Co-founder of Skybridge Capital and former White House Communications Director Antonio Scaramucci alleged on Friday that the president donald trumpThe US administration orchestrated a massive insider trading scheme linked to geopolitical announcements that generated up to $400 million in illicit profits.
In a recent video statement on X, Scaramucci detailed highly suspicious trading activity that occurred just an hour before Trump announced a five-day moratorium on attacks on Iran.
According to Scaramucci, insiders bought $1.5 billion in S&P E-mini notional futures contracts. This was four to six times the normal market volume. This took place alongside a simultaneous purchase of $192 million in crude oil futures.
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“They made between $300 and $400 million from those operations,” Scaramucci said. He further alleged that Trump fabricated a phone call with an Iranian official to justify the moratorium affecting the market, and noted that Iranian authorities denied that the conversation took place.
“These people are making hundreds and hundreds of millions of dollars trading on information that only exists within the most powerful office in the world,” Scaramucci said. “This is no longer politics. It is a financial operation that comes out of the White House.”
The White House did not immediately respond to Benzinga’s request for comment.
Let me explain what happened an hour before Trump announced the five-day moratorium on attacks on Iran.
$1.5 billion in S&P E-mini notional futures contracts. Four to six times normal activity.
One hour before the announcement.
At the same time, $192 million worth of crude oil… pic.twitter.com/wkQ0PNRvtV
-Anthony Scaramucci (@Scaramucci) April 2, 2026
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Scaramucci’s allegations compound a growing list of market anomalies surrounding the administration’s foreign policy. In early March, SPY call options soared an unprecedented 24,650% in about 80 minutes after Trump unexpectedly declared the conflict with Iran “very complete.”
Additionally, the Pentagon recently faced intense scrutiny following reports that an intermediary for the Secretary of Defense Pete Hegseth attempted to move millions into defense ETFs just weeks before the United States launched military operations. The Pentagon vehemently denied the report, calling it “made up.”