Senator Richard Burr Turns Over Phone for Investigation and Steps Aside as Chairman of the Senate Intelligence Committee

On Thursday, chairman of Senate Intelligence Committee Sen. Richard Burr, R-N.C stepped aside as chairman after the FBI seized his cellphone as investigations of possible insider trading are ongoing.

The controversy began after a nonprofit news organization, ProPublica, reported that Burr unloaded the stock around mid-February, just a week before the market began to plunge due to rising coronavirus crisis concerns. Burr sold off up to $15,000 worth of shares in Wyndham Hotels and Resorts, and another $100,000 worth of shares in Extended Stay America.

According to The New York Times, three other senators sold major holdings at the same period of time: Feinstein, Kelly Loeffler, R-Ga., and James Inhofe, R-Okla.

Sen. Dianne Feinstein, D-Calif. Was also questioned in relation to stock sales linked to coronavirus. She was questioned about stocks trades her husband had made in recent times and asked to provide the FBI with necessary documents.

Senate Majority Leader Mitch McConnell said the Burr’s step aside would take effect by the end of Friday and would last all through the investigation. Members of the powerful Intelligence Committee have acknowledged the importance of pressuring the chairman to step aside for further investigation as the work of the committee is “too important to risk hindering in any way,” according to a senior law enforcement official.

Burr’s lawyer, Alice Fisher said in a statement on Thursday that the senator has “made the decision to step aside as Chairman of the Senate Intelligence Committee until this investigation is resolved, and to allow the Committee to continue its essential work free of external distractions.” Burr had also previously said that he would not seek re-election for his seat in 2022 after he was re-elected in 2016.

The statement also carried that Sen. Burr “has been focused on an appropriate and thorough review of the facts in this matter, which will establish that his actions were appropriate,”

The news of the FBI retrieving Burr’s phone was first reported on Wednesday night by The Los Angeles Times. It was also confirmed by a senior Department of Justice official that the issued search warrant for Burr’s cellphone was served on his attorney. Although, action to obtain the phone was done by FBI agents at Burr’s resident, clearly stating that it was not a “raid.”

In addition, the search warrant was approved by the highest official of the Justice Department, Attorney General William Barr.

In March, there were calls for Burr, the chairman of the Senate Intelligence Committee to resign after reports of insider trading came in. The reports stated that Burr had allegedly privately warned major donors of the dire impact of the coronavirus pandemic in February, and sold off up to $1.6 million of his own stocks.

In his defense, Burr said that he relied on public news reports like everyone else, without any influence from his role as the Senate Intelligence Committee chairman. He also appealed to the chairman of the Senate Ethics Committee to “open a complete review of the matter with full transparency.”