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Tag: conflicts-of-interest ✕

Trump Cuts the Ribbon on a White House Helipad Paid For by Lockheed Martin — Thanking the CEO of a Contractor Holding More Than $40 Billion in Government Work — While Mark Warner Calls It One of the "Crazy Vanity Projects That Only Serve Himself" and Connecticut Democrats Say the Bill May Land on Taxpayers Anyway

On Monday, September 21, 2026, President Trump used oversized gold scissors to cut a red, white and blue ribbon on a new granite helipad on the White House South Lawn, then took Marine One's first flight from it. The roughly $5–6 million landing pad was paid for not by Congress but by Sikorsky Aircraft — a subsidiary of Lockheed Martin — through a contribution routed to the National Park Service. Trump posted afterward that he wanted "to thank Jim Taiclet, CEO of Lockheed Martin, who made this valuable contribution to our Country," adding, "Our Government has been thinking about doing this for 25 years, but was never able to get it done. I get things done!" The donor is also one of the federal government's largest contractors, holding more than $40 billion in new and expanded government contracts, and it had already given $1 million to Trump's inauguration and more than $10 million toward his White House ballroom. The official rationale is that exhaust from Sikorsky's new VH-92 Patriot Marine One helicopters was scorching the South Lawn grass. Democrats have objected since the project was announced in July. Sen. Kirsten Gillibrand called it a "joke," contrasting it with a bipartisan housing bill Trump would not sign. Sen. Mark Warner said Trump was "charging taxpayers an extra $875,000 just to speed up construction of his private White House helipad — adding to the hundreds of millions he's spent on crazy vanity projects that only serve himself." Connecticut's delegation — Sens. Richard Blumenthal and Chris Murphy and Reps. John Larson, Joe Courtney and Rosa DeLauro, who represent Sikorsky's Stratford workforce — praised the company's workers but said Trump was "rushing to complete yet another White House project without providing the American people with the transparency they deserve." The ribbon-cutting itself became a second story: the major television networks skipped live coverage in protest of Trump's ban on CNN, MS NOW and Politico from the White House, leaving the president inaudible over helicopter noise on an in-house video feed.

“We are just leaving the White House Lawn on the maiden voyage from the newly built, and very beautiful, Heliport! I want to thank Jim Taiclet, CEO of Lockheed Martin, who made this valuable contribution to our Country. Our Government has been thinking about doing this for 25 years, but was never able to get it done. I get things done! Also, and most importantly, THANK YOU to the Great Construction Workers and Stone Masons of the Washington, D.C., area, who created something very special, and to Clark Construction for its wonderful supervisory work. GOD BLESS AMERICA!”

Donald Trump (R-FL) · Sep 21, 2026
ethics
white-house
lockheed-martin
9 statements
· Updated

Trump Media Sells Traders $100,000-a-Month Early Access to Trump's Truth Social Posts, Drawing Republican Unease, Democratic Investigations, and a First Amendment Lawsuit

On July 16, 2026, Trump Media & Technology Group announced "Truth API," a business-to-business data feed giving paying customers licensed, machine-readable, real-time delivery of posts from the highest-ranking Truth Social accounts — including the president's. The service was pitched to high-frequency traders, hedge funds, and other institutional investors at up to $100,000 a month, with a discounted $60,000 rate for firms signing three-year contracts. It launched August 1, 2026. Interim CEO Kevin McGurn said the product would let TMTG "monetize proprietary assets," adding that "markets already move on Truth Social posts." Trump controls a trust holding a large majority stake in Trump Media and therefore stands to profit directly. The reaction split along an unusual line. Democrats moved on three tracks at once: Rep. Ritchie Torres (D-N.Y.) wrote to SEC Chair Paul Atkins on July 21 asking the agency to examine the product before launch; Sen. Mark Warner (D-Va.) wrote the same day to financial-industry trade groups urging member firms to refuse to buy it; Sens. Elizabeth Warren (D-Mass.) and Adam Schiff (D-Calif.) sent their own SEC referral on July 28; House Judiciary ranking member Jamie Raskin (D-Md.) opened a minority investigation on July 30, demanding TMTG's customer list, pricing, marketing materials, and communications with administration officials; and Sen. Alex Padilla (D-Calif.) introduced the Stop Corrupt Trading Act on August 4 with Sens. Richard Blumenthal, Sheldon Whitehouse, and Gary Peters, which would make it a federal crime for a president or vice president — or any company in which they hold at least a 5 percent stake — to sell nonpublic access to their statements. Padilla's office estimated the feed could generate roughly $120 million a year if about 100 firms subscribed. More unusually, several Senate Republicans volunteered criticism when reporters asked. Sens. Lisa Murkowski (R-Alaska), Thom Tillis (R-N.C.), Susan Collins (R-Maine), and Bill Cassidy (R-La.) all said the arrangement looked improper; Sen. John Cornyn (R-Texas) said he was still working out how to respond. No congressional Republican publicly defended the product. On August 12, The Intercept and the Freedom of the Press Foundation sued Trump and Trump Media in federal court in Manhattan, arguing that selling preferential access to the president's public announcements violates the First and Fifth Amendments. A TMTG spokesperson said Democrats were mischaracterizing Truth API "either out of ideological opposition to free markets or a failure to grasp the distinction between public and nonpublic information," and the White House has said there is no conflict of interest. No regulator has determined that the service is unlawful; the SEC had not publicly acted as of mid-August.

