The recent sale included three separate transactions amounting to a whopping 18.7 million in Intercontinental Exchange stock, according to the report. Notably, her husband, Jeff Sprecher is the CEO of Intercontinental Exchange, Inc. (ICE) and Chairman of the New York Stock Exchange.
Additionally, the filings revealed that the Senator sold stocks she had in two major retailers, Lululemon and T.J. Maxx, and invested in COVID-19 protective gear.
The news of the recent transactions comes as the lawmaker faces scrutiny for alleged insider trading that occurred in the first few weeks of 2020. The earlier financial decisions were made after Loeffler received a private briefing just before the coronavirus shut down the American economy. However, Loeffler, who is a former investment professional, has denied those claims saying she didn’t have knowledge of the sale.
“Senator Loeffler filed another Periodic Transaction Report (PTR) and the facts are still the same. These transactions are consistent with historical portfolio activity and include a balanced mix of buys and sells. Her stock portfolio is managed independently by third-party advisors and she is notified, as indicated on the report, after transactions occur,” a Spokesperson for Sen. Loeffler told SaraACarter.com on Wednesday.
The comment continued, “Sen. Loeffler continues to operate with integrity and transparency – following both the spirit and the letter of the law. While some will continue to make baseless accusations devoid of facts, Senator Loeffler will continue working to keep Americans safe and provide much-needed relief to Georgia families and businesses impacted by COVID-19.”
Sens. Dianne Feinstein, D-CA, Richard Burr, R-NC, James Inhofe, R-OK face similar fire for making stock sales after receiving the same briefing. Earlier this week, Burr’s lawyers said he would be willing to participate in an “inquiry” into the stock sales as the Justice Department prepares for an investigation, according to reports.
BREAKING: Trump ordered to pay over $350M, barred from operating his business in NY in civil fraud case ruling
Former President Donald Trump and his business empire faced a significant setback as a New York judge ruled against them in a civil fraud case brought by New York Attorney General Letitia James. The 92-page ruling, handed down by Judge Arthur Engoron, barred Trump from operating his business in New York for three years and imposed over $350 million in damages.
The case, which unfolded over months of trial proceedings, stemmed from allegations that Trump inflated his assets and engaged in fraudulent practices. Engoron’s ruling cited a litany of charges, including persistent fraud, falsifying records, issuing false financial statements, and conspiracy to commit fraud.
Moreover, the judge imposed restrictions on key figures within the Trump Organization, including Donald Trump Jr. and Eric Trump, barring them from serving in certain corporate roles in New York for a specified period.
Engoron’s scathing assessment of Trump’s testimony during the trial further undermined the former president’s credibility. The judge criticized Trump for evasive responses and irrelevant digressions, highlighting the detrimental effect on his credibility.
In response to the ruling, Trump’s attorney, Christopher Kise, lambasted the court’s decision, alleging political bias and a disregard for established legal principles. Kise argued that the evidence presented during the trial failed to support the allegations of fraud and emphasized Trump’s substantial net worth.
Kise’s assertions were echoed by Alina Habba, another attorney representing Trump, who denounced the verdict as a “manifest injustice” resulting from a politically motivated witch hunt.
Throughout the proceedings, Trump consistently dismissed the trial as politically motivated, accusing both Engoron and James of partisan bias. His legal team also criticized the absence of a jury in the trial, questioning the fairness of the proceedings.
Attorney General Letitia James, who spearheaded the lawsuit against Trump and his organization, portrayed the ruling as a victory for accountability and transparency in business practices. The lawsuit alleged fraudulent conduct and sought substantial financial penalties, a portion of which would contribute to the state treasury.
The fallout from the case extends beyond Trump and his business interests, with implications for the broader business community and the rule of law. The contentious nature of the trial and its outcome underscored deep divisions and raised questions about the integrity of the legal system.
Trump vows to appeal the decision.
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