.By Mary Clare Jalonick and Eric Tucker

Sen. Richard Burr, R-N.C., stepped aside as chairman of the Senate Intelligence Committee on Thursday after the FBI served a search warrant for his phone as part of an ongoing insider-trading investigation tied to the coronavirus pandemic.

Senate Majority Leader Mitch McConnell announced the move, saying he and Burr had agreed it was in the Senate's best interests.

FBI officials showed up at Burr's home with the warrant on Wednesday, marking a significant escalation into the Justice Department's investigation into whether Burr broke the law with a well-timed sale of stocks before the coronavirus caused markets to plummet,

The Justice Department declined to comment. His attorney did not respond to phone and email messages, but said last month that the law is clear that any senator can participate in stock market trading based on public information "as Sen. Burr did."

Share:
More In Politics
U.S. Unemployment Claims Slip to Still-High 787,000
The number of Americans seeking unemployment aid fell slightly to 787,000, evidence of a job market stumbling in the face of the viral pandemic and the damage it has inflicted on the economy for nearly 10 months.
Warnock, Ossoff Win in Georgia, Handing Dems Senate control
Democrats have won both Georgia Senate seats — and with them, the U.S. Senate majority. That's a stunning defeat for President Donald Trump in his final days in office and it dramatically improves the fate of President-elect Joe Biden’s progressive agenda.
Load More