“Trump Media created a marketplace that enables insider trading, which Trump directly profits from. This scheme turns the public trust into private profit. It is corruption, plain and simple.”

David Chiu (D-CA) · Sep 21, 2026
trump-media
truth-social
conflicts-of-interest
17 statements
· Updated

Eight Months After U.S. Troops Seized Maduro, Trump Announces "THE BIGGEST OIL DEAL IN WORLD HISTORY" — a 100-Year Lease on 65 Billion Barrels of Venezuelan Crude

On Friday, Aug. 28, 2026, President Trump announced on Truth Social that the United States had "secured majority US control of more than 65 BILLION BARRELS of proven Oil Reserves in Venezuela, at no cost to the American Taxpayer" — calling it "THE BIGGEST OIL DEAL IN WORLD HISTORY." As described by the administration, the arrangement covers 17 oil fields across Venezuela's main petroleum basins. A newly formed private company — the U.S. government partnering with a private operator the White House has not named — receives 100-year development rights. The United States takes what officials describe as 55 percent effective output, comprising an ownership stake plus the right to buy oil at cost, with the crude earmarked for the Strategic Petroleum Reserve and military use. The administration projects roughly $100 billion in private investment into Venezuela's oil industry and more than $209 billion in tax revenue for Caracas. Trump said the deal "more than doubles American oil reserves" and "will substantially lower gas prices for all Americans." Trump said the agreement was negotiated by Secretary of State Marco Rubio and Defense Secretary Pete Hegseth with Venezuela's interim president Delcy Rodríguez, who called it a "historic milestone in bilateral relations." Rubio called it "a huge win for both the American and Venezuelan people." The announcement lands roughly eight months after the January 2026 U.S. military operation that captured Nicolás Maduro and flew him to the United States to face narcoterrorism charges — an operation Congress never authorized, and one Democrats had argued from the start was about oil. Their reaction on Friday was to say the deal proved the point. Sen. Chris Van Hollen wrote that "this isn't a win," calling it "proof Trump put our service members at risk to get Venezuelan oil for his billionaire buddies." Sen. Tim Kaine, of the Foreign Relations Committee, said "Using our troops for a private oil grab is corruption at epic scale!" Republicans framed it as vindication: Sen. Bernie Moreno said that "if it were up to DC Democrats, Maduro would still be in power." Neither Trump nor Rubio disclosed specifics of the arrangement — the identity of the private operator, the production timeline, or who bears the cost of rebuilding Venezuela's degraded oil infrastructure. Major U.S. producers have kept their distance: ExxonMobil's CEO said earlier in 2026 that Venezuela was "uninvestable" in its current state, and ExxonMobil and ConocoPhillips both remain wary years after their assets there were expropriated.

“The United States did no cost, zero cost to American taxpayers, but we’re going to get massive amounts of discounted oil price and ownership interest.”

Chris Wright (R-CO) · Sep 6, 2026
venezuela
oil-and-gas
foreign-policy
15 statements
· Updated

The Government Has Paid Nearly $4 Billion to Kill Offshore Wind — and $900 Million of the Latest Settlement Goes Straight to a Private Equity Firm Run by a Trump Donor Who Lives Near Mar-a-Lago

