Icahn subpoena
Feds want info on fuel mogul’s role as Prez energy aide
BILLIONAIRE Carl Icahn has been subpoenaed by federal investigators looking for information about his attempts to influence biofuel policy while serving as an adviser to President Trump, according to financial filings.
Icahn and Icahn Enterprises said they are cooperating with the subpoena, which is “seeking production of information” regarding their activities concerning the Renewable Fuel Standard.
The filing, first reported by Bloomberg News on Wednesday, says no claims or allegations have been made against CVR Refining, the oil refining company in which Icahn holds a majority stake.
“We are cooperating with the request and are providing information in response to the subpoena,” the filing states.
A spokeswoman for Acting U.S. Attorney Joon Kim in Manhattan declined to comment.
An attorney for Icahn did not respond to requests for comment.
Icahn has drawn intense criticism for pushing for changes in biofuel policies, including attempts to get the Environmental Protection Agency to change who must comply with annual biofuel quotas.
The effort would shift the burden away from refiners.
The Renewable Fuel Standard requires oil refiners, such as CVR, to blend increasing amount s of ethanol and other biofuels into gasoline and diesel each year. Icahn (photo) stepped down as an adviser to Trump in August after Democratic lawmakers argued his appointment skirted against ethics standards. The 81-year-old, who is worth more than $17 billion and is one of the richest men in the world, never made any attempts to separate himself from his business interests. “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 filing reads. Icahn also denied any conflict when he resigned.
“I never had a formal position with your administration nor a policymaking role,” he wrote to Trump. “And contrary to the insinuations of a handful of your Democratic critics, I never had access to nonpublic information or profited from my position, nor do I believe that my role presented conflicts of interest.”
The revelations about federal investigators eying Icahn come a week after Trump’s former campaign chairman and another aide were indicted by special counsel Robert Mueller on money-laundering charges and a campaign adviser pleaded guilty to lying to the FBI about connections to Russia.