“5 stars for conflict of interest”: Commerce SEC. Howard Lootnick’s money raises red flags

The wealthy US Trade Minister Howard Lottennik, whose former company has invested in the deep real estate, the cryptocurrency and the treasury, has become the loud face of Trump’s economic schedule, and it appears that the paid tariff and digital assets while monitoring ethics warns that possible fluctuations from the financial interests it activates.

On March 20, Lootnick appeared on Fox News and urged him Viewers to buy Tesla Arrows as markets decreased. When they recovered in early April, he was quickly with optimistic After x“You never bet on Donald Trump. You never bet against America.” Lutnick is also on the pro-profit Trump agenda, which can benefit Cantor Fitzgerd- a company now run by Lutnick’s sons.

While Lutnick agreed to strip his commercial interests and bend from Cantor Fitzgerd, BGC Group and NewMark Group, he did not say whether he would cancel himself from the Trump encrypted business squad that will direct an organizational framework for digital assets. Even after leaving the roles in his financial work and real estate, Lutnick will maintain great rights and must initially be taken to participate in some issues that involve 106 different companies’ entities, according to New York Times. Lutnick is occupied as “a president or executive in at least four companies with links with China,” according to time.

Lutnick is not the first to face questions about possible conflicts. Wilber Ross, the Minister of Commerce during the first period of Trump, raised inquiries about whether it is Sufficiently connected Or he was coming around some of his interests.

But the extent of the financial Lutnick tangle in the Trump’s second term represents an era in American governance, where the head of a federal agency responsible for commercial policy, census, weather research and job creation can work with a little accountability, according to general preachers and ethics experts interviewed by a salon.

Lutnick addressed the case during the Senate confirmation sessions, where it was It was confirmed by a vote 51-45 In February, he said: “I made a decision that I made enough money in my life. I can take care of myself, I can take care of my family. It is now my opportunity to serve the American people.”

Listening sessions raised concerns about his commercial relations and promised disposal. Lutnick and other Trump officials did not respond to specific complaints in the Senate or monitoring inquiries about the status of these disposals. Critics argue that a lack of transparency reflects an approach within the administration that reduces potential conflicts.

“In this administration, the conflicts are very widespread and consistent, but I think it is fair to say that Lootnick is standing out,” said Robert Weissman, co -chair of the public citizen. “Especially if he does not succeed, even a man who seems to be more than a billion dollars investments in a wide range of business sectors in a position that allows him to influence the sectoral sectoral policy and the president’s extensive economic policy-he believed that he is getting a five-star classification for conflicts of interest.”

Although most Americans do not think about trade management every day, a vital federal agency enhances the creation of job opportunities and economic growth through trade overseeing, statistical office, the minority business development agency, the National Oceanic and Atmospheric Administration, the American Patent and Brand Board and specifies hospitals that constitute everything from weather and research in the field of cybersecurity. Her work directly affects Americans’ daily lives, which affects prices and response to disasters and how to allocate resources.

For example, one of the agencies supervised by the Ministry of Commerce, the National Institute for Standards and Technology, is developing cybersecurity frameworks for government agencies and private companies to follow up.

“The Ministry of Commerce is a very important federal agency, and there are many things that I do not think of people like you while we are walking in our daily lives,” said Hui Chen, ethics advisor and former ethics and compliance expert in the Ministry of Justice, which resigned during the first period of Trump.

Notice how things have escalated in the past decade, as conflicts of interest quickly became the standard in various government agencies.

“Our system has never been designed for this level of conflict issues,” she said. “The system has been prepared with the assumption that when you tell people this is what you should do, they will do it.”

“Nutrine of enforcement”

Federal Law Members of the Council of Ministers prevent participating in government matters, as they have a financial interest. Lottennik, like the senior Trump officials, signed the pledge of ethics to avoid such conflicts, but it is difficult to enforce the police, especially during the Trump era, which suffers from his unnoticed struggles.

