Skip to content

Bakkt’s former CEO delivers documents to the Justice Department amid insider controversy

May 17, 2020

Former CEO of Bakkt and Intercontinental, the parent company of the New York Stock Exchange, the United States Senator Kelly Loeffler, has submitted documents about its business to the U.S. Department of Justice, the Securities and Exchange Commission (SEC), and the Senate Ethics Committee.

Loeffler tries to suffocate that Widespread allegations of insider tradingAfter the person responsible for managing the Loeffler portfolio and his partner sold millions in small shares after attending a Senate hearing on the coronavirus in January.

Loeffler explained this in a statement published on May 14 The documents prove that both she and her husband, Jeffrey Sprecher, president of the New York Stock Exchange, “acted reasonably and they observed both the letter and the spirit of the law. “

Senator Loeffler dispenses with trade documents

Bakkt’s former CEO delivers documents to the Justice Department amid insider controversy
Bakkt’s former CEO delivers documents to the Justice Department amid insider controversy

Because they work with the Intercontinental Exchange and the New York Stock Exchange, Decisions regarding the Loeffler and Spokesperson portfolios were allegedly made by “several contract consultants”. without the contribution of either.

“The documents and information showed that she and her husband were not involved in their managed accounts, as well as the details of those accounts,” said Loeffler’s statement.

The allegations stem from 27 share sales that were carried out in February on behalf of Loeffler and Spokesperson., a time in which Loeffler constantly expressed his trust in the US economy, despite the huge sales as the coronavirus pandemic worsened.

The couple also made several six-figure investments in Citrix., a company that sells technology solutions for distributed workplaces.

The FBI is investigating Richard Burr for illicit trade

The measure follows reports in which a FBI-led investigation by Republican Senator Richard Burr into stock trades he conducted after the same hearing. Senator Burr has given his phone to investigators and a search warrant has been issued for his home.

Loeffler has repeatedly refused to answer questions. whether the FBI contacted her about her husband’s business.

The FBI has also contacted Democratic Senator Dianne Feinstein. in connection with the stock transactions carried out by her husband.

Do not stop reading: