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Dianne Feinstein admits the feds have been questioning her, too, in probe of possible insider trading, after FBI serves warrant against Sen. Burr

How 'blind' is that so-called blind trust?

Photo by Mario Tama/Getty Images

A day after the Federal Bureau of Investigation served a warrant against Senate Intelligence Chairman Richard Burr (R-N.C.) and seized his phone as part of an ongoing investigation into questionable stock trades during the coronavirus crisis, Democratic California Sen. Dianne Feinstein's office revealed the FBI had questioned her about stock sales, too.

Feinstein and Burr, as well as GOP Sens. Jim Inhofe (Okla.) and Kelly Loeffler (Ga.), have been under scrutiny for alleged insider trading for months. The senators reportedly sold millions of dollars with of stock between late January and mid-February, following a closed-door Senate briefing about the coming economic impact of the coronavirus.

Senate records show that Feinstein sold between $500,000 and $1 million worth of stock in Allogene Theraputics on Jan. 31, and her husband sold between $1 million to $5 million worth of Allogene shares on Feb. 18, the New York Post reported.

Feinstein's office said that the senator had nothing to do with the trades because her assets are in a blind trust and have been since 1992, according to NBC News.

The office also said that the "transactions" in question "were made by her spouse."

In a write-up on the insider trading investigation, HotAir's Ed Morrissey asked Thursday, "If her spouse is managing the portfolio, how 'blind' can it be?"

Feinstein's spokesman, Tom Mentzer, said, "Senator Feinstein was asked some basic questions by law enforcement about her husband's stock transactions," the Post said.

He added, "She was happy to voluntarily answer those questions to set the record straight and provided additional documents to show she had no involvement in her husband's transactions."

But as Morrissey noted, having a blind trust run by her spouse might no be enough to keep her out of hot water.

"Former Rep. Christopher Collins pled guilty to an insider-trading scheme in which he passed along inside information to family members and friends. A blind trust managed by one's spouse doesn't exactly provide a solid alibi," Morrissey said.

New York Rep. Collins is serving a 26-month prison sentence after pleading guilty to providing an illegal stock tip to his son about a failed drug trial for an Australian biotech company where the congressman had served as a board member.

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