Senator David Perdue is receiving some well-earned scrutiny after a bombshell report from The Daily Beast revealed that the wealthy former corporate CEO once again “engaged in conspicuously timed trading.”
MSNBC’s Way Too Early with Kasie Hunt highlighted how Senator Perdue bought stock in a defense contractor for the first time before assuming the role of chairman of the Senate Armed Services Committee subcommittee with jurisdiction over the company’s federal priorities, helped steer lucrative federal funding to projects involving the same company, and subsequently dumped his shares at a profit.
MSNBC’s Kasie Hunt: “Amid a contentious re-election battle, Georgia Republican Senator David Perdue’s finances are coming under new scrutiny. According to The Daily Beast, just before Perdue was put in charge of the Senate Armed Services Committee on Sea Power, that happened last year, he bought up to $190,000 worth of stock in BWX Technologies. It’s a firm that holds lucrative contracts with the U.S. Navy. And a few months later, Perdue helped secure $4.7 billion in contracts for Virginia Class Submarines as part of his role in shaping the National Defense Authorization Act – that’s the massive bill that funds the Defense Department. BWX works with the Pentagon to design and make parts for submarines. Perdue later began selling off all of his shares of BWX, and it earned him between $15,000 and $50,000. A spokesperson for Perdue denied the allegations, saying that the Georgia Republican ‘doesn’t manage his trades, they are handled by outside financial advisers without his prior input or approval.’ Perdue also came under scrutiny for a similar issue earlier this year when he traded stock after a January briefing that was focused on the coronavirus.”
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