On August 6–7, 2026, the Trump administration announced a $1.22 billion settlement with the German utility RWE. In exchange for the money — drawn from a federal fund — RWE gave up offshore wind leases off New York, California and Louisiana, roughly seven gigawatts of planned capacity, and agreed to reinvest the proceeds in oil, gas or nuclear "conventional energy." It was the latest in a series of buyouts, beginning with a roughly $1 billion deal with TotalEnergies in March 2026, that has now cost taxpayers close to $4 billion. On August 27, 2026, reporting revealed where most of the RWE money is going: $900 million of it will buy a stake in a Louisiana LNG project from Stonepeak, the private equity firm co-founded and run by Australian billionaire Michael Dorrell. Dorrell owns a mansion near Mar-a-Lago and gave a combined roughly $1 million to the Trump-Vance inaugural committee after the 2024 election. Rep. Jared Huffman (D-CA), ranking member of the House Natural Resources Committee, who had already called the settlements "an insane waste of taxpayer funds and a ridiculous charade that seems to be blatantly illegal," said the Stonepeak connection "now adds the stench of corruption," and said he would expand his existing investigation to cover it. The White House called the reporting "a brazen attempt to insinuate a conflict-of-interest that does not exist," and the Interior Department said "no one at the Department directed which company RWE was to invest in." The buyouts were already under scrutiny. In June 2026, New York Gov. Kathy Hochul and Attorney General Letitia James led a seven-state lawsuit calling the arrangement a "pay-not-to-play scheme." In July 2026, Sen. Alex Padilla (D-CA) led fourteen senators — including Schumer, Schatz, King and Heinrich — in an investigation of the deals. Sen. Sheldon Whitehouse (D-RI) called the buybacks "an enormous money pump, pulling billions of dollars out of consumers' pockets." Interior Secretary Doug Burgum defended them, saying Americans "deserve an energy system built on common sense, not one dependent on costly subsidies."

“The Trump Administration’s backroom buyout with Golden State Wind to stop offshore wind development in favor of gas and oil drilling is, unfortunately, a classic playbook for them to line the pockets of their Big Oil donors.”

Rob Bonta (D-CA) · Aug 28, 2026
energy
offshore-wind
interior-department
8 statements

Trump Discloses More Than 1,000 Stock Trades in a Single Month — Including Oil Companies Made Richer by the War He Started — and Joint Economic Committee Democrats Put His Gain at $15.5 Million

Two disclosures landed a few days apart in late August 2026 and, read together, put a number on what the Iran war has been worth to the president's own portfolio. On Aug. 24, Democrats on Congress's Joint Economic Committee, led by ranking member Maggie Hassan, reported that President Trump's oil and gas holdings had risen roughly 39 percent through Aug. 17 — a gain of as much as $15.5 million — putting their estimated value between $17.2 million and $61.1 million. The committee also found he had bought up to $3.6 million in additional oil and gas stock in the first three months of 2026, the quarter the war began. Then on Aug. 27 a periodic transaction report showed more than 1,000 individual trades in June alone, an average of over 30 a day, worth between $78 million and $263 million. Among them were repeated trades in companies directly exposed to the war: two sales and a purchase of ExxonMobil, three sales of ConocoPhillips, a sale of Valero Energy, and a purchase of Occidental Petroleum. Reporters also flagged the timing of trades outside energy, including a Boeing purchase on the day the Navy awarded the company an $880 million contract and an ExxonMobil sale on the day Trump declared a ceasefire. The White House says the president has no hand in any of it: spokesman Davis Ingle said the portfolio is run by outside institutions through computer-driven model portfolios replicating indexes such as the Schwab 1000. The disclosures land ten weeks before the midterms and alongside a separate demand from Sens. Elizabeth Warren and Rep. Robert Garcia that Trump name the managers behind his accounts.

“Trump's only focus is enriching himself at the expense of the American people.”

Kirsten Gillibrand (D-NY) · Aug 27, 2026
ethics
stock-trading
iran-war
4 statements

House Judiciary Democrats Widen Their Kushner Probe to a $120 Million Albanian Land Deal Bought From a Suspected Drug Trafficker — and Raskin Tells the President’s Son-in-Law He Started "Another Fraud-Related International Incident All by Yourself"

On Monday, August 24, 2026, House Judiciary Committee Ranking Member Jamie Raskin (D-MD) sent Jared Kushner a letter expanding the committee's investigation into Kushner's foreign business dealings to cover his purchase of more than $120 million of disputed coastal land in Albania for a luxury resort. The seller, Arthur Shehu, is a suspected criminal with a history of drug trafficking; the Albanian government has alleged he used fraudulent documents and forged Ottoman-era land records to claim ownership of large stretches of coastline. Democrats say Kushner bought anyway, after being warned the seller did not own the property, while pursuing a project that has drawn extraordinary concessions from the Albanian government and mass protests inside Albania. Raskin opened the letter by noting Kushner had not responded to the committee's earlier demand for records about his simultaneous work as a U.S. foreign policy official — he is the administration's Middle East envoy and a lead negotiator on the Iran war — and as a private investor funded by foreign governments. The expanded probe asks whether Kushner's conduct warrants scrutiny under the Foreign Corrupt Practices Act and whether federal bribery, conflict-of-interest and foreign-agent statutes need to be rewritten. Records are due September 7, 2026. The White House dismissed the demand. Spokeswoman Anna Kelly called it "the same, tired narrative" Democrats have pushed for a decade, and the administration has consistently described Kushner — who holds no Senate-confirmed post — as a volunteer whose private business is separate from his diplomacy.

