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Senators Seek Investigation into White House Adviser Icahn on RINs Market

An investigation into whether White House adviser Carl Icahn has violated “insider trading laws, anti-market manipulation laws, or any other relevant laws based on his recent actions in the market for renewable fuel credits” is being called for by eight Democratic Senators.

The letter was signed by Sens. Elizabeth Warren, D-Mass., Sheldon Whitehouse, D-R.I., and six others.

The letter was sent to the Securities and Exchange Commission, Commodity Futures Trading Commission and the Environmental Protection Agency. The lawmakers have previously pressed Icahn and the White House for more information on Icahn’s activities relative to his proposal to reconfigure biofuels rules which impacted the prices for Renewable Identification Numbers (RINs).

Icahn is a majority shareholder in CVR Energy, a firm required to show compliance with U.S. biofuels policy.

 

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