2026年7月29日 美国东部时间晚上7:00 / 福克斯新闻频道
小唐纳德·特朗普与埃里克·特朗普对一家有望从美国政府资助的矿业交易中获利的公司进行了被动投资
作者：汉娜·布伦南、阿曼达·马西亚斯、彼得·达布罗斯卡、安德鲁·默里 福克斯新闻
特朗普兄弟在哈萨克斯坦的钨矿交易引发质疑，但缺乏不法行为证据：证券律师
证券与投资欺诈律师安德鲁·斯托尔特曼表示，特朗普兄弟的这笔投资令人侧目。
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由总统唐纳德·特朗普的长子小唐纳德·特朗普和埃里克·特朗普领导的特朗普集团，对一家建筑公司进行了颇具争议的投资，而该公司如今正从一笔由美国政府资助的稀土矿物交易中获益。
尽管这笔交易引发了质疑，但一名证券律师表示，几乎不可能找到不法行为的证据，并承认批评者面临着“举证难题”。
“问题在于特朗普总统是否会知晓儿子们对这家公司的投资，我认为答案是‘不会’，除非儿子们主动告知他们，”总部位于芝加哥的证券与投资欺诈律师安德鲁·斯托尔特曼告诉福克斯新闻数字频道。
“听着，他们是私人投资者，”他继续说道。“他们不是政府雇员。因此，只要他们是对一家公司或实体进行被动投资，实际上就没有披露这些信息的义务。”
2025年7月27日，在苏格兰特恩伯里的特朗普特恩伯里高尔夫俱乐部举行会议后，美国总统唐纳德·特朗普与欧盟委员会主席乌尔苏拉·冯德莱恩宣布达成美欧贸易协议，小唐纳德·特朗普和埃里克·特朗普在一旁观看。美国总统唐纳德·特朗普于7月25日至29日对苏格兰进行短暂访问，期间参观了他的特朗普特恩伯里高尔夫球场以及阿伯丁郡的特朗普国际高尔夫林克斯。（安德鲁·哈尼克/盖蒂图片社）
资源丰富的国家在美中关键矿产竞赛中赞扬美关系
这场争议源于哈萨克斯坦的一笔钨矿开采交易，该交易主要涉及美国投资公司Cove Capital及其矿业子公司Cove Kaz Capital Group。2023年至2024年间，Cove Capital与哈萨克斯坦政府谈判，以获得该国国有钨矿矿床70%的股份。
钨是一种稀土矿物，对制造包括导弹和战斗机在内的军事装备至关重要。全球该矿物的大部分供应掌握在中国和俄罗斯手中。特朗普自重新就职以来，已将确保该资源的长期供应列为国家安全战略优先事项。
2025年8月，通过位于纽约特朗普大厦的多米纳里证券（Dominari Securities）设立的投资工具，特朗普兄弟收购了建筑公司Skyline Builders的少数股权，该公司当时在纳斯达克上市，股票代码为SKBL。
2025年7月22日，美国总统唐纳德·特朗普在马里兰州安德鲁斯联合基地下飞机后向记者挥手示意。（凯文·迪奇/盖蒂图片社）
霍华德·卢特尼克在预算听证会上驳斥民主党有关杰弗里·爱泼斯坦的提问
同年6月，由商务部长霍华德·卢特尼克创立的Cantor Fitzgerald公司，向一家名为ASP Isotopes的公司提供了4680万美元的贷款担保。ASP Isotopes由商人保罗·曼恩所有。卢特尼克的公司如今由他的儿子布兰登和凯尔·卢特尼克掌控，他们在父亲就任政府官员后接管了公司。
在进行贷款担保的大致同一时间，特朗普兄弟投资了Skyline Builders——ASP Isotopes的全资子公司，该子公司获得了Skyline Builders的投票控制权。
2025年11月6日，哈萨克斯坦总统卡西姆-若马尔特·托卡耶夫与特朗普会面，并宣布这个中亚国家已将钨矿开采合同授予美国。为国际项目提供政府融资的美国进出口银行（EXIM）和美国国际开发金融公司（DFC）签署了总额高达16亿美元的融资意向函，用于该交易。Cove Kaz Capital被选为负责大部分采矿业务的公司。
这笔交易尚未正式签署，目前正处于美国证券交易委员会（SEC）的标准审查流程中。
今年早些时候，Skyline Builders与Cove Kaz Capital完成了反向并购，成立了一家名为Kaz Resources的公司，该公司如今在纳斯达克上市，股票代码为KAZR。Skyline Builders通过2000万美元的投资，持有Kaz Resources 20%的股份。
埃里克·特朗普计划起诉珍·普萨基和MS NOW，指控其就他加入父亲的中国之行散布“公然谎言”
批评人士尽管没有证据，但仍暗示特朗普兄弟在预先知晓哈萨克斯坦将把这笔15亿美元的钨矿合同授予美国而非其他国家的情况下，计划投资Skyline Builders，进而让Kaz Resources拿下这份合同。特朗普集团强烈否认这一说法，并表示兄弟俩通过Dominari Securities对Skyline Builders的投资完全是被动的，是在钨矿交易达成之前做出的，且最初并不知道哈萨克斯坦会将采矿合同授予美国。
