Loeffler Gives Records to DOJ on Stock Trades That Show She Had ‘Lack of Involvement’ in Managing Accounts, Her Office Says | Eastern North Carolina Now

Publisher's note: This informational nugget was sent to me by Ben Shapiro, who represents the Daily Wire, and since this is one of the most topical news events, it should be published on BCN.

The author of this post is Ryan Saavedra.

    Sen. Kelly Loeffler (R-GA) turned over financial records to authorities on Thursday relating to sales in stocks owned by her and her husband before the market crashed due to the coronavirus pandemic, which originated in China.

    "Senator Loeffler had forwarded documents and information to DOJ, the SEC, and the Senate Ethics Committee establishing that she and her husband acted entirely appropriately and observed both the letter and the spirit of the law," her office said in a statement. "The documents and information demonstrated her and her husband's lack of involvement in their managed accounts, as well the details of those accounts. Senator Loeffler had welcomed and responded to any questions from day one."

    Loeffler's husband, Jeffrey Sprecher, is the CEO of the Intercontinental Exchange (ICE), which owns the New York Stock Exchange (NYSE).

    Fox News reported:

• In March, news stories surfaced revealing that Loeffler and her husband sold stock on Jan. 24, the same day she sat in on a closed-door coronavirus briefing as a member of the Senate Health Committee with the Trump administration and with Dr. Anthony Fauci in attendance. On Tuesday, the Georgia senator defended herself once again responding to a question from host Sandra Smith.

    Loeffler told Fox Business in March, "I don't do trades, Neil. I'm not involved in my portfolio. My husband is not involved. Our portfolio is managed by third parties. The actions are blind to me until they put it in front of me at the end of the reporting period. And I will just tell you, in that portfolio, it's absolutely false that we sold millions. Actually, it was a more bullish bet. We ended up owning companies like Delta, like Goldman Sachs, like Prudential, companies that have been hard-hit and ended up losing money. No one has reported that and it doesn't, you know, it has nothing to do with knowledge I had or didn't have because I had no involvement in these trades."

    Since then, Loeffler and her husband have generously donated $1 million to the Phoebe Foundation's COVID-19 Relief Fund, which went toward supplying front line health care workers with personal protective equipment.

    Scott Steiner, Phoebe Putney Health System Chief Executive Officer, said in a statement, "Sen. Loeffler has been a wonderful partner with Phoebe throughout our entire response to the COVID-19 pandemic. I have spoken with her numerous times, and she has been a passionate advocate for hospitals in our state as we have sought federal resources to assist in our efforts to meet the unprecedented healthcare needs created by this public health crisis. I was blown away several weeks ago when Kelly and Jeff offered such a generous personal donation to help the Phoebe Family. They were clear, they want their gift to pay for PPE for our frontline staff, and that is exactly how we will utilize their donation."