Pentagon denies Hegseth’s broker sought defence investment before Iran war
By John Power
Published on March 31, 2026.
The US Department of Defense has demanded a retraction of a report alleging that a broker for defence chief Pete Hegseth, who was not yet available for purchase, sought a multimillion-dollar investment in a defence-related fund in the weeks leading up to the Iran war. The Financial Times reported that the broker for Hegsetsh, Morgan Stanley, contacted BlackRock, but the investment was ultimately unsuccessful. Pentagon spokesman Sean Parnell denied the allegations, calling them "false and fabricated". The report comes amid scrutiny of well-timed trades in financial and prediction markets, which have fueled speculation that figures with insider knowledge may be profiting off of US President Donald Trump's war plans.
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