berg80
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- Oct 28, 2017
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Insider trading concerns around oil and military moves are on the rise. Can anyone police the bets?
A flurry of bets made prior to major announcements about the Iran war has ramped up speculation that individuals or groups with advance knowledge of U.S. military plans are cashing in on insider information.
Insider trading concerns around the Iran war are on the rise. Can anyone police the bets?
So far, no American has faced federal charges related to insider trading on event-driven news. But accusations about questionable trades are mounting.
I haven't seen any individuals named until now.
Pete Hegseth’s broker attempted to make defense investments before Iran war: Financial Times
A broker for U.S. Defense Secretary Pete Hegseth sought to make a large investment in major defense companies in the lead up to the Iran war, according to the Financial Times. The Pentagon has dismissed the report.The Financial Times reported Tuesday that Hegseth’s broker at banking giant Morgan Stanley contacted BlackRock in February about making a multimillion-dollar investment in its iShares Defense Industrials Active ETF.
The ETF, which has about $3.1 billion in assets, counts companies such as RTX — formerly known as Raytheon — Lockheed Martin and Northrop Grumman among its largest holdings, BlackRock data showed.
The Defense Industrials Active ETF has lost 12.4% over the past month, around the time the war in Iran started, according to LSEG data.
The FT also said that the investment discussed by Hegseth’s broker ultimately did not go ahead because the fund was not yet available for Morgan Stanley clients to buy at the time. It is unclear whether the broker found another defense-related investment.
Pete Hegseth's broker attempted to make defense investments before Iran war: Financial Times
Pentagon chief spokesperson Sean Parnell dismissed the report in a post on X, calling it "entirely false and fabricated."
I'm racking my brain trying to figure out how Hegseth's broker would have knowledge about the US taking action against Iran ahead of time. Unless he mistakenly got included in another Signal chat conservation during which Pete discussed war plans.
They say "loose lips sink ships." Nowadays they can make someone a fortune.