NEW: David Perdue Personally Instructed Wealth Manager To Sell Stocks, Despite Previous Claims That Trades Were Handled “Independently”

November 25, 2020

Perdue has been under fire for several stock trading scandals throughout his Senate term

ATLANTA — A new report by the New York Times revealed Senator David Perdue “contacted his wealth manager at Goldman Sachs” and “instructed him to sell a little more than $1 million worth” of stocks, yet Perdue has consistently insisted his stock trades were “handled by advisers who operated independently and without [his] input.” Despite several false denials of wrong-doing and claims to have no input on his stock trades, the bombshell report adds that Perdue retained “discretion over which trades were made and when.”

The new reporting resurfaces questions about Perdue’s previous “unusual” stock trades and what role Perdue personally played in the buying and selling of stocks throughout his portfolio. Experts have repeatedly slammed Perdue’s “perfectly timed” stock acquisitions, saying Perdue’s pattern of stock purchases “stinks to high heaven.”

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. 

And recently, it was revealed that right before Perdue became chairman of a subcommittee with jurisdiction over the U.S. Navy, Perdue began “buying up stock in a company that made submarine parts.” Then, he helped shape legislation that directed Navy funding for one of the company’s products and sold off the stock, earning him “tens of thousands of dollars in profits.”

“Senator Perdue has repeatedly insisted he has no control over his stock trades, but now that we’ve seen he clearly has direct input in his stock acquisitions, Georgians have no reason to trust him,” said Braxton Brewington, spokesman for the Democratic Party of Georgia. “Perdue’s attempts to lie and cover up his corrupt trades and crooked self-dealing won’t fool Georgians.”


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