“This is the same, tired narrative that Democrats have pushed against President Trump, his family, and his administration for a decade.”

Anna Kelly (R) · Aug 25, 2026
congress
oversight
kushner
2 statements
· Updated

Trump's Own Bank Regulator Grants a National Charter to the Trump Family's Crypto Firm — the First Time a Sitting President's Company Has Been Approved to Run a Bank

On Friday, August 14, 2026, the Office of the Comptroller of the Currency — a bureau of the Treasury Department headed by a Trump appointee, Comptroller Jonathan Gould — granted preliminary conditional approval for a national trust bank charter to World Liberty Trust Company, the banking arm of World Liberty Financial. World Liberty Financial was co-founded by President Trump and his sons Donald Jr., Eric and Barron alongside Zach Witkoff, son of Trump special envoy Steve Witkoff; an entity tied to the president and his family owns roughly 38 percent of the business. It is the first time in American history that a company owned by a sitting president's family has been cleared to operate a federally chartered bank. The charter, which is conditional and does not authorize the bank to open until preopening requirements are met, would let World Liberty issue and redeem its dollar-backed stablecoin USD1 — more than $4 billion in circulation — and hold digital assets in custody as a fiduciary, without the middlemen it currently pays. It may not issue loans or take direct deposits. Within hours, Sen. Elizabeth Warren, the ranking Democrat on the Senate Banking Committee, announced the Ending Presidential Corruption in Banking Act, which would bar senior government officials and their families from owning or controlling a bank. Nine Senate Democrats and Sen. Bernie Sanders signed on. The White House said the president's holdings sit in discretionary accounts run by third parties and that there are no conflicts of interest; World Liberty said the charter subjects it to permanent federal supervision that will outlast the administration. Warren had pressed the OCC in January to halt its review until Trump divested, and was rebuffed.

“All of President Trump's investment holdings are held in fully discretionary accounts managed by independent third-party financial institutions. There are no conflicts of interest.”

Anna Kelly (R) · Aug 17, 2026
crypto
conflicts-of-interest
trump-family-business
8 statements

Warren and Garcia Demand Trump Name the Managers Behind 21,000 Stock Trades and Explain Purchases That Preceded His Own Policy Announcements

On August 12, 2026, Sen. Elizabeth Warren (D-Mass.) and Rep. Robert Garcia (D-Calif.) sent President Trump a 17-page letter — first reported by CNBC on August 13 — demanding he identify the money managers he says control his investment accounts and explain dozens of stock trades that lined up with official government actions or market-moving presidential statements. The letter covers more than 21,000 trades reported in 2025 and roughly 3,500 more in the first quarter of 2026 alone, an average of about 50 trades every day markets were open. Warren and Garcia asked Trump to list "all third-party institutions and managers that direct your trades," explain how they were selected, what mandate they were given, and what investment processes they follow. They flagged 15 instances they characterized as Trump buying into a company shortly before an official announcement favorable to it — including purchases of Nvidia and Advanced Micro Devices on January 6, a week before the administration loosened chip export controls affecting sales to China, and a February 10 purchase of between $1 million and $5 million in Axon Enterprises, the Taser manufacturer, two weeks before ICE announced a $220 million Taser contract. The New York Times has reported there is no indication Trump holds a true blind trust; the lawmakers pressed that point, noting Trump personally signed a financial disclosure certifying his awareness of thousands of individual stock transactions. The White House dismissed the inquiry. Eric Trump said the president's holdings are held in fully discretionary accounts run by independent third-party institutions using automated, model-based portfolios, and the Trump Organization called the letter "just another baseless political stunt." Warren and Garcia set an August 28 deadline for a response.

“the same, tired narrative that Democrats have pushed against President Trump, his family, and his administration for a decade”

Anna Kelly (R) · Aug 13, 2026
ethics
conflicts-of-interest
stock-trading
5 statements