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After helping prince’s rise, Trump and Kushner benefit from Saudi funds
By Curt_Anderson
February 12, 2023 11:04 am
Category: President

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This seems exactly like the sort of presidential conflict of interest that the House Republicans claimed they were interested in investigating. --CA

(WaPo)In early 2021, as Donald Trump exited the White House, he and his son-in-law Jared Kushner faced unprecedented business challenges. Revenue at Trump’s properties had plummeted during his presidency, and the attack on the U.S. Capitol by his supporters made his brand even more polarizing. Kushner, whose last major business foray had left his family firm needing a $1.2 billion bailout, faced his own political fallout as a senior Trump aide.

But one ally moved quickly to the rescue.

The day after leaving the White House, Kushner created a company that he transformed months later into a private equity firm with $2 billion from a sovereign wealth fund chaired by Saudi Crown Prince Mohammed bin Salman. Kushner’s firm structured those funds in such a way that it did not have to disclose the source, according to previously unreported details of Securities and Exchange Commission forms reviewed by The Washington Post. His business used a commonly employed strategy that allows many equity firms to avoid transparency about funding sources, experts said.

A year after his presidency, Trump’s golf courses began hosting tournaments for the Saudi fund-backed LIV Golf. Separately, the former president’s family company, the Trump Organization, secured an agreement with a Saudi real estate company that plans to build a Trump hotel as part of a $4 billion golf resort in Oman.

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Comments on "After helping prince’s rise, Trump and Kushner benefit from Saudi funds":

  1. by Donna on February 12, 2023 11:52 am
    I can smell the swamp gas from here in Tucson.

  2. by Ponderer on February 12, 2023 12:06 pm

    The problem with the Trump Family Swamp is that so many overflowing cesspools have drained into it that it's more effluent than swamp.

    That's likely the source of the stench.

  3. by oldedude on February 12, 2023 7:58 pm
    Is this like pedojoe and pedojr and their links with China? There's a diamond that was brought in to the US via official (executive) correspondence satchel that hasn't been "accounted" for from pedojr. (FYSA, they have admitted to having the jewel in the US as a "Gift" from the CCP).

    What was that saying? He who is without sin, cast the first stone...

  4. by Donna on February 13, 2023 4:53 pm

    To answer your first question, no. Hunter Biden, who wasn't employed by the US government and never has been, admitted to having been gifted a 2.8 carat diamond from a Chinese businessman, and it happened after Joe was out of office.

  5. by oldedude on February 13, 2023 6:26 pm
    The Post did not find evidence that Joe Biden personally benefited from or knew details about the transactions with CEFC, which took place after he had left the vice presidency and before he announced his intentions to run for the White House in 2020.

    But the new documents — which include a signed copy of a $1 million legal retainer, emails related to the wire transfers, and $3.8 million in consulting fees that are confirmed in new bank records and agreements signed by Hunter Biden — illustrate the ways in which his family profited from relationships built over Joe Biden’s decades in public service.

  6. by Curt_Anderson on February 13, 2023 7:02 pm
    "profited from relationships" -- OD

    You seem to think that's a bad thing.

    Relationship is the grease of capitalism and business. I have been on many international business trips on behalf of a former employer. My boss explicitly wanted me to build and solidify relationships with our distributors.

    I never got a diamond, but I was was treated to sumptuous dinners and fun entertainments. I also received some very nice gifts. One of the nicest gifts was a fancy ceramic decorative dish from Turkey. It is displayed in our kitchen.

    People with famous and wealthy parents often exploit their family connection. It happens with the sons and daughters of politicians, movie actors, real estate moguls, etc. It's not illegal or unusual.

  7. by Ponderer on February 14, 2023 6:30 am

    Hunter got a diamond from a guy after his dad was out of office, huh? Wow. That is corruption on a monumental scale I tell ya. A whole diamond! Why suffer my heart in palpitations, I do declare!

    Jared Kushner's $2B Saudi Deal Resurfaces as GOP Targets Hunter Biden

    A $2 billion Saudi deal involving Jared Kushner, Donald Trump's son-in-law and former adviser, resurfaced on Thursday after the GOP announced a plan to investigate a possible connection between President Joe Biden and the alleged finances of his son, Hunter Biden.

    "I had no clue Hunter Biden was on the ballot. Jared was a WH employee and secured billions from the Saudis. I love the deflection," Twitter user @jeanvas5 said on Thursday.

    Another Twitter user wrote: "Hunter Biden: Does personal business deals as a private citizen. Jared Kushner: Got a $1 billion loan from the Saudis while working in the WH, and a $2 billion investment from the Saudis months after leaving the WH. GOP wants to investigate one of them. Guess which!"

    Kushner reportedly received a $2 billion investment from the Public Investment Fund led by Saudi Crown Prince Mohammed bin Salman after he left the White House last year. The House Oversight Committee said in June that it will investigate this deal.

    The money was invested in Kushner's newly established private equity firm Affinity Partners, according to The New York Times, which cited previously undisclosed documents from the fund's advisers, who had concerns about the deal.

    They were reportedly worried about Kushner's inexperience in fund management, "unsatisfactory" operations and "public relations risks," among other concerns, but the crown prince made the deal with Kushner's firm anyway.

    I tell ya, I am just loving what these GQP hearings are bringing to light.

  8. by oldedude on February 15, 2023 4:14 am
    I love it when people use Twit to provide "facts."

    Because if they agree with you, it MUST be true!

  9. by HatetheSwamp on February 15, 2023 4:31 am

    Yeah, OD. Twitter is perfect for illustrating wackiness. But, to imagine that what people tweet is fact oy freakin vey!

  10. by Curt_Anderson on February 15, 2023 3:37 pm
    Committee Chairman Rep. James Comer (R-KY) is not interested in pursuing this.

    (WaPo)A senior Democrat on Tuesday renewed a request to Jared Kushner for documents outlining how the former White House official received $2 billion from a Saudi investment fund, writing that Kushner had failed to respond to an earlier inquiry and raising new questions about whether he had “improperly traded” on his government work to benefit his financial interests.

    The letter from Rep. Jamie B. Raskin (Md.), the ranking Democrat on the House Oversight and Accountability Committee, cited a Washington Post story published online Saturday and other reports that he said raised disturbing questions about Kushner’s relationship with Saudi Crown Prince Mohammed bin Salman.

    Mohammed chairs a sovereign wealth fund that invested in Kushner’s private equity fund, known as Affinity Partners, soon after Kushner left a White House position that dealt regularly with Saudi affairs.

    More at link...

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