Prosecutors are investigating whether or not billionaire businessman Carl Icahn pushed for a federal coverage change that will have benefited one in every of his investments whereas he was serving as an adviser to President Donald Trump.
The U.S. legal professional’s workplace in Manhattan has issued subpoenas to Icahn’s firm and one other firm, CVR Energy, wherein he has an 82 p.c stake, each corporations disclosed in regulatory filings. CVR is a publicly traded firm that makes a speciality of refining and is valued at almost $three billion.
The firms mentioned they’re cooperating with the subpoenas, which have been first reported by Bloomberg. “The U.S. Attorney’s office has not made any claims or allegations against us or Mr. Icahn,” Icahn Enterprises L.P. mentioned in its submitting.
Icahn, who backed Trump throughout the marketing campaign, was named a particular adviser on regulation final December. He stop in August to keep away from what he known as “partisan bickering” about his place within the administration.
His resignation adopted an investigation by CNBC into potential conflicts of curiosity and got here simply earlier than report questioning whether or not he had damaged any legal guidelines.
The matter centered on the Renewable Fuel Standard, a program that requires refiners to mix renewable biofuels into gasoline and diesel. Icahn needed modifications that will have helped CVR Energy, CNBC reported.
The U.S. Attorney’s workplace declined to touch upon the scope of the probe, however Icahn LP mentioned in its submitting that investigators need “information pertaining to our and Mr. Icahn’s activities relating to the Renewable Fuels Standard and Mr. Icahn’s role as an advisor to the President.”
Icahn didn’t instantly return a name for remark however when he resigned, he denied any battle.
“I never had a formal position with your administration nor a policymaking role. And contrary to the insinuations of a handful of your Democratic critics, I never had access to nonpublic information or profited from my position, nor do I believe that my role presented conflicts of interest,” he wrote to Trump.
“Indeed, out of an abundance of caution, the only issues I ever discussed with you were broad matters of policy affecting the refining industry. I never sought any special benefit for any company with which I have been involved, and have only expressed views that I believed would benefit the refining industry as a whole,” he added.