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Angel McCoughtry lends support to Dream's Sen. Kelly Loeffler amid insider trading allegations

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Angel McCoughtry, a 10-year veteran of the Atlanta Dream, issued a strong statement of support for Dream co-owner Kelly Loeffler, a U.S. senator who is under public scrutiny for alleged insider trading during the early stages of the coronavirus pandemic.

McCoughtry gives support to Loeffler

McCoughtry, who signed with the Las Vegas Aces in free agency, said in a statement on Twitter that she remembers the “million” things Loeffler has “done right” and won’t get caught up in what’s going wrong.

McCoughtry, the No. 1 pick in the 2009 draft, wrote:

“I love Kelly Loeffler. She has done nothing but give give give!! She has helped us women continue to maintain a job even when she has made nothing in return. Kelly has always had my back when I needed her, And she would have yours too. I will never judge a person on their political views. That’s what makes the world unique. We get so caught up on what’s going wrong. I remember the million things Kelly has done right.”

McCoughtry, 33, is a seven-time defensive all-star and led the league in scoring in the 2012 and 2013 seasons. She missed all of last season while rehabbing an ACL injury.

‘Political views’ vs. alleged crime

Atlanta's Angel McCoughtry (35) brings the ball up the court during the WNBA game between Atlanta and Seattle on July 22, 2018 at Hank McCamish Pavilion in Atlanta, GA. The Atlanta Dream defeated the Seattle Storm by a score of 87  74.  (Photo by Rich von Biberstein/Icon Sportswire via Getty Images)
Angel McCoughtry threw her support in Dream co-owner Kelly Loeffler's corner amid insider trading allegations. (Rich von Biberstein/Icon Sportswire via Getty Images)

While questions have been raised about Loeffler’s political views and how it fits with the WNBA culture, the issue at hand has nothing to do with political views. It is strictly about the potential of illegal behavior and the public perception of senators being able to buy and sell stock. Some have also reminded McCoughtry that Loeffler was not elected by the constituents, but rather appointed by Georgia Gov. Brian Kemp.

Fellow senators have allegedly conducted insider trading at the same time as Loeffler. CNN reported that Sen. Richard Burr was questioned by the Justice Department this week about it. Loeffler’s spokesperson said she had not been contacted by them and that Loeffler’s “investment decisions” are made by “multiple third-party advisors without my or my husband’s knowledge or involvement.

Loeffler accused of insider trading

Loeffler (R-Ga.) sold millions of dollars in stock holdings following a private senators-only briefing on Jan. 24 regarding the coronavirus COVID-19. It’s alleged she did so knowing information that was not available to the public. And it happened while President Donald Trump downplayed the impact of the virus in the United States.

The STOCK Act makes it illegal for senators to conduct insider trading and increased measures of transparency. It had substantial bipartisan support when it passed in 2013.

The newly appointed senator and her husband reported her first stock move the day of the meeting, which she shared photos of on Twitter. She and her husband, Jeff Sprecher, CEO of Intercontinental Exchange (ICE), the company that owns the New York Stock Exchange, sold stock in Risideo Technologies and bought them in Citrix, which saw a rise with more people working from home.

She released details of more stock moves this week showing she sold off those in retail and bought some in personal protection equipment (PPE) used by medical professionals fighting the virus in hospitals. Stock in retail companies dropped with stores shutting their doors and stock in medical equipment has grown as professionals are trying to buy enough.

How is Loeffler involved in sports?

Loeffler and Mary Brock purchased the Dream in 2011 after reaching the 2010 WNBA Finals, where they lost to Sue Bird and the Seattle Storm. The Dream made it back to the finals in 2011 and 2013.

In an interview with The Athletic in 2019, the duo stressed that it wasn’t about them providing Atlanta with a team. While they do take pride in providing the city with strong female role models, Loeffler told the New York Times, it’s a business that they’ve worked to make successful and sustainable.

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