Warren calls for investigation into Kushner who secured $2 billion investment from Saudi crown prince

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Senator Elizabeth Warren said the Justice Department should “carefully consider” whether Jared Kushner violated criminal laws by accepting a $2 billion investment from Saudi Crown Prince Mohammed bin Salman.

Six months after Kushner left the White House, his new private equity firm Affinity Partners has secured a $2 billion investment from Saudi Arabia’s sovereign wealth fund, according to a New York Times report.

Speaking to Warren, Pod Save America host and Obama-era National Security Council spokesman Tommy Vietor called the deal “one of the most incredibly corrupt things I’ve ever seen.” have heard”.

He asked the Massachusetts Democrat if the Department of Justice (DOJ) or Congress should look into the matter.

‘I think there’s a question that the Department of Justice should be looking at very carefully to see if this matches any of our current ones – I mean it’s kind of a shaggy dog’s version of the way don’t you come to what’s going on here – doesn’t it violate any of our criminal laws? And I would like to take a close look at that,” Warren said.

“I think this is a time when Congress needs to do a lot more against corruption,” she added.

Kushner, son-in-law of Donald Trump and a former senior White House adviser, made the massive deal despite being flagged for his “inexperience” and “public relations risks” by a panel of experts in economy that examine the investments of the Saudi fund.

While in the White House, Kushner was known for his close personal relationship with de facto Saudi leader Mohammed bin-Salman and for helping him secure a $110 billion arms deal. He was one of the administration’s staunchest defenders of the Saudi royal family amid international outrage over the murder of American journalist and MBS critic Jamal Khashoggi.

He was also one of the main architects of the Abraham Accords, a landmark peace agreement between some Arab states and Israel that MBS supported.

The trade deal raises ethical issues mentioned in Sunday’s report over whether MBS seeks to repay Kushner for his ally in the White House or possibly preemptively seek influence if Trump shows up and wins at new in 2024.

Speaking to Warren, Pod Save America host and Obama-era National Security Council spokesman Tommy Vietor called the deal a

Speaking to Warren, Pod Save America host and Obama-era National Security Council spokesman Tommy Vietor called the deal “one of the most incredibly corrupt things I’ve ever seen.” have heard”.

'I think there's a question that the Department of Justice should be looking at very carefully to see if this matches any of our current ones - I mean it's kind of a shaggy dog's version of the way don't you come to what's going on here – doesn't it violate any of our criminal laws?  And I would like to carefully consider that,' Senator Elizabeth Warren said, above.

‘I think there’s a question that the Department of Justice should be looking at very carefully to see if this matches any of our current ones – I mean it’s kind of a shaggy dog’s version of the way don’t you come to what’s going on here – doesn’t it violate any of our criminal laws? And I would like to carefully consider that,’ Senator Elizabeth Warren said, above.

But when it came to his experience leading a new private equity firm, the Saudi panel reportedly found Kushner’s Affinity fund to be “unsatisfactory in every respect”.

The panel also expressed serious reservations about Kushner’s limited areas of expertise and lack of domestic investors.

Despite this, however, the $620 billion Public Investment Fund (PIF) reportedly led by MBS approved the $2 billion just days after business experts raised concerns during a a meeting on June 30.

That’s double the amount they invested in Trump Treasury Secretary Steve Mnuchin’s business, despite Mnuchin’s vast experience in the financial industry.

The Saudis’ PIF also reportedly got at least 28% ownership of Kushner’s company as part of the deal.

A letter obtained by The Times in July of the same year shows that the staff of the fund managed by MBS maintains “this investment aims to establish a strategic relationship with Affinity Partners Fund and its founder, Jared Kushner”.

As for the panel’s concerns about why it was investing so much with Kushner when he had little previous experience to demonstrate, the staff reportedly said any cuts “could negatively or fundamentally affect the framework of the agreed strategic and business relationship.” .

Fund staff also said the investment was worth the risk because of the ability to “capitalize on the capabilities of Affinity’s founders’ deep understanding of different government policies and geopolitical systems.”

The trade deal raises ethical issues mentioned in Sunday’s report about whether MBS seeks to repay Kushner for his ally in the White House or perhaps preemptively seek influence if Trump shows up and wins at new in 2024.

Jared Kushner, son-in-law of Donald Trump and a former senior White House adviser, made the massive deal despite being flagged for his

Jared Kushner, Donald Trump’s son-in-law and a former senior White House adviser, made the massive deal despite being flagged for his ‘inexperience’ and ‘public relations risks’ by a panel of economics experts who examine the investments of the Saudi fund.

The report notes that Kushner has virtually no experience in private equity, having primarily worked for his father’s real estate company before joining the White House.

One of his biggest deals, the purchase of a $1.8 billion Manhattan office building in 2007, turned into a financial drain on his family’s real estate empire during the recession of 2008.

But he still could have struck a better deal with the Saudis than Trump Treasury Secretary Steve Mnuchin, a seasoned investor and former Goldman Sachs executive.

Mnuchin, who was also courting investment from the Saudi fund for his Liberty Strategic Capital, secured a $1 billion investment, according to the Times.

Mnuchin’s and Kushner’s companies have agreed to open offices in the Saudi capital of Riyadh and cut their standard asset management fees by 2%.

However, Mnuchin walked away with a 1% fee, while the documents reportedly show Kushner’s fee at 1.25%.

This would get Kushner’s firm annual profits of $25 million from Saudi investments alone, not including the additional cash earned.

Wealth fund staff hailed Mnuchin as having “significant access to understanding the future of the U.S. financial system” and “deep experience at some of the highest levels of the U.S. regulatory system,” according to the Times.

While in the White House, Kushner was known for his close personal relationship with de facto Saudi leader Mohammed bin-Salman, left, and for helping him secure a $110 billion arms deal.

While in the White House, Kushner was known for his close personal relationship with de facto Saudi leader Mohammed bin-Salman, left, and for helping him secure a $110 billion arms deal.

The Saudi PIF also owns shares in Uber and British soccer team Newcastle United Football Club.

According to public documents leaked on March 31 this year, Kushner’s Affinity fund manages $2.5 billion, most of which comes from foreign investors, mostly from Saudi Arabia.

When the Saudi Arabia-based selection committee flagged the lack of U.S.-based investors at its June 30 meeting, staff reportedly said Kushner “would like to avoid media attention at this time.”

“As a result, Affinity approached international institutional investors in a very low-key manner (particularly PIF as Affinity’s cornerstone LP) to anchor their inaugural fund launch,” they reportedly said.

Kushner was recently in the spotlight when he appeared for an interview with the House Select Committee investigating the Jan. 6 attack on the U.S. Capitol.

The former president’s son-in-law has been described as NPR by a panel legislator as “helpful” when he appeared before them via video link on March 31.

His testimony would have been essential to the investigation, as a close confidant of the former president and husband of his eldest daughter Ivanka Trump.

It is suggested that Kushner did not use any claims of privilege or plead the Fifth Amendment during his over six hour session.

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