A federal judge has ordered Sen. Richard Burr's brother-in-law to answer questions from the Securities and Exchange Commission, allowing the regulator to advance its investigation into their stock sales
Judge Andrew Carter said Gerald Fauth, Burr's brother-in-law, would have to testify, but he agreed to some accommodations to mitigate Fauth's undefined medical condition.Fauth had tried to avoid testifying in person, saying a serious medical condition should prevent him from enduring the stress of being questioned under oath. Burr, a North Carolina Republican who held positions on committees overseeing health policy and US intelligence, sold $1.
The SEC has said it needs Fauth's testimony as part of its investigation into whether Fauth and Burr's February 2020 stock trades were made while they were in possession of inside information. The SEC says Burr possessed"material nonpublic information concerning Covid-19 and its potential impact on the U.S. and global economies."Fauth had asked the judge to permit him to answer in written form.
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