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Botany

(77,876 posts)
6. And Kushner and Mnuchin just got $2 billion and $1 billion "investments" into their new businesses
Mon May 23, 2022, 09:27 AM
May 2022

Why Saudi money for Kushner, Mnuchin is drawing fresh scrutiny Before leaving office, Jared Kushner and Steven Mnuchin engaged in official Middle Eastern travel to countries they would soon hit up for private cash.

https://images.axios.com/AUCbUR2TjBxcLbRFZUk99uQ2aFM=/0x0:2863x1610/1366x768/2022/04/11/1649638584025.jpg

In the final months of the Trump administration, then-Treasury Secretary Steven Mnuchin and presidential son-in-law Jared Kushner spent quite a bit of time in the Middle East, ostensibly in support of a program called the Abraham Fund, which would finance projects in the region. On the surface, this wouldn’t seem especially notable.

But just below the surface, there’s a lot more to this.

As The New York Times reported in a detailed new piece, the Abraham Fund proved to be little more than a mirage: After Donald Trump left the White House, the fund ceased to be. But wouldn’t you know it, after the Abraham Fund evaporated, Mnuchin and Kushner also launched private funds that sought to raise money from many of the same folks — most notably in Saudi Arabia.

In fact, the duo didn’t just seek the money, they received it: Soon after leaving office, Mnuchin’s private venture received a $1 billion commitment from the main Saudi sovereign wealth fund, on top of other investments from other Middle Eastern countries. Kushner secured a $2 billion investment with the Saudis — even after those responsible for helping oversee the Saudi sovereign wealth fund concluded that such a commitment was a very bad idea.

https://www.msnbc.com/rachel-maddow-show/maddowblog/saudi-money-kushner-mnuchin-drawing-fresh-scrutiny-rcna30056

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