Senator under fire for selling stocks is getting out of market as ethics group calls for investigation

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WASHINGTON (NEXSTAR) – A Georgia senator says she’s getting out of the market altogether after coming under fire for stock trades. But that doesn’t mean the investigation is over.

“I’m not involved in directing stock trades,” Georgia Sen. Kelly Loeffler said Tuesday.

But the multi-millionaire Georgia Republican now says she’s selling all her stocks after allegations she violated Senate ethics rules on insider trading.

“These are false politically-motivated allegations that I will absolutely be proving wrong,” she said.

Loeffler – along with Sen. Richard Burr (R-NC) and Georgia’s other Senator David Perdue (R-GA) – are all defending recent stock sales.

The senators denied reports they used classified information from a private Senate briefing to sell certain stocks before the coronavirus pandemic caused the market to crash.

Burr has said he relied on “media reports” for his trading. He’s requested a Senate ethics investigation he says will clear him of wrongdoing.

“I’ve had outside professionals that managed my personal affairs,” Perdue told us back in March.

And Perdue’s office added he was not in the Senate briefing.

Noah Bookbinder with Citizens for Responsibility and Ethics in Washington is calling for continued investigation into the stock sales.

“I think there’s enough smoke there that an investigative body needs to look into it and see if there’s a fire,” Bookbinder said.

He also says Loeffler getting out of the market should not end the investigation.

Loeffler’s Republican Senate challenger – Congressman Doug Collins (R-GA) – says she needs to explain her actions to voters.

“I think the biggest problem she has right now is losing the trust of Georgians,” he said.

A National Republican Senatorial Committee spokesperson said, “Senator Loeffler continues to have widespread support.”

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