Trump Goon Hit With Bombshell Probe Over Billion-Dollar Deal

Commerce Secretary Howard Lutnick has been accused of a potential ethics violation over a major rare earth minerals deal announced by the U.S. government that has links to his family-run financial firm.

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A group of Democrats has written a letter, seen by the Wall Street Journal, to Cantor Fitzgerald Chairman Brandon Lutnick, the commerce secretary’s son, expressing concerns about a $1.6 billion investment the Trump administration announced in January with minerals company USA Rare Earth.

Cantor Fitzgerald had previously worked with USA Rare Earth, including serving as the lead placement agent on the company’s private share offering while the $1.6 billion deal with the government was being arranged.

The group of Democrats—including Sens. Elizabeth Warren of Massachusetts, Chris Van Hollen of Maryland, and California Rep. Zoe Lofgren—is now demanding information from Cantor Fitzgerald to determine whether the firm benefited from its connections to Lutnick.

The letter also seeks additional information, including why Cantor Fitzgerald was selected as the lead placement agent for USA Rare Earth, whether it was paid for those roles, and whether the firm and Commerce Department officials held any meetings together, the Journal reported.

A similar letter was also sent earlier this year to USA Rare Earth CEO Barbara Humpton, requesting details about the deal.

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In the letter to Cantor Fitzgerald, the lawmakers claim the commerce secretary has so far “refused to provide answers” to their inquiries.

The $1.6 billion deal between the government and USA Rare Earth was finalized last month. The U.S. has been seeking to increase domestic production of rare earth metals and minerals to reduce its reliance on China.

Last year, Beijing imposed severe restrictions on exports of rare earth metals and minerals—used in everything from military equipment to cars and smartphones—in retaliation for Donald Trump’s sweeping tariffs on China.

“USA Rare Earth’s heavy critical minerals project is essential to restoring U.S. critical mineral independence,” Commerce Secretary Howard Lutnick said in a January statement. “This investment ensures our supply chains are resilient and no longer reliant on foreign nations.”

The Daily Beast has contacted Howard Lutnick’s office and Cantor Fitzgerald for comment.

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