Stock-dumping GOP senator’s husband gave $1 million to pro-Trump super PAC after insider trading scandal broke
21 May 2020
The husband of stock-dumping Sen. Kelly Loeffler (R-GA) donated $1 million to the leading pro-Trump super PAC after news broke of her alleged insider trading.
Jeff Sprecher, chairman of the New York Stock Exchange, donated April 29 to America First Action, according to a report filed Wednesday with the Federal Election Commission, after news broke that he and his wife sold off stock holdings ahead of the coronavirus pandemic, reported Politico.
Loeffler, the richest person in the U.S. Senate, sold off millions of dollars in shares ahead of a massive stock market plunge and after she and other senators were briefed by federal officials about the pandemic threat to American lives and the economy.
The senator’s office said last week she turned over documents regarding the transactions to the Justice Department, the Securities and Exchange Commission and the Senate Ethics Committee, and Loeffler has insisted that she doesn’t control her own trading.
Loeffler, who was appointed to finish retiring Sen. Johnny Isakson’s term, is facing a tough GOP primary challenge from Rep. Doug Collins (R-GA).
She has loaned $10 million of her own money to her campaign and pledged more.
Sprecher was not the America First Action’s largest donor last month, because businessman Timothy Mellon donated $10 million to the super PAC.