Sen. Richard Burr, R-N.C., and his brother-in-law dumped a large amount of stock on the same day in February before the coronavirus crisis sparked a global stock market dive, ProPublica reported.
National Mediation Board member Gerald Fauth — the brother of Burr's wife — sold as much as $280,000 in shares Feb. 13, about a week before the virus triggered the market crash, ProPublica reported, citing a financial disclosure form Fauth filed in March.
The timing of the sales helped Fauth avoid up to $118,000 in losses, according to ProPublica.
The dump also coincided with the same day Burr sold up to $1.7 million of his stock portfolio as he received daily briefings on the coronavirus, the news outlet reported.
Those Burr trades have led to a Justice Department probe, a lawsuit, and calls for his resignation.
Neither the National Mediation Board nor Burr's office have offered comment about the report,
Burr's lawyer told ProPublica he "participated in the sock market based on public information and he did not coordinate his decision to trade on Feb. 13 with Mr. Fauth."
President Donald Trump appointed Fauth in 2017 to the National Mediation Board, which handles labor issues in the railroad and airline industries.
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