economy
House Dem Sam Liccardo probes suspicious oil trades during Iran war
A number of well-timed trades during the war have caught the attention of lawmakers and regulators.
TL;DR
- Rep. Sam Liccardo is probing financial regulators regarding trades placed before President Trump's Iran war updates.
- Large trades in crude oil and S&P 500 E-mini Futures were made shortly before Trump's announcements, raising concerns of insider trading.
- This follows previous well-timed, large-volume trades during the Iran war effort.
- Liccardo expressed alarm and urged the SEC and CFTC to open investigations.
- He also criticized prediction markets and stated that a White House memo on insider trading provides little comfort.
- Liccardo asked regulators about their investigation tools, methods to combat prediction market insider trading, and measures to prevent government employees from profiting from insider knowledge.