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Calls Made To Probe Ex-Bedford Resident Carl Icahn's Ties To Donald Trump

Carl Icahn. Photo Credit: File
President Donald Trump at a rally in Poughkeepsie last year. Photo Credit: Tom Auchterlonie

Eight Democratic senators announced on Tuesday a call for a federal investigation into whether investor Carl Icahn, a former Bedford resident, broke the law in his role as advisor to President Donald Trump.

The senators are concerned CVR Energy, an oil refiner controlled by Icahn, made business decisions based on Icahn's ties to the president, a violation of insider trading and market manipulation laws, according to the New York Times . CVR might have timed its buying and selling of renewable fuel credits based on knowledge Icahn had about policy changes, according to the Times .

CVR chose not to buy credits leading up to Trump's election, selling the credits as they reached peak price shortly after the election, saving the company $50 million, according to the Times .

The senators said Icahn believed the credits would plunge because he could influence who Trump would pick to lead the EPA, according to the Times. Trump eventually picked Scott Pruit, after Icahn recommended and interviewed him, according to the Times .

After Pruitt was nominated, the price of the credits dropped 20 percent, according to the Times . CVR shares have increased 75 percent since Trump was elected, according to the Times .

To read the Times story, click here .

Trump, who owns an estate in Bedford, also owns Trump National Golf Club Hudson Valley in Stormville and Trump National Westchester in Briarcliff Manor. The Trump name also adorns Trump Tower At City Center in White Plains, Trump Plaza in New Rochelle, Trump Park Residences in Yorktown and the Donald J. Trump State Park on the Westchester/Putnam border.

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