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Sen. Loeffler’s Stock Liquidation ‘is essentially a guilty plea,’ says Opponent

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Georgia Sen. Kelly Loeffler and her CEO husband will liquidate their individual stock share positions, after more than a month of controversy over purchases and sales of millions of dollars of stocks during the onset of the coronavirus outbreak, but her Senate challenger’s campaign team says it’s nothing short of ‘a guilty plea.’

“She’s less credible than the Chinese government. Same advisors, different funds and no blind trust?  We’re not buying it,” said Dan McGlan, spokesman for Rep. Doug Collins

Loeffler issued her statement Wednesday in an opinion editorial submitted to the Wall Street Journal. Loeffler announced that she and her husband CEO Jeff Sprecher would be liquidating those stocks shortly after her interview with Fox Business host Maria Bartiromo and a day after SaraACarter.com published a story regarding her failure to name the broker of her stock portfolio.

Loeffler, however, continued to defend her stock sales and said that “I have never used any confidential information I received while performing my Senate duties as a means of making a private profit.” She posted her opinion piece on Twitter with a statement saying “my husband and I are liquidating our holdings in managed accounts.”

“I’m not doing this because I have to. I’m doing it to move beyond the distraction and put the focus back on the essential work we must all do to defeat the coronavirus,” she added.

Her spokesperson told this reporter in a story published Tuesday that “allegations of improper trading are based purely on cherry-picking dates and misrepresenting transactions contained in Senator Loeffler’s Periodic Transaction Reports (PTRs), rather than any actions that Sen. Loeffler took. For years, her stock portfolio has been managed independently by third-party advisors who plan the investment strategy and implement trades.”

However, Dan McLagan, spokesman for Rep. Doug Collins, who is challenging Loeffler for her Senate seat, said on Wednesday that her refusal to name her broker calls into question the stocks traded during the pandemic.

“This is essentially a guilty plea and Georgians who just saw their retirement plans crater while she profited are not going to agree to the plea deal,” said McLagan. “She’s less credible than the Chinese government. Same advisors, different funds and no blind trust?  We’re not buying it. “

Collins has not yet issued a direct statement on Loeffler’s decision to liquidate the stocks but had said earlier that he was “sickened” by the trades and purchases during a time when so many people had lost their jobs and lives.

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BLM co-founder used funds to pay sister, mother, brother and child’s father

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Released tax filings show just how Black Lives Matter co-founder Patrisse Cullors spent the millions of dollars raised from “White guilt.” She paid roughly $970,000 to the company of her child’s father to help “produce live events” and other “creative services.”

Over $840,000 was paid to her brother, Paul Cullors, for security services. Daily Mail wrote that “leaders have attempted to justify” the expenses to her brother by saying the “foundation’s protection could not be entrusted to former police professionals who typically run security firms because the BLM movement is known for vehemently protesting law enforcement organizations.”

It was recently disclosed that she bought a $6 million mansion in L.A. for the organization, and denied she took money from BLM for personal matters, although shortly after it was unearthed that she had used the mansion for her own parties.

Cullors also reportedly “reimbursed BLM $73,523 for a charter flight for foundation-related travel, which the organization says she took in 2021 out of concern for COVID-19 and security threats.”

Cullors resigned last year from the organization due to criticism of her finances, such as purchasing multiple homes for herself that cost millions of dollars combined. She also admitted the charity was paying for “employment” of her sister, mother, and brother.

Black Lives Matter Global Network Foundation Inc revealed from July 1, 2020 to June 30, 2021, it ended the fiscal year with nearly $42 million in net assets. “The foundation invested $32 million in stocks from the $90 million it received as donations amid racial justice protests in 2020” adds Daily Mail.

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