Former Trump adviser, Carl Icahn subpoenaed over biofuels policy
09 Nov 2017
Investigators have subpoenaed Carl Icahn and his investment company for information related to his work on biofuels policy when he was an adviser to president Trump.
Icahn Enterprises LP revealed in a federal filing on Friday that the US attorney for the Southern District of New York is ''seeking production of information pertaining to our and Mr. Icahn's activities relating to the Renewable Fuels Standard and Mr. Icahn's role as an advisor to the President.''
''We are cooperating with the request and are providing information in response to the subpoena,'' the company wrote in a Securities and Exchange Commission (SEC) filing.
''The US Attorney's office has not made any claims or allegations against us or Mr. Icahn. We maintain a strong compliance program and, while no assurances can be made, we do not believe this inquiry will have a material impact on our business, financial condition, results of operations or cash flows," the company wrote.
Icahn, a billionaire investor who also owns a refinery, served as a special adviser to Trump earlier this year.
In the role he supported a proposal to shift the compliance task with the Renewable Fuels Standard's ethanol-blending mandate to a new segment of the production line in a way that benefits refiners.
The subpoena comes after questions were raised regarding Icahn's former unofficial role advising Trump on regulatory issues. He stepped down from the role in August in what he said came after mutual decision with Trump.
In announcing his departure, Icahn wrote in a letter to Trump that he "never had access to nonpublic information or profited from my position, nor do I believe that my role presented conflicts of interest."
"Icahn admitted that he has advocated for policy decisions that could be worth a great deal of money to him," Norman Eisen, the chief White House ethics lawyer from 2009 to 2011, and Richard Painter, who held the same role from 2005 to 2007, wrote in a USA Today opinion column in March.
