Rep. Sam Liccardo (D-Calif.) has raised concerns over a series of large trades in crude oil and S&P 500 E-mini futures placed shortly before President Donald Trump disclosed developments related to U.S. actions involving Iran.
Lawmaker Flags Highly Suspicious Trading Activity
In a letter sent Friday to Securities and Exchange Commission Chair Paul Atkins and Commodity Futures Trading Commission Chair Michael Selig, Liccardo raised concerns, CNBC reported.
“The timing indicates bets were placed by those with advance knowledge of the President’s action, strongly suggesting illicit trading on insider information,” he wrote.
Trades Preceded Market-Moving Iran Announcement
The scrutiny follows reports that significant positions in oil markets were taken just hours before a U.S.-Iran ceasefire, generating substantial profits.
Separately, a surge in S&P 500 E-mini futures trading occurred roughly 15 minutes before Trump announced that military action would …
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