即便不存在不法行为，斯托尔特曼表示，不当行为的表象也可能带来麻烦。
“关键问题归根结底是特朗普知道什么、何时知道的——而且看，这一情况的观感很糟糕，”他说。“总统的儿子们投资了一家最终获得巨额合同的公司，这当然会引人侧目，引发质疑，也显然解释了为何此事引发了轩然大波。但很多时候，这更多是雷声大雨点小，是小题大做，正如我常说的，是茶壶里的风暴。”
在讨论潜在后果时，斯托尔特曼表示，对这笔交易感到狂热的左翼政界人士将难以找到不法行为的证据，因为除非儿子们主动告知，否则特朗普不可能知晓他们的投资。
“但这就是举证难题所在，”斯托尔特曼说。
“进行猜测、提出理论、展开讨论都很有趣，但我认为作为被动投资者，并没有披露信息的义务，而特朗普总统肯定会说，‘我并不清楚儿子们做的所有事情’。”
至于卢特尼克兄弟，斯托尔特曼指出，Cantor Fitzgerald在帮助为曼恩的公司融资时，有望从承销和咨询费用中获利，而曼恩的公司如今持有Kaz Resources的多数投票股权。
“你当然需要一家华尔街经纪公司或银行来为部分交易提供资金，但更重要的是进行承销，”斯托尔特曼说。“我们有反向并购、合并，还有多家空壳公司参与其中。当你这么做时，你需要一家银行，一家经纪公司。而这正是Cantor Fitzgerald介入的地方。”
霍华德·卢特尼克在共同担任特朗普过渡团队联合主席后，于2025年加入特朗普政府担任商务部长。（亚伦·施瓦茨/CNP/彭博 via 盖蒂图片社）
在政治影响方面，斯托尔特曼警告称，如果民主党在11月重新掌控参众两院，特朗普兄弟可能会因任何被认为可以审查的商业交易，面临总统政治对手的压力。
“你会看到铺天盖地的传票，试图获取特朗普兄弟、特朗普总统以及所有与这笔交易相关人员的通话记录、通讯记录和电子邮件，”他预测。“那么，这种情况是否存在潜在法律责任？是的，存在。不过我认为特朗普总统不会有。”
“你知道，显然，至少从所有表象来看，他的儿子们似乎都是被动投资者，而儿子们会说，‘听着，我们身价数亿美元，在数十甚至数百家不同的公司都有被动投资。这完全无可指摘’，但这确实引发了一些质疑。”
白宫重申，总统并不直接管理他的投资资产，而是由独立的第三方金融机构管理。
“这是民主党十年来一直针对特朗普总统、他的家人和他的政府炒作的陈词滥调，”白宫发言人安娜·凯利说。“特朗普总统的所作所为始终符合美国民众的最佳利益——这也是尽管假新闻媒体多年来对他和他的企业散布谎言和虚假指控，民众仍以压倒性优势再次选举他担任这一职务的原因。不存在利益冲突。”
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Cantor Fitzgerald强调，该公司与Kaz Resources或Skyline Builders没有任何互动。
“Cantor是为满足关键矿产日益增长的需求而筹集资金的公司的天然合作伙伴，”一位发言人表示。“Cantor的参与仅限于支持公开市场的融资，不包括与现任或往届政府进行谈判的参与。”
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Trump family profits from blockbuster deal in Central Asia despite backlash due to ‘proof problem’: expert
July 29, 2026 7:00pm EDT / Fox News
Donald Trump Jr. and Eric Trump made a passive investment in a company that stands to benefit from a government mining deal
By Hannah Brennan , Amanda Macias , Peter D’Abrosca , Andrew Murray Fox News
Trump brothers’ Kazakhstan tungsten deal raises suspicions, but lacks proof of wrongdoing: securities lawyer
Securities and investment fraud attorney Andrew Stoltmann says an investment by the Trump brothers raises eyebrows.
