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Senator Burr’s Brother-In-Law Ordered to Testify About Covid Stock Trades

Senator Burr’s Brother-In-Law Ordered to Testify About Covid Stock Trades

U.S. Senator Richard Burr’s brother-in-law was ordered by a federal judge to testify in a Securities and Exchange Commission investigation into stock sales by the two men just before the onset of the coronavirus pandemic. 

Gerald Fauth, the brother-in-law, spoke to North Carolina Republican Burr on the day of the stock sales, according to an SEC court filing, with Fauth selling shares minutes after their call ended. The SEC is investigating whether the sales were informed by classified briefings about the virus that Burr received as then-chair of the Senate intelligence committee.

Fauth, who was appointed to the National Mediation Board by former President Donald Trump, had avoided responding to the subpoena from investigators for more than a year, claiming health issues that could put him at risk from high-stress questioning. The SEC sought a judicial order last month forcing him to comply. 

To alleviate concerns about Fauth’s health, the SEC agreed to limit the questioning to a single session of two-and-a-half hours, and said it had “no intention of conducting the questioning in an adversarial manner.”     

Burr has said his trades were not related to the information he received, and Fauth has said his sales had already been planned. 

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