WASHINGTON, D.C. (WSOC) — Republican Sen. Richard Burr of North Carolina is stepping aside as chairman of the influential Senate Intelligence Committee while he’s under investigation for stock trades he made ahead of the market downturn sparked by the coronavirus pandemic.
Senate Majority Leader Mitch McConnell said in a statement Thursday that Burr “contacted me this morning to inform me of his decision to step aside as Chairman of the Intelligence Committee during the pendency of the investigation. We agreed that this decision would be in the best interests of the committee and will be effective at the end of the day tomorrow.”
The FBI served a search warrant Wednesday on U.S. Sen. Richard Burr, who serves North Carolina, according to the L.A. Times.
Federal agents took Burr’s cellphone as part of the Justice Department’s investigation into his stock trades before the market tanked.
Financial documents show Burr, a Republican, sold 33 stocks in February, which were valued near $1 million. Some people claimed he had inside information about the coronavirus because he’s on the Senate Intelligence Committee.
Burr said his decision to sell those stocks was based on public news reports.