>> Democratic senators on Tuesday asking US regulators to launch an investigation into billionaire Carl Icahn, saying the activist investor may have violated securities trading law since becoming an advisor to President Donald Trump. In February, Icahn proposed to change to the US biofuels program that would ease the regulatory burden on oil refining companies including CVR Energy, in which he owns a majority stake.
Senators say they became concerned after a Reuters exclusive report that CVR made a massive bet in 2016 that prices for US government biofuels credits would fall, a strategy that paid off. Now these senators want a probe into whether this was more than just a lucky bet. Icahn had previously dismissed accusations that his proposal to the White House was self serving.
The letter was signed by Democratic senators Elizabeth Warren, Sheldon Whitehouse, Sherrod Brown. The letter acts as a request and the agencies are not required to act upon it.