WASHINGTON – Sen. Richard Burr said Tuesday that the Justice Department has told him it will not prosecute him over stock sales made during the coronavirus pandemic, ending an insider trading investigation that led him to at least temporarily step aside from a powerful committee chairmanship last year.
Prosecutors had investigated for months whether the North Carolina Republican and former chairman of the Senate Intelligence Committee had exploited advance information when he unloaded as much as $1.7 million in stocks in the days before the coronavirus caused markets to plummet.
“The case is now closed,” Burr said in a statement. “I'm glad to hear it. My focus has been and will continue to be working for the people of North Carolina during this difficult time for our nation.”
His lawyer, Alice Fisher, described the investigation as a “thorough review” and said Burr, who has said he will not seek reelection after his term ends in 2023, would remain focused on “the safety and security of North Carolinians and the United States as a whole.”
A Justice Department spokesman did not immediately return a request for comment.