Dupage Policy Journal

Dupage Policy Journal

Monday, March 30, 2020

Ives seeks probe of senators who allegedly engaged in insider trading after coronavirus briefings

Politics

By Joe Chen | Mar 26, 2020

Jeanneives
Jeanne Ives

Jeanne Ives, who recently won the Republican nomination for the U.S. House seat in Illinois' Sixth Congressional District, has called for an investigation of senators who allegedly engaged in insider trading after a confidential briefing on the coronavirus.  

"Illinoisans know all too well how devastating self-serving politicians can be," Ives said in a statement March 20. 

Sen. Richard Burr (R-N.C.), chairman of the Senate Intelligence Committee, allegedly sold between $628,00 to $1.72 million in stocks after receiving confidential briefings on COVID-19, Ives' statement cites. 

"All of these senators should be investigated by authorities and the Senate Ethics Committee," Ives said. 

Sen. Dianne Feinstein (D-Calif.) and Sen. Kelly Loeffler (R-Ga.) also allegedly sold millions of dollars worth of stocks in February. 

Sen. James Inhofe (R-Okla.) also is said to have sold approximately $400,000 in equities in January. 

"If the allegations are true, they used their access to government to enrich themselves at the expense of the health, safety and economic security of the American people, members of their party should demand they resign," Ives said. 

The U.S. Securities and Exchange Commission (SEC) issued a statement amid the allegations on Monday. 

"Trading in a company’s securities on the basis of inside information may violate the anti-fraud provisions of the federal securities laws," the SEC said. " Those with such access – including, for example, directors, officers, employees, and consultants and other outside professionals – should be mindful of their obligations to keep this information confidential and to comply with the prohibitions on illegal securities trading. 

Ives concluded by highlighting what she would do if elected. 

"I understand how deeply public policy can impact people’s lives, and how important it is to have trustworthy people making that policy," Ives said. "That is why, as a state legislator, I stood up to politicians on both sides of the aisle when they betrayed the people they promised to serve. I will do the same in Congress.” 

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