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Loeffler Sold Millions, Invested in Companies That Make Coronavirus Protective Garments: Report

Sen. Kelly Loeffler (R-Ga.) has been the topic of extensive criticism after it was reported that she dumped millions in stocks after a coronavirus briefing, and a recent report shed even more light on the southern…

Alex ThomasApr 1, 20202 min read

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She also bought stocks in companies manufacturing personal protective gear that protects healthcare workers against the coronavirus.

Loeffler’s spokesperson defended the transaction, telling AJC, “Sen. Loeffler came to Washington on a promise to be a different kind of elected official. She holds herself to high standards of ethics and transparency, including acting in accordance with both the letter and spirit of the law, which she has done at every step of her time in the Senate and in her lengthy career in financial services.”

Some of Loeffler’s sales came after senators held a private meeting discussing the coronavirus — raising the concern that she traded on nonpublic information. She has denied the allegations of insider trading.

But she has been criticized even by members of her own party. Rep. Doug Collins (R-Ga.) wrote on Twitter, “People are losing their jobs, their businesses, their retirements, and even their lives and Kelly Loeffler is profiting off their pain? I’m sickened just thinking about it.”

She is not the only senator who is accused of trading on nonpublic information. Sen. Richard Burr (R-N.C.) is also facing allegations of insider trading and is reportedly being investigated by the Department of Justice.