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President Trump’s nominee for Army secretary, Vincent Viola, withdrew his name for the position late Friday.

Viola said he backed out because he was not able to navigate Defense Department rules regarding his family businesses. The nominee is the first Trump nominee back out after being named.

“I appreciate the confidence President Trump showed in me,” Viola said.

“I offer my continued support for President Trump and his administration, and look forward to redoubling my efforts to support the Army and its veterans as private citizens,” he told the Military Times.

Trump nominated Viola to the post in mid-December. Since then, the founder and executive chairman of Virtu Financial and owner of the NHL’s Florida Panthers said he had tried to divest, but was unable to do so.

Viola graduated from West Point in 1977 and went on to serve in the 101st Airborne Division. He graduated from New York Law School in 1983. He founded the Combating Terrorism Center at West Point following the September 11th terrorist attacks.

Viola had been accused last summer of punching a concessions worker at a racehorse auction in upstate New York.

Police reports state an employee at the Sarasota Springs, N.Y., establishment said Viola, a billionaire Wall Street trader, gave him a “swollen bloody lip” on Aug. 8. Viola told law enforcement that the man he punched had pushed his wife, prompting the former Army officer to respond physically. The unidentified victim said he never pushed Viola’s wife.

Saratoga Springs Police Chief Greg Veitch said officers “determined that both incidents involved actions that could have been charged as harassment, a violation level offense in New York State.” However, charges were never brought on either allegation.

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Robert Speer, the acting Army secretary, will continue to perform the duties of the office in the interim. Trump has nominated Heather Wilson as Air Force secretary and Philip Bilden to oversee the Navy, though confirmation hearings have yet to take place.

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