A Brand New Crime

Jared is next

Donald in Deep, credit: Getty (Pool)

There are days I find myself frustrated by the seeming invincibility of Donald and my extended family. Every scandal they’re involved in seems to slide by unnoticed leaving them unscathed. It’s sickening.

But the truth is that Donald, at least, is starting to face some consequences for his behavior. This is especially true in New York, largely thanks to the diligent work of people like Letitia James.

This has been a source of some solace for me.

Still, though, the corporate media very often downplays, ignores, or spins any news that is detrimental to Donald or his children (think, for example, how Hunter Biden has been covered as opposed to Ivanka Trump and Jared Kushner).

Truth Social’s parent company, Trump Media & Technology Group, has been in a free fall since it went public. It’s so bad that yesterday’s continued slide of the shares’ value erased all gains since the DJT stock began trading.

It’s at less than half of the $79 opening price on its March 26 debut, plummeting his net worth. The drop has led investors to short-sell the stock.

There isn’t much Donald can do at the moment, because he’s barred from selling or borrowing against his stock for six months.

Aside from gag orders and bank and IRS documents, there are relatively few laws that prevent Donald from lying through his teeth at every opportunity… except, however, the Securities and Exchange Commission’s very clear rules.

“SEC laws prohibit the use of ‘manipulative and deceptive devices’ to pump up stocks.”

As the Trump Media stocks tanked, Donald took to Truth Social to brag about the financial stability of his sub-par Twitter knock-off. He wrote that the company held over “$200 million in cash and zero debt” and that the platform’s follower count is “growing fast,” indicating that the “company's user base could be growing despite its issues raised by financial disclosures.”

The lawyer I spoke with, Joe Gallina, said Donald may have committed a crime. 

Further, per Newsweek, Stanford Law School Professor Michael Klausner said, “a false statement of ‘material’ information is securities fraud.”

Stanford Law School Professor Michael Klausner, credit Stanford

He explained that Donald’s statements could be a case of “pumping.” That would trigger the Securities Exchange Act of 1934, which “governs the statements made by company owners that could affect investor decisions.”

We can’t let up on this until the SEC agrees to look into Truth Social’s inner workings and verify whether or not Donald’s statements are fact-based. 

Truth Social is already on prosecutors’ radar for inside trading. Two individuals, Michael and Gerald Shvartsman, recently admitted to insider trading related to Truth Social. The Shvartsman brothers, who were early investors in Digital World Acquisition Corp (the company that merged with Trump Media & Technology Group), made over $22 million in illegal profits by selling on inside knowledge, which they admitted in court.

Another individual, Bruce Garelick, who was also privy to the non-public information, has pleaded not guilty to similar charges. He is set to stand trial later this month.

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Jared Kushner’s Investment Firm’s Foreign Funders Stun Experts

Today, a revelatory analysis found that 99% of Kushner’s investment capital has been traced back to foreign sources. This is not a common occurrence, and has raised questions about the propriety of such a financial setup.

Jared Kushner & Qatari Business Man Nasser Al-Khelaifi, Getty: by Jean Catuffe

This financial influx originates primarily from authoritarian governments, a fact that has led to concerns about potential conflicts of interest. His financial dealings have been described as “unprecedented” and “unusual” by economic analyst Steve Rattner.

In 2022, a mere six months after Kushner left the White House and four years after the brutal murder of journalist Jamal Khashoggi, Saudi Arabia’s sovereign wealth fund, at the direction of Saudi Crown Prince Mohammed bin Salman, invested $2 billion in Kushner’s newly established private equity firm. 

What does $2 billion buy? Here are a few leads the media should investigate:

In October 2018, only two weeks after Khashoggi was killed, Kushner urged Donald “to stand by the prince,” arguing that MBS could “survive the outrage.” This year, Kushner called bin Salman a “visionary leader” who has made the world better.

Of course, the Saudi investment was authorized despite reservations about Kushner’s lack of relevant experience.

Kushner’s firm has also received investments from state-managed funds in Qatar and the United Arab Emirates. He’s used some of those foreign funds to invest in a $500 million real estate project in Serbia. 

In the last year alone, the rights and liberties of Serbia’s citizens have deteriorated significantly, representing the most drastic reduction across Europe and the country is listed as being only “partly free.”

But it has even bigger implications for the US.

Kushner has not ruled out a return to the White House under a future Trump administration. Here’s why his dealings with authoritarian governments matter:

• Conflict of Interest

• National Security

• Ethics and Transparency

It’s critical we shine a light on this.

The House Oversight Committee launched an initial investigation into the $2 Billion investment in 2022, but the Republican majority put it on ice. This investigation needs to be re-opened as soon as Democrats have control of the House.

And then there’s the murder of Jamal Khashoggi’s about which there is much we still don’t know. Just months after Khashoggi was killed, a blockbuster report by the Intercept alleged that “Crown Prince Mohammed told confidants that Kushner had discussed the names of Saudis disloyal to the crown prince, according to three sources who have been in contact with members of the Saudi and Emirati royal families.” 

The article also alleged “MBS bragged to the Emirati crown prince and others that Kushner was ‘in his pocket.’”

These claims are largely based on circumstantial evidence and there is no definitive proof linking Kushner to any Saudi activity. Given the seriousness of the matter, however, the fact that this hasn’t led to a serious investigation is ludicrous. The House can investigate this too, and finally get justice for Khashoggi.