While on Senate Banking Committee, Perdue unloaded as much as $1,245,000 in banking shares and bought as much as $1,080,000
Perdue received tens of thousands of dollars in campaign contributions from financial institutions on the same day he introduced legislation
Justice Department’s investigation reveals how Perdue’s claim that outside advisers made all the calls on his stock trades without his input “was a lie”
ATLANTA — A new investigation has uncovered that Senator David Perdue traded at least hundreds of thousands of dollars worth of bank stocks while passing pro-bank legislation on the Senate Banking Committee. While Perdue was “throw[ing] softballs to big banks,” he received over $1 million in donations from financial industry interests, and in some instances, received financial contributions the exact day he introduced legislation that benefited his banking friends.
The investigation comes after a bombshell New York Times report made clear that Perdue’s claim that outside advisers made the calls on his stock trades without his input was a blatant lie. In fact, Justice Department investigators found that Perdue personally instructed one of his brokers to offload more than $1 million worth of Cardlytics stock just two days after receiving a personal email from the company’s CEO.
Experts have repeatedly slammed Perdue’s “perfectly timed” stock acquisitions, saying Perdue’s pattern of stock purchases “stinks to high heaven.” Earlier this year, Perdue bought thousands of dollars worth of stock in a PPE supplier on the same day the Senate received a private briefing on the coronavirus pandemic.
“Senator Perdue has repeatedly shown that lining his pockets is his top priority in Washington, not working for Georgia workers, families and small businesses,” said Braxton Brewington, spokesman for the Democratic Party of Georgia. “Voters will not be reelecting someone who puts his stock portfolio first and Georgians last.”