Dem Rep Calls for SEC Probe into Trump Pal Carl Icahn for Suspected Insider Trading


Billionaire investor Carl Icahn might be about to face a federal investigation in connection with his recent stock sales.

Cheddar correspondent and Mediaite alumnus J.D. Durkin reports that Congressman Luis Gutierrez (D-IL) is calling on U.S. Securities and Exchange Commission chairman Jay Clayton to launch an inquiry into Icahn’s affairs. Gutierrez suspects Icahn might have committed insider trading with his recent sale of approximately one million shares of Manitowoc Company Inc., an industrial manufacturer that deals heavily in steel.

Icahn is a known to be friends with Donald Trump — who caused a lot of commotion recently because of his proposal to place tariffs on steel and aluminum imports. Manitowoc’s share price took a significant dip lately, and the timing of Icahn’s stock dump invites questions about whether he knew about the president’s plans and wanted to cash in before the inevitable market shakeup. Icahn has denied having prior knowledge of Trump’s proposal.

Here’s a copy of the letter Gutierrez is sending to Clayton.

Watch above, via Cheddar.

[Image via screengrab]

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