President Donald Trump and New York Attorney General Letitia James. James’ office is conducting a preliminary review into possible insider trading related to Trump’s April tariff announcement that triggered a historic stock market rally. (Getty Images)
TRUMP VOWS NOBODY GETTING 'OFF THE HOOK' FOR 'UNFAIR' TRADE BALANCES, SAYS THERE WAS NO TARIFF 'EXCEPTION'
The DOW went up 7.9%, the S&P 500 rose 9.5% and the Nasdaq jumped 12.2% the same day.
Some lawmakers have raised concerns about possible insider trading. Sen. Elizabeth Warren, D-Mass., told CNN’s Jake Tapper on "State of the Union" that the Securities and Exchange Commission should investigate.
"It’s entirely appropriate to have an investigation to make sure that Donald Trump, Donald Trump’s family, Donald Trump’s inner circle, didn’t get advance information and trade on that information," Warren said.
Sens. Adam Schiff, D-Calif., and Ruben Gallego, D-Ariz., wrote a letter Thursday to White House Chief of Staff Susie Wiles, as well as Trade Representative Jamieson Greer, calling for an investigation into potential insider trading.
New York State Attorney General Letitia James, a former city council member in New York and public defender, launched her run for New York attorney general during the 2018 cycle. (Michael M. Santiago/Getty Images)
James, a former city council member in New York and public defender, launched her run for New York attorney general during the 2018 cycle, while emphasizing that if she were elected, she would aggressively pursue legal charges against Trump, vowing to expose the "con man" following her win that year.
James reported in November 2024 that her office took on nearly 100 legal challenges against Trump during his first administration and added after his second presidential win last year that she would continue challenging him in the courts to "defend the rights of New Yorkers and the rule of law."
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"We did not expect this result, but we are prepared to respond to this result. And my office has been preparing for several months because we've been here before," James said following Trump’s election win in November 2024. "We faced this challenge before, and we used the rule of law to fight back. And we are prepared to fight back once again because, as the attorney general of this great state, it is my job to protect and defend the rights of New Yorkers and the rule of law. And I will not shrink from that responsibility."
Under the 1921 Martin Act, the New York attorney general has broad authority to investigate possible securities fraud.
The law allows the office to subpoena witnesses, demand documents, and bring civil or criminal cases without proving intent to defraud.
Jasmine is a writer at Fox News Digital and a military spouse based in New Orleans. Stories can be sent to jasmine.baehr@fox.com
https://www.foxnews.com/politics/longtime-trump-foe-letitia-james-reviewing-possible-insider-trading-over-presidents-tariff-pause