NYT Review Traces Howard Lutnick Across 818 Corporate Entities
Updated
Updated · The New York Times · May 28
NYT Review Traces Howard Lutnick Across 818 Corporate Entities
5 articles · Updated · The New York Times · May 28
The New York Times said its review of 818 entities listed in Howard Lutnick’s financial disclosure found a sprawling network tied mostly to Cantor Fitzgerald and far beyond a traditional bond-broker business.
Thousands of pages of records and interviews with former employees and associates showed the companies stretching into real estate, start-ups and gambling, underscoring how Lutnick expanded Cantor into riskier bets.
The review also found one firm invested alongside Jeffrey Epstein in a failed advertising-technology venture, while another backed an “entertainment stock market” for trading virtual shares of movies and celebrities.
Separate shell companies were used in Lutnick’s personal dealings, including a 2013 purchase of a vintage Jaguar XKSS and five entities that bought properties in New York, Washington and Florida.
The findings add scrutiny to Lutnick’s first year as commerce secretary, where his aggressive dealmaking style has already made him an unusually forceful figure in the role.
Given his personal use of shell companies, how will the Commerce Secretary truly enforce corporate transparency laws?
Can a Wall Street deal-maker effectively stop advanced U.S. technology from reaching China's military?