Feds subpoena former Trump adviser Icahn over biofuels push
Investigators have subpoenaed Carl Icahn and his investment company for information related to his work on biofuels policy while he was an adviser to President Trump.
Icahn Enterprises LP revealed in a federal filing on Friday that the U.S. 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 U.S. 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 and refinery owner, served as a special adviser to Trump earlier this year.
In that role, he supported a proposal to shift the task of complying with the Renewable Fuels Standard’s ethanol-blending mandate to a new segment of the production line in a way that benefits refiners.