Congress is investigating Dominari Securities, a brokerage associated with Eric Trump and Donald Trump Jr.
Senators in the US are investigating numerous Wall Street underwriters, including Dominari Securities, whose parent business has ties to the Trump family. They are looking into how these companies helped introduce Chinese companies to US stock markets that were later linked to schemes to manipulate stock prices, which raises concerns about potential regulatory violations and the integrity of the financial markets.
The House of Representatives Select Committee on China, led by Rep. John Moolenaar and with Rep. Ro Khanna as the ranking member, sent letters to three US companies—D. Boral Capital, Dominari Securities, and Revere Securities—on Monday. The letters asked the companies for information about Chinese initial public offerings (IPOs) that they helped underwrite.
These scam centers cheat American families by using Chinese shell companies listed on American exchanges to carry out coordinated “ramp-and-dump” stock manipulation schemes, which your company seems to help with.
Chinese companies allegedly used US IPOs to manipulate their share values through coordinated trading and promotion. Then, before the stocks plummeted, they sold shares to ordinary investors. In certain situations, dozens of accounts allegedly placed buy orders that were almost the same above the IPO price, which momentarily raised valuations before insiders liquidated their shares.
Alleged Chinese stock schemes cost investors billions
The lawmakers said that estimates show that these kinds of schemes have taken over $16 billion from US investors since 2023. They also talked about FBI statistics that showed a 300% rise in complaints about Chinese stock manipulation cases.
The investigation wants the underwriters to send them proof, such as emails, trade data, funding sources, and due diligence policies for Chinese IPOs.
The committee said it is looking into whether US financial middlemen may have unknowingly helped Chinese issuers set up schemes to manipulate the market. The committee has given the companies until Friday to submit the requested papers.
Dominari’s Trump family links draw attention
Dominari is one of the broking firms that the investigation is looking into. It has ties to the Trump family. It is in New York’s Trump Tower and is held by Dominari Holdings, where Eric Trump, the son of US President Donald Trump, is the fourth-largest shareholder. In February 2025, Eric Trump and Donald Trump Jr. became members of the company’s advisory board.
Last year, Dominari helped Thumzup, a public firm that adopted a Bitcoin (BTC) $70,453 treasury strategy, raise money. Donald Trump Jr. also invested millions of dollars in the company.