Mitch McConnell Aide Implicated In Coronavirus-Stock Dumping Scandal: Report
A senior aide to Senate Majority Leader Mitch McConnell (R-KY) has now been implicated in the growing scandal of lawmakers who dumped a massive amount of stocks just as the government was becoming aware of the growing threat of the coronavirus pandemic.
“Scott Sloofman, a top communications aide in Senate Majority Leader Mitch McConnell’s office, purchased stock in a company that could wind up being instrumental in the fight against the coronavirus in late January: Moderna, Inc., which is now testing the first vaccine for the disease in Washington state,” Politico reported Saturday morning.
The report goes on to note that Slookman’s purchase “listed as between $1,001 and $15,000,” was made “on Jan. 28, one week after Moderna, Inc. announced it was collaborating with the federal government to develop the vaccine. The company’s stock rose in the days since, at some points more than 20 percent.’
Politico notes that Sloofman is not alone in falling under scrutiny.
“Previously unreported lawmakers who sold assets in the weeks leading up to the market crash include Rep. Susan Davis (D-Calif.), who unloaded thousands of dollars of stock in Alaska Air and Royal Caribbean cruises,” the report states. “Rep. Rob Wittman (R-Va.) purchased between $1,001 and $15,000 of stock in the pharmaceutical company AbbVie Inc., on Feb. 27, the day the company released a statement saying it had donated one of its antiviral drugs to China as an experimental option for treating the coronavirus and that it was exploring a research collaboration on potential treatment options.”
Additionally, “On Jan. 29, the day he and others were briefed on the coronavirus, Rep. Scott Peters (D-Calif.) sold between $500,001 and $1 million in Butte-Glenn municipal bonds. He and his wife moved over $2 million from local government bonds to U.S. Treasury notes, considered a port in the storm amid market turbulence, between Jan. 27 and Jan. 29.”
Those lawmakers join Sens. Richard Burr (R-NC), Sen. Ron Johnson (R-WI) and Kelly Loeffler (R-GA) on the growing list of government officials who are facing scrutiny.
You can read more on the scandal here: