"The Wall Street Journal broke the story, reporting that on the eve of Trump's inauguration, the Emiratis purchased 49% of a Trump family cryptocurrency company for $500 million. It's difficult to see why anybody would pay so much for a fledgling company unless the point was to enrich the Trumps. Most of the money in effect went to the Trump family, but some found its way to the family of Steve Witkoff, a co-owner of the venture."
"Trump had selected Witkoff to become the United States' special envoy to the Middle East. The purchase was backed by Sheikh Tahnoon bin Zayed al-Nahyan, the UAE's national security adviser. Known as the spy sheikh, Sheikh Tahnoon is a brother of the president of the UAE. On top of that, an Emirati-backed fund deposited $2 billion into World Liberty, generating a revenue stream expected to amount to at least tens of millions of dollars a year in additional profits."
Donald Trump’s presidency generated unprecedented personal and family financial gains, far exceeding prior presidential scandals. Conservative estimates put documented Trump family gains at over $1.4 billion during a second term. On the eve of the second inauguration, Emirati investors paid $500 million for 49% of a Trump family cryptocurrency company, a transaction that largely enriched the Trump family and benefited co-owner Steve Witkoff’s relatives. The purchase was backed by Sheikh Tahnoon bin Zayed al-Nahyan, the UAE national security adviser. An Emirati-backed fund also deposited $2 billion into World Liberty, creating ongoing revenue. U.S. officials had resisted UAE requests for advanced chips over China-related security concerns.
Read at www.mercurynews.com
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