Gaetz Slams Thom Tillis for ‘Low-Energy’ Response to Insider Trading Allegation against Fellow N.C. Senator

Representative Matt Gaetz (R., Fla.) slammed Senator Thom Tillis (R., N.C.) for “a low-energy establishment Senate response” to news that his state’s senior Senator Richard Burr (R., N.C.) quietly sold large portions of stock ahead of the coronavirus market crash following a private January briefing on the impending coronavirus pandemic.

“‘Self-referral’ to ‘Senate Ethics’ is the safe space where Senators can judge their own w/o real culpability. You, Senator Tillis, referring Burr to the DOJ for prosecution would evidence a sincere concern for North Carolinians,” Gaetz tweeted at Tillis, who is up for reelection in 2020. He then directed more fire at Burr.

In a statement, Tillis said “Burr owes North Carolinians an explanation” for allegations that Senate Intelligence Committee chairman potentially violated the STOCK Act — which prohibits congressional trading on non-public information — according to records of his transactions.

Spokesmen for Gaetz and Tillis did not respond to requests for comment.

Burr said in a statement Friday that he was referring himself to the Senate Ethics Committee for an investigation, but maintained his innocence, saying he “relied solely on public news reports to guide my decision regarding the sale of stocks on February 13.”

Burr’s records show that he sold 33 different stocks —potentially a large share of his total holdings —that were collectively worth $628,000 to $1.7 million, including as much as $150,000 worth of stock in two hotel chains, Wyndham Hotels and Resorts and Extended Stay America, which subsequently tanked following the recent market slide.

Despite his sale, Burr wrote an op-ed for Fox News days later stating that the United States was “better prepared than ever before” to deal with coronavirus. Two weeks later, he reportedly told a small gathering that coronavirus presents a serious problem — “probably more akin to the 1918 pandemic” — according to a recording obtained by NPR. Burr denounced the story Thursday night, tweeting that it was “a tabloid-style hit piece.”

Gaetz, an outspoken Trump ally, tweeted earlier Friday to criticize Burr for his role in subpoenaing Donald Trump Jr. to question his role in a June 2016 Trump Tower meeting between Trump campaign officials and Russian lawyer Natalia Veselnitskaya.

“Worth noting that Chairman Burr was swampily complicit in dragging an innocent @DonaldJTrumpJr before Senate Intel time & time again. The nerve,” Gaetz tweeted, before later adding that “with all of the money Chairman Burr saved in the #SenateSelloff, maybe he can reimburse the legal bills innocent people incurred during the phony Senate Russia investigation he led?”

Speaking on the matter during a press briefing Friday, President Trump that he was “not aware” of any wrongdoing, and added that he thought Burr and the other senators involved in recent stock selloffs are “very honorable people.”