- Defense Secretary Pete Hegseth's personal broker allegedly approached BlackRock, a major asset manager, about a multimillion-dollar investment in defense companies weeks before airstrikes on Iran, according to a report by The Financial Times.
- Department of Defense spokesman Sean Parnell vehemently denied the allegations, labelling them 'false and fabricated' and demanding an immediate retraction from the newspaper.
- The alleged investment in BlackRock's Defense Industrials Active ETF was ultimately not made, as the fund was unavailable for Morgan Stanley clients at the time of the inquiry.
- The allegations emerge amidst broader concerns regarding insider trading related to Operation Epic Fury, following a surge in oil market betting just before a temporary halt to the US bombing campaign was announced by Donald Trump.
- Hegseth has been a prominent public figure in the attack on Iran, with Trump attributing 'credit' to him for advocating for the military action.
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