U.S. Sen. Kelly Loeffler of Georgia and her husband are liquidating their managed stock portfolio after accusations that she, and other politicians, profited off inside information about the economic effects of the coronavirus pandemic.
Loeffler and her husband Jeffrey Sprecher, who is CEO of Intercontinental Exchange and chairman of the New York Stock Exchange, will transfer their assets into exchange-traded funds and mutual funds by the end of the week.
“Let me be clear: I do not have to do this,” Loeffler said in a statement.
She maintains she has no involvement in her stock transactions because they are managed by outside advisers and has broken no laws or ethics rules.
“I’m doing this because this transparency is being abused for political gain, and the steps I’ve taken to distance myself from these accounts are being ignored,” she said.
