Former Senator Richard Burr says he has been cleared in federal investigation

RALEIGH, N.C. (WITN) - According to statements released by former Senator Richard Burr and his lawyer, the Securities and Exchange Commission has concluded its investigation into whether Burr violated federal insider trading laws by selling more than $1.6 million in stocks before the market crashed during the early stages of the Covid pandemic.

In court filings, the SEC had said that it was probing Burr’s decision to liquidate almost all of his stock holdings in February of 2020, after receiving classified briefings about the coronavirus pandemic.

On Friday, Burr released a statement saying “the SEC informed me that they have concluded their investigation with no action.”

His lawyer, Alice Fisher, also released a statement saying “Senator Burr is pleased that the US Securities and Exchange Commission, as did the US Department of Justice, conducted a thorough review and closed their investigation with no action. We have believed all along that this is the right result.”

Burr served as a United States senator from North Carolina from 2005 to 2022.

The Republican was also previously a member of the United States House of Representatives.