There are accusations that he would use his presidency to enrich himself, his family members and friends Donald Trump at least since the beginning of his second term in office.
Since Tuesday, concrete allegations have been circulating against one of his closest confidants: of all people, the Minister of War Pete Hegseth should immediately before the start of the US attacks in Iran tried to invest millions in defense funds through an intermediary. That’s what they report Financial Times (FT) citing employees of the world’s largest asset manager Blackrock.
According to this, a stock broker at US Bank Morgan Stanley tried on behalf of Hegseth in mid-February $2.4 million Buying shares in an equity fund (ETF) managed by Blackrock: The so-called Defense Industrials Active ETF (IDEF) holds shares in several large US defense companies such as Lockheed Martin or Palantir. Last year its market value grew by 28 percent.
Hegseth could have committed a criminal offense for several reasons
Because the price of an ETF is always based on the value of the company shares contained in the portfolio, insider trading is just as punishable as traditional stock transactions. Hegseth’s investment would have been illegal for several reasons: Firstly, the US Department of Defense is the largest customer of most of the defense companies included in the IDEF.
Above all, as the responsible minister, he knew very well about the planned war against Iran and the exact time of the attack. For this reason, government members are generally only permitted to trade on the stock exchange to a limited extent.
The purchase order was immediately reported internally at BlackRock as attempted insider trading, the FT reports. The investment bank itself said that the deal was rejected because IDEF was simply not available to customers of its competitor Morgan Stanley.
A Pentagon spokesman, however, denied that the order ever existed: “Neither Defense Minister Hegseth nor any of his representatives have contacted BlackRock regarding such an investment.”
Suspicious transactions immediately before Trump’s announcements
The report comes at a time when critics such as Democratic Senator Elizabeth Warren (Massachussetts) are accusing the Trump administration of regular, large-scale insider trading. One of many indications: Last year, shortly before he postponed his threatened punitive tariffs for the first time, the President wrote on his Truth Social platform: “A great time to buy stocks!”
Sea Axios The US Securities and Exchange Commission (SEC) is currently investigating an increase in suspicious trading activity related to the Iran War. For example, on March 23, almost 3,000 bets were placed on falling oil prices (futures) – 16 minutes before Trump extended his ultimatum to the Iranian regime. Reuters According to reports, the SEC’s top law enforcement official resigned the same day.
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