Before Giving Billions to Jared Kushner, Saudi Investment Fund Had Big Doubts

[Uncle Joe]

(snip)

Those objections included: “the inexperience of the Affinity Fund management”; the possibility that the kingdom would be responsible for “the bulk of the investment and risk”; due diligence on the fledgling firm’s operations that found them “unsatisfactory in all aspects”; a proposed asset management fee that “seems excessive”; and “public relations risks” from Mr. Kushner’s prior role as a senior adviser to his father-in-law, former President Donald J. Trump, according to minutes of the panel’s meeting last June 30.

But days later the full board of the $620 billion Public Investment Fund — led by Crown Prince Mohammed bin Salman, Saudi Arabia’s de facto ruler and a beneficiary of Mr. Kushner’s support when he worked as a White House adviser — overruled the panel.

(snip)

Mr. Kushner played a leading role inside the Trump administration defending Crown Prince Mohammed after U.S. intelligence agencies concluded that he had approved the 2018 killing and dismemberment of Jamal Khashoggi, a Saudi columnist for The Washington Post and resident of Virginia who had criticized the kingdom’s rulers.

The Saudi fund agreed to invest twice as much and on more generous terms with Mr. Kushner than it did at about the same time with former Treasury Secretary Steven Mnuchin — who was also starting a new fund — even though Mr. Mnuchin had a record as a successful investor before entering government, the documents show. The amount of the investment in his firm, Liberty Strategic Capital — $1 billion — has not been previously disclosed.

(snip)

https://www.nytimes.com/2022/04/10/us/jared-kushner-saudi-investment-fund.html

[gab13by13]

1. Rachel says it's a Saudi investment fund,

for when Trump takes over again.

[Uncle Joe]

2. I agree with Rachel,

that and payback for Trump lobbying on behalf of the journalist torturing, murdering and dissecting Crown Prince of Saudi Arabia.

[RussBLib]

3. how can it be legal?

just a nest of corrupt vipers

[lagomorph777]

4. Their investment was safe when they went to Jared.

Not their money, of course; he's probably blown it all. But they got what they paid for: protection from consequences for murdering Khashoggi.