U.S. Markets

DoJ reviews stock trades by lawmakers after coronavirus briefings: CNN

FILE PHOTO: The U.S. Department of Justice building is bathed in morning light at sunrise in Washington, U.S., February 14, 2020. REUTERS/Mary F. Calvert

(Reuters) - The Justice Department has started to probe a series of stock transactions made by lawmakers ahead of the sharp market downturn triggered by the coronavirus pandemic, CNN reported on Sunday, citing two people familiar with the matter.

The inquiry is still in its early stages and being done in coordination with the U.S. Securities and Exchange Commission, according to the report. (

The Federal Bureau of Investigation has reached out to at least one lawmaker, U.S. Republican Senator Richard Burr, seeking information about the trades, CNN reported, citing one of the sources.

Earlier this month, Burr said he relied solely on news reports to guide decisions on stock sales, amid reports he and other senators sold off shares after being briefed on the risks of the coronavirus crisis.

The U.S. DOJ and a representative for Burr did not immediately respond to Reuters requests for comment.

Reporting by Subrat Patnaik in Bengaluru; Editing by Shounak Dasgupta