A brokerage connected to the family of US President Donald Trump is facing questions from US lawmakers after helping several Chinese companies enter American stock markets.
The firm, Dominari Securities, is now part of a congressional review examining how certain foreign companies were listed in the United States and later became linked to suspicious stock trading patterns.
The review is being carried out by the House Select Committee on the Chinese Communist Party. Lawmakers asked three firms, such as Dominari Securities, D. Boral Capital, and Revere Securities, to provide records related to Chinese companies they helped bring to the public.
Committee leaders John Moolenaar and Ro Khanna asked the firms to submit documents that show how these listings were approved and marketed to investors.
The request includes internal communications, funding sources, trading records, and compliance procedures used during the IPO process.
The committee is reviewing cases where newly listed Chinese companies experienced sudden price spikes shortly after entering the US markets.
In a congressional letter, multiple trading accounts allegedly placed similar buy orders above the IPO price. These trades temporarily pushed share prices higher.
After the spike, insiders reportedly sold large amounts of stock. Prices later collapsed, leaving many retail investors with losses. This pattern is sometimes described by regulators as a coordinated stock manipulation strategy.
Regulatory filings with the U.S. Securities and Exchange Commission show that Dominari has participated in several corporate fundraising deals.
One example involves work connected to Thumzup Media Corporation, which later adopted a treasury strategy involving Bitcoin.
Dominari Securities operates under Dominari Holdings and runs its offices from Trump Tower in Manhattan.
Public filings show that Eric Trump holds a significant stake in the company. Earlier this year, both Eric Trump and Donald Trump Jr. joined the firm’s advisory board.
Because of these ties, the brokerage has drawn additional attention after lawmakers began examining the role of Wall Street underwriters involved in listing small Chinese companies in US markets.
Lawmakers say the scale of the problem has grown rapidly. According to figures cited in the congressional review, similar stock schemes may have drained roughly $16 billion from US investors since 2023.
The Federal Bureau of Investigation has also recorded a sharp increase in complaints linked to these cases. Reports connected to stock manipulation involving foreign issuers have increased by about 300%.
These trends have raised broader questions in Washington about how overseas companies gain access to US capital markets.
US lawmakers are reviewing Dominari Securities for helping Chinese firms list on US exchanges and whether those IPOs were later linked to coordinated stock manipulation.
Investigators found cases where coordinated buy orders pushed IPO prices higher, after which insiders allegedly sold shares, causing sharp price crashes.
The issue is currently under congressional investigation. Lawmakers are collecting documents, and the findings could determine whether regulators pursue legal action.
Officials worry some overseas firms use US listings to access capital while weak oversight allows manipulation that harms retail investors.
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