Billionaire Trump Army Secretary nominee pulls out: Distancing from business ties is too difficult

Bloomberg News' White House Reporter Jennifer Jacobs reported Friday evening that President Donald Trump's nominee to be Army Secretary has pulled out of consideration.

Vincent Viola, billionaire founder of Virtu Financial, was forced into a situation where he had to divest from his interests and businesses. According to Jacobs, however, this proved to be too difficult for him.

If he was confirmed, there were concerns he would be prosecuted for violating laws against conflicts of interest.