Rand Paul reveals his wife bought shares in the company behind remdesivir in late financial disclosure

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Remdesivir later became the first drug to be approved for the treatment of Covid-19. Paul’s Senate record shows that between $ 1,000 and $ 15,000 in Gilead shares were purchased.

The STOCK law – which was enacted in 2012 to prohibit congressional insider trading or the use of non-public information for financial gain – requires disclosure of transactions within 45 days. Paul’s report arrived 16 months late.

The financial disclosure was over a year overdue because the initial deposit had not been transmitted properly, according to Paul spokesperson Kelsey Cooper, who also noted that Paul’s wife Kelley had lost money. money on investment.

“Last year, Dr. Paul completed the declaration form for an investment made by his wife using her own income, an investment she lost money on. This was done within the time window of proper statement, “Cooper said in a statement.

“In the process of preparing to file his annual financial return for last year, he learned that the form had not been forwarded and promptly alerted the filing office and asked for advice. In accordance with these guidelines. , he tabled both reports today. “

News of the financial disclosure delay prompted a swift reaction from government ethics experts and lawyers on Wednesday.

“The senator should have an explanation of the exchange and, more importantly, why it took him almost a year and a half to find out from his wife,” said James Cox, professor of law at the University. Duke, to the Washington Post, who first reported the disclosure.
The coronavirus pandemic put emphasis on stock market activity in Congress when a number of lawmakers were criticized for removing stocks from their portfolios ahead of the massive stock market liquidation that followed the escalation of the pandemic .
The Justice Department investigated several members of Congress for insider trading, but has since closed those investigations.
Paul, who was the first US senator to test positive for Covid-19, has repeatedly rebuked public health guidelines and publicly challenged Dr Anthony Fauci, the country’s leading infectious disease expert, on several occasions.

Earlier this week, Paul was suspended from YouTube for seven days for a video claiming the masks are ineffective in combating Covid-19, according to a company spokesperson.

CNN’s Anneken Tappe and Scott Bronstein contributed to this report.

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