Pentagon denies brokers pre-Iran war investment claims were made

US Department of Defense Demands Retraction of Report Alleging Broker’s Investment

The United States Department of Defense has issued a statement demanding the retraction of a report published by The Financial Times, which alleged that a broker for Defence Secretary Pete Hegseth attempted to make a large investment in weapons companies prior to the war on Iran. Pentagon spokesman Sean Parnell made the request on Monday.

According to the report, a wealth manager for Hegseth contacted BlackRock about making a multimillion-dollar investment in a defence-related fund in the weeks leading up to the war. However, it was reported that the investment did not proceed due to the fund’s holdings being unavailable at the time.

Parnell stated that the allegations are “entirely false and fabricated” and denied any involvement by Hegseth or his representatives with BlackRock regarding such an investment. He described the report as a “baseless, dishonest smear designed to mislead the public.”

The Department of Defense has maintained its commitment to high ethical standards and adherence to applicable laws and regulations. The Financial Times report has not been independently confirmed, and neither the Defence Department nor Morgan Stanley have responded to inquiries about the matter.

BlackRock declined to comment on the report. The incident comes amid scrutiny of well-timed trades in financial markets that have sparked speculation about potential insider knowledge.

Source: Al Jazeera