WASHINGTON (AP) — Republican Sen. Kelly Loeffler of Georgia said Wednesday that she will liquidate her stock portfolio and move the money to investment funds after coming under scrutiny for transactions she and her husband made just before the coronavirus sent markets reeling.
Loeffler and her husband dumped substantial portions of their portfolio and purchased new stocks, including as much as $415,000 in DuPont de Nemours, a chemical company that manufactures protective equipment in exceedingly high demand because of the coronavirus pandemic. Loeffler’s husband, Jeffrey Sprecher, is chairman of the New York Stock Exchange.
The sales and purchases came as Congress was receiving briefings on the seriousness of the then-burgeoning epidemic. Loeffler has said that she had no involvement in the trades and that they were managed by third-party advisers.