Hedge fund billionaire flew top Mnuchin aide on private jet to Palm Beach

Rich Delmar, counsel to the Treasury Department's inspector general, said they have launched an inquiry into Miller's trip on the private jet following the Washington Post report.

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"There has to be a legitimate relationship," in order for a trip like this to be allowed by ethics officials, said Walter Shaub, who recently stepped down as director of the U.S. Office of Government Ethics. "You are looking to see if this is being done because of the job or because of a friendship."

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A number of senior Trump administration officials are facing scrutiny because of their use of government and charter planes for travel, sparking several inspector general investigations. On Friday, Health and Human Services Secretary Tom Price resigned after revelations that he had taken private jets at taxpayer expense on a number of trips. Also on Friday, the White House gave Chief of Staff John F. Kelly new authority to sign off on government travel for government-owned, rented, leased or chartered aircraft.

Peltz is a major political contributor, giving more than $220,000 in donations for the 2016 election cycle, the majority of which went to Republicans, according to the Center for Responsive Politics.

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Hedge funds often have interest in the Treasury Department's operations, as Treasury has a unique influence over the White House's decisions related to financial markets, debt decisions and new policy proposals.

Mnuchin's air travel is already under scrutiny by the Treasury Department inspector general. Mnuchin and his wife flew on a government plane to Kentucky in August, a trip that officials would normally take on a commercial airline.