Officially, Lutnick step as president and executive of Cantor Fitzgerd LP, the holding company that controls Cantor Fitzgerd, BGC Group, Inc. , In addition to NewMark Group Inc. , After confirming it. In Trump’s style, his sons went up Brandon Lootnick and Kyle Lutnik to become president and vice president of Cantor Fitzgerland LP, respectively.

“Howard Lootnick agreed to strip his commercial interests in Cantor Fitzgerald, BGC Group, Inc. and NewMark Group, Inc. to comply with the rules of American government’s ethics and does not expect any arrangement that includes selling shares in the open market,” according to A. Company statement In February.

I paid the Tesla episode A message to the government ethics office from Senator Elizabeth Warren and MP Maxin WatersPerhaps the call to the investigation and Lottenic claimed that the federal morals law Big holdings in Tesla And its continuous delivery process.

The letter said: “It is not clear whether Mr. Lootnick has yet obtained a concession or has completed his interest in property rights in Cantor Fitzgerald,” as he asked for a response by April 11.

No investigation has been announced, and the government’s ethics office did not respond to the comment.

Last month, The Campaign Legal Center filed an ethical complaint Against Lootnick with the Government and Ethics Ethics Office at the Ministry of Commerce, and urged them to investigate the Tesla episode. The Trade Department did not respond to a request for comment.

“The laws of ethics prohibiting the use of the General Office to achieve special gains to hold public employees accountable for their responsibility in serving the public good. No public commodity is presented when an official in the cabinet works as an effect promoting the company’s shares,” said the CLC message. “If senior officials in the executive authority are allowed to ignore ethics laws in starkly, it reduces the confidence of the public in our institutions. Therefore, it is necessary to achieve Oge and Commerce whether the Lutnick minister has used his site incorrectly to encourage Tesla shares.”

Lutnick did not publicly treat allegations. None of the sources contacted for this story were able to confirm whether it had been completely disposed of.

“At the present time, you have a position in which you know that the Inspector General Office is not ready or able to act, the Ministry of Justice is not ready or able to act, the Congress is not ready or able to act – then leave with an enforceable vacuum,” said Chen.

Canor Fitzgerald, who lost hundreds of employees in the September 11 attacks, has one billion dollars in Microstrate-the world’s largest bitcoin holder-and is invested in NVIDIA, the leading Amnesty International chips maker.

The company is deeply invested in encrypted currencies, including investment funds circulating in Bitcoin and Ethereum. He is a head guard in Tether, a code with the most used Stablecooin in the world that has faced continuous scrutiny on its backup transparency and alleged use of illegal financing. Cantor Fitzgerland runs Tether reserves and holds a transferred debate, prompting concerns and national security when Lootnick, Minister of Commerce, was nominated.

Send Warren A message inquiring about Lutnick Etisalat with the paper Before Lutnick’s confirmation sessions, referring to its reputation as “Outlaws’s favorite cryptocurrency”. Warren also cited criminal activity, such as terrorist financing and evading sanctions.

Some criticisms directed at Lootnick came from unbearable sources: the investor criticized billionaire Bill Akkam Lottennik for his severe exposure to bonds, on the pretext that Lootnick stands on profit when the stocks disrupted.

Akman’s comments, Made on x On April 6, Cantor Fitzgerald has long been highlighted as a major player in the bond market and pointed to the direct and direct centers of the company in fixed income as a problem. The next day, Akkman tried to reduce his comments, and posted on X that it was “UnfortunateAnd “and note that he is doing his best to the country.”

Regardless of whether Lutnick has been fully stripped, analysts say it can still benefit greatly given the wallet of the wide industries and the economic issues that he supervises.

“In normal times, Bill Akman or anyone else cannot accuse the decisions that are taken due to the investments of the main policy makers,” Weissman said. “It is reasonable to make these assurances now, because it may still have continuous investments.”