Before the coronavirus does not take amplitude phenomenal and will impact deeply the global economy, Kelly Loeffler, member of american, took the lead by selling millions of shares on the stock market.
An anticipation of the stock market crash
If the u.s. authorities were taking lightly the consequences of the coronavirus, Kelly Loeffler, the deputy of the Republic of Georgia, anticipates the possible changes of the situation and has removed millions of shares in his possession.
Holding previously the title of CEO in Bakkt, Kelly Loeffler, has already made 22 sales of financial securities this year alone. The first sale was of the shares of the company Resido Technology and had allowed the business woman to collect more than 50 000 euros. Since then, the share price of Resido Technology collapsed up to half of its value.
In recent weeks, the former CEO of Bakkt has also sold the shares of Comcast Corporation, Keysight, Ross Store and other u.s. companies that are experiencing difficulties due to the coronavirus. All in all, Kelly Loeffler would have elapsed between 1 275 000 and 3 100 000 dollars of financial assets on the market.
This is a ridiculous and baseless attack. I do not make investment decisions for my portfolio. Investment decisions are made by multiple third-party advisors without my gold my husband’s knowledge gold involvement.
— Senator Kelly Loeffler (@SenatorLoeffler) March 20, 2020
Stroke of luck or insider trading?
It is interesting to note that Kelly Loeffler began to liquidate their securities after meeting in closed session held by the government concerning the coronavirus. Following the actions of the suspects of Kelly Loeffler, the association Citizens for Responsibility and Ethics in Washington, accused the senator of having committed insider trading.
“We don’t know if these senators have sold their shares just before the market collapse on the basis of non-public information or if they have sold for other reasons,” wrote the association in a press release.
However, Kelly Loeffler defends himself she never abused her office to collect information that is classified as private to serve his personal interests.
“It is an attack is ridiculous and unfounded. I do not take investment decisions for my portfolio. The investment decisions are made by several third party consultants without my knowledge and without my husband or myself to let us be involved, ” she defended on her Twitter account.
However, Kelly Loeffler is not the only one to awaken the suspicions of the financial authorities. Senator Richar Burr is also accused of insider trading after he sold nearly 1.5 million dollars of shares last month.
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