Trump's Sons Land Massive Pentagon Deal as They Flaunt Corruption
By: Ellie Quinlan Houghtaling (The New Republic)
S E E D E D C O N T E N T
Donald Trump Jr. and Eric Trump also bought a stake in a federally contracted mining company.
The president's elder sons are making money hand over fist off of their father's office.
At least two companies tied to Don Jr. and Eric Trump have won large government contracts, setting the stage for the Trump family to make a sizable chunk of change from their involvement in the federal government.
Powerus, a drone manufacturer led by former U.S. Army Special Operations veterans, was founded last year. Trump's two sons became tied to the company's board after it merged with a golf club in March, a decision that took the company public via a reverse merger. The brothers' investment firm, American Venture, has backed the combined entity, and their boutique investment bank, Dominari Securities, was also involved in the transaction.
This past week, the U.S. Air Force agreed to buy an undisclosed number of drones from Powerus as America's war with Iran hits the 60-day mark. The company's co-founder, Brett Velicovich, claimed the decision had nothing to do with its investors' obvious ties to the White House.
"They're not going to pick a system because of who's on an investor list," Velicovich told Bloomberg. "They're picking because they need it now."
There are at least 187 drone manufacturers based in the United States, according to a November report from Georgetown's Center for Security and Emerging Technology.
But that isn't the Trump family's only financial coup this week: A shell company backed by Don Jr. and Eric agreed to merge with a major tungsten mine in Kazakhstan that just last year secured $1.6 billion in U.S. government support.
The two brothers bought into a construction company, Skyline Builders, last August, through a special-purpose vehicle arranged by Dominari Securities, sources told the Financial Times.
Weeks later, in September, Kazakhstan's President Kassym-Jomart Tokayev told Donald Trump that he intended to award a major tungsten project to U.S. investment group Cove Kaz Capital, an entity backed by the U.S. government, to compete against Chinese and Russian mining companies. That story emerged in the press on October 21.
By October 28, Eric and Don Jr. had added almost $24 million to their Skyline investment. On October 31, Skyline paid $20 million for a 20 percent stake in Kaz Resources, a subsidiary of Cove Capital, an investment company that controls Cove Caz.
Cove Capital's deal with the National Mining Company of Kazakhstan became public on November 6, with an announcement that they would jointly develop "the largest known undeveloped tungsten resource in the world."
Cove Kaz Capital and Kaz Resources agreed to merge with the brothers' investment firm, Skyline, on Thursday, reported the Financial Times, which noted that there was no mention of either Trump brother in the merger announcement.
A representative for Don Jr. denied that he had any knowledge of his father's dealings prior to the initial investment or the merger.
"Don is a passive investor in American Ventures and has no operational involvement in the company," his spokesperson told the Financial Times. "He does not interface with the federal government on behalf of any company he invests in or advises."
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Where's Rudy Giuliani? We need him on this case .
Remember how the right wingers bitched and moaned incessantly about Hunter Biden? The Trumps make him look like a piker.
We need to give the Trump family millions (billions?) in taxpayer money, so we cannot possibly afford to fund childcare in America. Or Medicare. Or Medicaid. Or the magnificent work saving lives around the world that was accomplished by the USAID. We must set priorities and nothing could be more important than enriching the Trumps. I'm sure all of Trump's diehard supporters on here will agree.
The U.S. is 'burning' now while we 'fiddle.' Trump has made MAGA out to be the biggest fools they can possibly be and still they ask for more! As for liberals. . . please get your 'sorry' numbers up. . . we are needed more than ever in the Push-back Zone!
MAGA supporters and Tea-partiers the treasury is being 'raided' - on this one where are YOU?????! Still loyal to a man who is not loyal to keep faith with You?!!!!
Gas is up to $ 5.17 in Chicago today. Grocery prices will rise. Food pantrys are stocking up. Oh, and SNAP has ended for millions of people.
Winning!
And just look. . . look at those individuals that are NOT here upset or 'spouting OFF' about the Trumps' grifting of our federal coffers. . . .