directly charged with overseeing a key regulator for her business interests.
Read the full report here.
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