Another Trump Appointee cashing in
I am sure we are all shocked by this.
Senate Intel chair’s brother-in-law also dumped stock the day before market crash
Before the coronavirus outbreak upended the markets, a Trump appointee sold shares worth between $97,000 and $280,000, according to a financial disclosure document first published by ProPublica.
The mid-February sell-off by Gerald Fauth came on the same day that his brother-in-law, Sen. Richard Burr (R-N.C.), , who is the chairman of the Senate Intelligence Committee, sold a significant percentage of his stocks — between $628,000 and $1.72 million, ProPublica previously reported. The Justice Department is investigating the trade, a person familiar with the matter told The Washington Post.
Fauth sold shares in six companies, including oil companies BP, Chevron Corp. and Royal Dutch Shell, which have been hit particularly hard by the pandemic. Fauth was appointed by Trump to be a member of the three-person National Mediation Board, a federal agency that facilitates labor-management relations within the nation’s railroad and airline industries, in 2017. He was previously a lobbyist and ran his own transportation economic consulting firm, G.W. Fauth & Associates.
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