.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
Parkland's David Hogg: NRA Lobbyists Are Cowards
The survivor of last week's attack in southern Florida told Cheddar that it's unpatriotic to "buy democracy" from the American people. He says those lobbying against stricter gun control laws are cowards and "child murderers".
Closing Bell: February 22, 2018
Paul Manafort and Robert Gates face 32 new charges in Robert Mueller's Russia investigation. Snap CEO Evan Spiegel gets a record-breaking payday. Teenagers across the country and politicians continues to weigh in on gun control in the wake of the mass shooting in Parkland, FL.
Why This Student-Driven Movement on Gun Reform is Different
In the wake of last week's mass shooting teenagers are becoming outspoken advocates for change. In these rallies driven by students the advocates demand a better future for their peers. Bustle's Senior Political Correspondent Erin Delmore explains what makes this movement different than others.
Parkland Students Push for Gun Reform
Marjory Stoneman Douglas High School student Kyle Kashuv says he's changed his viewpoint on gun control after witnessing such a tragedy in his community. Cheddar's Hope King and Baker Machado speak with Kashuv one day after the 16-year-old student met with Florida legislators.
From Columbine to Parkland: A Journey of Gun Reform
Dave Cullen, Author of "Columbine" joins The Hive from Tallahassee, Florida where he's following the protests of Parkland students. He's been interviewing groups of students over the past few days and gives us a glimpse inside how they plan to keep the #NeverAgain movement alive.
A Message from Parkland to Congress
VF Hive hosts Kristen Scholer and Jon Kelly discuss the week's biggest news stories. From student protests to Jared Kushner's security clearance, it's been a non-stop week in Washington.
Load More