Senators Loeffler, Inhofe, Feinstein Exonerated by Justice Department Over Claims of Insider Trading

Posted: May 26, 2020 6:00 PM
Senators Loeffler, Inhofe, Feinstein Exonerated by Justice Department Over Claims of Insider Trading

Source: AP Photo/J. Scott Applewhite

The Department of Justice (DOJ) announced on Tuesday that the investigation into GOP Sens. Kelly Loeffler (GA) and Jim Inhofe (OK), as well as Democratic Sen. Dianne Feinstein (CA), is closed. The group of bipartisan senators were accused of insider trading, and the investigation grew into a national spectacle. Sen. Richard Burr (R-NC), who is also under investigation, has not yet been exonerated by DOJ. 

This vindication is especially significant for Sen. Loeffler, who has been lambasted by Democrats and Republicans alike who concluded, before the investigation was finished, that Sen. Loeffler abused her senatorial privilege and was guilty of insider trading after a January coronavirus briefing. Sen. Loeffler bore the brunt of the attacks on the group of senators.

In the midst of the controversy, Sen. Loeffler elected to liquidate her family’s stock portfolio in order to put criticism to rest and allow her to focus on legislation, despite committing no illegal actions. This move was not enough for Congressman Doug Collins, though, who is challenging Sen. Loeffler in Georgia’s jungle primary in November; he insinuated Sen. Loeffler’s guilt before the case was closed:

Insider trading is a crime of serious stature that has no place in our largest legislative body, and, indeed, should be investigated as such. Jumping to false conclusions before thorough investigations have wrapped up is partisan rancor that is below the dignity of any lawmaker.

After the DOJ's conclusion, the Georgia Republican blasted the claims, which her opponents ran with without a full conclusion, as politically motivated:

"This was a politically motivated attack promoted by the fake news media and my political opponents. I'm continuing to focus my full attention on results for Georgia," Sen. Loeffler wrote on Twitter.

The fate of Sen. Burr remains to be seen.