I wonder if we will ever hear what becomes of this situation, somehow, for some reason, I doubt it. The FBI will just bury it, or use it as leverage later, when it best suits their needs … Here we are, still waiting, nearly 4 month later.
Opinion| The FBI has asked Sen Dianne Feinstein to turn over documents on stock trades her husband made just before the crash. Her husband, Richard Blum is no stranger to scrutiny.
When his wife was the chairperson on the Senate MILCON (Military construction) committee, he bought stock in two companies that had never had any government contracts before.
Suddenly, they started receiving no-bid contracts from the committee and their stock soared. They were receiving billion-dollar contracts that were approved by Feinstein.
When the scandal broke, Feinstein stepped down from the committee, and Blum sold his interest in the companies for a cool profit of millions of dollars according to reports. Not too shabby, huh?
Then there was the contract from the government whereby he would sell off obsolete post office buildings at a rate higher than the normal rate.
Now, it’s about possible stock dumping due to inside information. So far it is just a routine check, although Blum sold a large amount of stock before the crash.
Democratic California Sen. Dianne Feinstein was questioned by the FBI over stock market transactions made by her husband earlier this year, shortly after senators were briefed on the severity of the coronavirus.
A spokesperson for Feinstein told The New York Times Thursday that the FBI asked her “basic questions” last month about stock sales made by her husband, and added that the senator provided requested documents to federal law enforcement that showed she had no involvement in her husband’s financial transactions.
The 86-year-old California senator sold at least $1.5 million in stocks following a late January briefing on the coronavirus, but has denied any wrongdoing, and has said that all of her assets are in a blind trust.
Financial transactions made by Republican Sens. Richard Burr of North Carolina, Kelly Loeffler of Georgia, and Jim Inhofe of Oklahoma shortly after the briefing have also come under scrutiny. Burr’s case has attracted the most attention after it was revealed he sold between $628,000 and $1.72 million worth of stock from his portfolio just weeks after the briefing. By Steven Ahle