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After the Trump Organization, led by President Donald Trump’s eldest sons Donald Trump Jr. and Eric Trump, made a controversial investment in a construction company that now stands to profit from a rare earth minerals deal funded by the U.S. government.
While the deal raises suspicions, one securities attorney says evidence of wrongdoing is likely impossible to find and acknowledged that critics have a “proof problem.”
“Well, the question is whether President Trump would have known about his sons’ investments in this company, and I think the answer would be ‘no’ unless the sons told them,” Andrew Stoltmann, a Chicago-based securities and investment fraud attorney, told Fox News Digital.
“Look, they are private investors,” he continued. “They are not government employees. So, to the extent they make a passive investment in a company or an entity, there are no real duties to disclose this information.”
Donald Trump Jr. and Eric Trump U.S. look on as President Donald Trump and President of the European Commission Ursula von der Leyen announce a US-EU trade deal after a meeting at Trump Turnberry golf club on July 27, 2025 in Turnberry, Scotland. U.S. President Donald Trump is visiting his Trump Turnberry golf course, as well as Trump International Golf Links in Aberdeenshire, during a brief visit to Scotland from July 25 to 29.(Andrew Harnik/Getty Images)
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The controversy stems from a tungsten mining deal in Kazakhstan, which primarily involves U.S.-based investment company Cove Capital, and the company’s mining affiliate, Cove Kaz Capital Group. Between 2023 and 2024, Cove Capital negotiated with the Kazakh government to take a 70% share in the country’s state-owned tungsten mining deposits.
Tungsten is a rare earth mineral that is critical to building military equipment, including missiles and fighter jets. The lion’s share of the earth’s supply of the mineral is owned by China and Russia. Trump, since returning to office, has made it a strategic national security priority to secure a long-term supply of the resource.
In August 2025, through an investment vehicle created by Dominari Securities, which is housed in Trump Tower in New York, the Trump brothers purchased a minority interest in a construction company Skyline Builders, which at the time was publicly traded on the NASDAQ under the ticker SKBL.
U.S. President Donald Trump motions to reporters after getting off Air Force One on July 22, 2026 at Joint Base Andrews, Maryland.(Kevin Dietsch/Getty Images)
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In June of that year, Cantor Fitzgerald, founded by Commerce Secretary Howard Lutnick, underwrote a $46.8 million loan to a company called ASP Isotopes. ASP Isotopes is owned by businessman Paul Mann. Lutnick’s company is now controlled by his sons, Brandon and Kyle Lutnick, who took over when their father became a government official.
At about the time of underwriting, the Trump brothers were investing in Skyline Builders, a wholly-owned ASP Isotopes subsidiary that acquired voting control of Skyline Builders.
On Nov. 6, 2025, Kazakhstan President Kassym-Jomart Tokayev, met with Trump and announced that the Central Asian country had awarded a tungsten mining contract to the United States. The Export-Import Bank of the United States (EXIM) and the U.S. International Development Finance Corporation (DFC), which provide government financing for international projects, penned letters of interest totaling up to $1.6 billion in financing for the deal. Cove Kaz Capital was selected as the firm to do the majority of the mining.
The deal has not officially been inked, and is under a standard review process by the Securities and Exchange Commission (SEC).
the wilderness and steppe landscape in Issyk-Kul lake Region, a Jeti-Oguz and Tong district, Kyrgyzstan in Central Asia, with far view of town(Getty Images)
Earlier this spring, Skyline Builders completed a reverse merger with Cove Kaz Capital, creating a company called Kaz Resources, which is now listed on the NASDAQ as KAZR. Skyline Builders owns 20% of Kaz Resources after a $20 million investment.
