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Thu Jan 2, 2020, 04:10 PM

Congressman Ted Lieu Accuses Trump Of Stock Market Fraud And Opens Investigation [View all]

The House of Representatives may soon be able to add a new high crime and misdemeanor to the growing list of articles of impeachment against President Donald Trump.

Specifically, Trump is suspected of manipulating futures on the Chicago Mercantile Exchange by making statements that allowed investors to turn billions of dollars in profits, some of which may have directly benefited Trump and members of his family, according to a blockbuster report from Vanity Fair:

In the last 10 minutes of trading at the Chicago Mercantile Exchange on Friday, September 13, someone got very lucky. That’s when he or she, or a group of people, sold short 120,000 “S&P e-minis”—electronically traded futures contracts linked to the Standard & Poor’s 500 stock index—when the index was trading around 3010. The time was 3:50 p.m. in New York; it was nearing midnight in Tehran. A few hours later, drones attacked a large swath of Saudi Arabia’s oil infrastructure, choking off production in the country and sending oil prices soaring. By the time the CME next opened, for pretrading on Sunday night, the S&P index had fallen 30 points, giving that very fortunate trader, or traders, a quick $180 million profit.”


-snip-

These and other suspicious market moves tied to statements from Trump are now under the microscope thanks to two Democrats in the House, Reps. Ted Lieu (CA) and Kathleen Rice (NY), who have written letters to multiple federal agencies, Common Dreams reports:

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