Sen. Richard Burr stepped apart as chairman of the Senate intelligence committee on Thursday after the FBI served a search warrant for his cellphone as a part of an ongoing insider-trading investigation tied to the coronavirus pandemic.
Senate Majority Chief Mitch McConnell introduced the transfer, saying he and Burr had agreed it was within the Senate’s greatest pursuits.
FBI officers confirmed up at Burr’s residence with the warrant on Wednesday, marking a big escalation into the Justice Division’s investigation into whether or not Burr broke the legislation with a well-timed sale of shares earlier than the coronavirus brought on markets to plummet,
The Justice Division declined to remark. His lawyer didn’t reply to cellphone and e-mail messages, however mentioned final month that the legislation is evident that any senator can take part in inventory market buying and selling primarily based on public info “as Sen. Burr did.”
Burr is a Republican who represents North Carolina.