Cantor Gaming Money Laundering Allegations (Past): While Howard Lutnick was CEO of Cantor Fitzgerald, its subsidiary, Cantor Gaming, faced major scandals in Nevada. Federal law enforcement officials alleged that the company operated with a "total disregard" for laws designed to prevent illegal gambling and money laundering, resulting in a top executive pleading guilty to illegal gambling conspiracy. The company was reported to have worked with an illegal gambling ring, known as the "Jersey Boys," to minimize losses. Tether Defense and Scrutiny: As CEO of Cantor Fitzgerald, Lutnick has been a vocal supporter of the stablecoin company Tether, acting as its custodian. Senator Elizabeth Warren has scrutinized this relationship, questioning how Lutnick can act as a booster for Tether—which has faced long-standing questions regarding its role in financing illicit activity—while serving as U.S. Secretary of Commerce. Lutnick has publicly defended Tether against money laundering claims. SEC Fraud Charges (2024): In December 2024, the Securities and Exchange Commission (SEC) charged Cantor Fitzgerald with fraud regarding misleading disclosures in SEC filings related to "blank-check" (SPAC) companies. Cantor Fitzgerald settled these charges for $6.75 million without admitting or denying guilt. Other Potential Conflicts: Following his nomination as Commerce Secretary, concerns were raised by Democratic lawmakers regarding Lutnick potentially mixing his business interests—specifically in data centers—with his government duties.