In a later interview, the adviser appears to have told the FBI that Fauth sounded hurried and that he mentioned knowing a senator in Washington.Īccording to the FBI, the Burrs' stock sell orders were put in between 11:38 and 11:49 a.m.įauth's orders were put in between 11:55 a.m. Just two minutes after Fauth's conversation with his brother-law ended, Fauth called his investment manager and they talked for just shy of half an hour. Twenty minutes after that, Burr also used his cellphone to call Fauth, according to records obtained by the Justice Department. ET on the 13th, and they spoke for two minutes. Fauth."īut the FBI evidence released on Monday shows that Burr's wife called her brother shortly after 11 a.m.
#Instock trades series#
13, 2020 was Burr's brother-in-law, Gerald Fauth.Īccording to the affidavit, records show that a series of sell orders were placed into an account belonging to Fauth's wife, Mary Fauth, just before noon on the 13th, amounting to around $159,100.īurr's attorney, Alice Fisher, told ProPublica in May of 2020 that Burr "did not coordinate his decision to trade on Feb. The other person in Burr's family who sold a lot of stock on Feb. Monday's filing was the first time the exact amounts had been made public.Īccording to the FBI, "As a result of Senator Burr's sales on February 13, 2020, his portfolio went from approximately 83% in equities to approximately 3% in equities."Ī week later, markets began a steep slide as investors panicked over the potential economic damage from the coronavirus. That the Burrs sold stock was reported at the time, but the value of the sale was only reported within a range. One day after Burr's big Treasury bill purchase, Burr and his wife unloaded equity shares worth approximately $1.1 million. He also noted that the Dow Jones Industrial Average closed at a record high of 29,551.42 on Feb. Treasury funds to hedge against a potential market downturn," the FBI special agent, Brandon Merriman, notes. 12, Burr ordered the purchase of approximately $1.2 million of Treasury securities, using 76% of the total holdings in Burr and his wife's joint account.
That same day, Burr put in orders to sell nearly $110,000 in stock from his and his wife's brokerage accounts. 31, Burr received nonpublic information from a source whose name is redacted in the FBI documents.
Nonetheless, as chair of the Senate Intelligence Committee, Burr was given access to classified intelligence reports in January and early February that contained dire warnings about the coronavirus. From the start, Burr has insisted that the only information he relied upon in deciding to sell his stocks was publicly available, including reports by CNBC correspondents in Asia.
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