“A House Democratic lawmaker is requesting a federal investigation into Sen. David Perdue’s (R-GA) purchase and sale of stock in a U.S. Navy contractor while he was chairman of a Senate subcommittee with jurisdiction over Navy spending, first reported by The Daily Beast last week. On Tuesday, Rep. Raja Krishnamoorthi (D-IL), the chairman of the House Oversight Committee’s subpanel on economic policy, sent a letter to Jay Clayton, chairman of the federal Securities and Exchange Commission, requesting he probe Perdue’s investment in BWX Technologies for any evidence of wrongdoing.”
“In December 2018, a month before he was announced as the chairman of the Senate Armed Services Subcommittee on Seapower, Perdue began purchasing thousands of dollars worth of shares in BWX, which makes nuclear reactors and other parts for submarines. As his committee worked to pass the annual defense spending bill in 2019—which set aside $4.7 billion for a new submarine that the company specialized in—Perdue sold off his shares in BWX at a profit, with sales totaling as much as $385,000, according to his official financial disclosures” – Daily Beast.