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The anticipated investment deal fell through as the fund was not prepared to accept investors, according to a report from the newspaper.
Sean Parnell, a spokesperson for the Pentagon, refuted these claims.
“This accusation is completely untrue and unfounded,” Parnell stated.
“Neither Secretary Hegseth nor any of his associates contacted BlackRock regarding any investment of this nature.”
“This is just another groundless, deceitful attack aimed at misleading the public.”
Parnell demanded an immediate retraction.
“Secretary Hegseth and the Department of War remain unwavering in their commitment to the highest standards of ethics and strict adherence to all applicable laws and regulations,” he said.
The Financial Times cited “three people familiar with the matter” in making their reporting, all anonymous.
The Trump administration has been attracting scrutiny after a series of well-timed trades before major actions.
In the space of a minute, more than $800 million in trades was made on oil futures.
And whoever made those trades made an incredible amount of money.
Meanwhile on Polymarket, 150 accounts bet more than a million dollars that the US would strike Iran the next day.
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