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Critics have suggested — albeit without evidence — that the Trump brothers schemed to invest in Skyline Builders with foreknowledge that Kazakhstan would opt to award the billion-and-a-half-dollar tungsten deal to the United States, instead of other countries, and in turn Kaz Resources would secure the contract. The Trump organization vehemently denies that characterization, and says the investment made by the brothers through Dominari Securities in Skyline Builders was completely passive, made before the tungsten deal was done and made without the knowledge that Kazakhstan would award the mining contract to the United States in the first place.
Even without wrongdoing, Stoltmann said the appearance of impropriety could cause headaches.
“The $64,000 question is pretty much what Trump knew and when he knew it — and look, the optics are bad,” he said. “You have the president’s sons investing in a company that is eventually awarded a very large contract, and so it certainly raises eyebrows, it raises suspicions, and it’s certainly clear why this has caused an uproar. But a lot of times, this is more thunder, this is more noise, a tempest in a teapot, as I like to say.”
An aerial drone photo shows grassland in the Akmola region in northern Kazakhstan on Aug. 17, 2024.(Xinhua News Agency via Getty Images)
In discussing potential ramifications, Stoltmann said members of the political left who are frenzied over the deal will have trouble finding proof of wrongdoing, as Trump would have no way of knowing about his sons’ investment unless they told him about it.
“But this is where the proof problem comes in,” said Stoltmann.
“It’s fun to have conjecture. It’s fun to theorize, and it’s fun to discuss this, but I don’t think there’s any duty of disclosure when you are a passive Investor in a company, and that’s where President Trump would most certainly say, ‘I don’t know all the things my sons do.’”
As for the Lutnick brothers, Stoltmann noted that Cantor Fitzgerald stood to financially benefit from underwriting and advisory fees when they helped finance the loan for Mann, whose company now owns a majority voting stake in Kaz Resources.
“You most certainly need a Wall Street brokerage firm or bank to help finance some of this, but more importantly, to do the underwriting,” Stoltmann said. “We have reverse mergers, we have mergers and we have multiple shell companies coming into the equation. When you do that, you need a bank, you need a brokerage firm. And that’s where Cantor Fitzgerald comes in.”
Howard Lutnick joined the Trump administration as Commerce Secretary in 2025 after co-chairing Trump’s transition team.(Aaron Schwartz/CNP/Bloomberg via Getty Images)
In the way of political ramifications, Stoltmann warned that if Democrats regain control of the House and Senate in November, the Trump brothers will likely face heat from the president’s political opponents for any business deals that they think can come under scrutiny.
“You’re going see a tsunami of subpoenas trying to get the phone records, the communication records, the emails of the Trump boys and President Trump and everybody associated with this deal,” he predicted. “So look, is there potential legal liability this situation? Yes, there is. I don’t think there is for President Trump, though.”
“You know, clearly, at least by all appearances, it seems like his sons were passive investors, and the sons would say, ‘look, we’re worth a couple hundred million dollars. We have passive investments in dozens and dozens, if not hundreds of different companies. This is all pure than Caesar’s wife,’ but it certainly raises some suspicions.”
The White House reiterated that the president does not directly manage his investment holdings, and that they are instead managed by independent third-party financial institutions.
The $16.5 billion nuclear plant project was signed during high-level bilateral talks in Astana between Putin and Kazakh President Kassym-Jomart Tokayev.(Getty)
“This is the same, tired narrative that Democrats have pushed against President Trump, his family, and his administration for a decade,” White House spokesperson Anna Kelly said. “President Trump only acts in the best interests of the American public – which is why they overwhelmingly re-elected him to this office, despite years of lies and false accusations against him and his businesses from the fake news media. There are no conflicts of interest.”
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Cantor Fitzgerald emphasized that it had no interaction at all with Kaz Resources or Skyline Builders.
“Cantor is a natural partner for companies raising capital to meet growing demand for critical minerals, a spokesperson said. “Cantor’s involvement is limited to supporting capital raises in the public markets and does not include participation in negotiations with the current or any prior administration.”
The Trump Organization and Commerce Department did not return Fox News Digital’s requests for comment.
Hannah is a Production Assistant for the Politics team at Fox News Digital.
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