Democratic lawmakers on Tuesday asked regulators to investigate Carl Icahn, months after ethics experts warned the billionaire investor would likely face scrutiny over his role as a White House advisor.

That prediction appeared to come to pass as eight Democratic senators called on the Securities and Exchange Commission, the Commodity Futures Trading Commission and the Environmental Protection Agency to probe whether Icahn engaged in insider trading, market manipulation or other violations. . . .

Richard Painter, a former chief ethics lawyer for President George W. Bush and longtime critic of Trump, told CNBC in December that it would be a “huge conflict” if Icahn advised Trump on the ethanol mandate. In an email to CNBC after the hiring, Painter noted that the Trump transition team said Icahn “is not a government employee (they may be wrong on this if he acts like one) so it looks like they are saying the rules won’t apply to him.”

The eight senators echoed those comments on Tuesday in their letter to the three agencies.