Scott Bessent – Treasury Secretary
Bessent in involved in several separate inquiries into the Treasury Secretary’s conduct, primarily concerning potential conflicts of interest related to his financial holdings
. Key issues include his failure to divest assets as promised before his confirmation and allegations of using his public office to potentially benefit those holdings. Another investigation involves his handling of financial records related to Jeffrey Epstein, which led to a dispute with the Senate Finance Committee. There are also reports of other issues, such as discrepancies in his mortgage filings and a separate investigation initiated by the Treasury Department itself into government contracting programs. Conflicts of interest
- Failure to divest: Watchdog groups like the Campaign Legal Center and the Democracy Defenders Fund have asked the U.S. Office of Government Ethics and the Treasury’s Inspector General to investigate Bessent for not divesting from his assets after he pledged to do so before his confirmation.
- Potential self-enrichment: Critics argue he may be violating ethics rules by participating in trade negotiations that could impact the value of his undeclared financial stakes, such as private equity funds and cryptocurrency-related products.
Epstein investigation
- Withholding documents: The Senate Finance Committee has demanded that Bessent provide financial records related to Jeffrey Epstein, alleging that he is personally blocking access to documents that could advance their investigation into the sex trafficking ring.
- Disagreement on access: Bessent’s response to the committee has been criticized as evading questions and failing to provide necessary information, further fueling calls for an independent investigation into his role and the handling of sensitive information.
Other issues
- Mortgage discrepancies: Al Jazeera reported discrepancies in Bessent’s mortgage filings, though experts noted that such inconsistencies are common and not necessarily proof of wrongdoing.
- Government contracting investigation: The U.S. Department of the Treasury has announced its own department-wide investigation into potential fraud and waste in federal contracting programs, which was initiated under Bessent’s direction.
- Tax issues: The New York Times reported that Bessent used a loophole to avoid paying about $910,000 in Medicare taxes on money from his hedge fund, a loophole that the IRS has tried to stop.