NYT bombshell: Trump sons cash in on $1.6 billion federal mining deal

Source: msn


Story by Matthew Rozsa • 4h •



President Donald Trump’s sons are profiting off of their father’s connections, including in a previously-undisclosed deal over a lucrative metal.

“Their sons were soon doing business with partners in a deal that their fathers were negotiating, continuing a pattern of self-enrichment in the second Trump administration that has few precedents in American history,” wrote The New York Times’ Paul Sonne and Eric Lipton on Sunday. The report covered how Donald Trump Jr. and Eric Trump availed themselves of a meeting between Commerce Secretary Howard Lutnick and Kazakhstan President Kassym-Jomart Tokayev in September to grant a little-known American company called Kaz Resources access to their tungsten mines.


Prior to that meeting, the Trump administration approved preliminary applications for up to $1.6 billion in federal financing for Kaz Resources to break ground on the project in rural Kazakhstan. Dominari Securities, which is partly owned by the Trump sons, agreed to take a 20 percent stake in the tungsten projects.

“Around the same time, Cantor Fitzgerald, an investment company controlled by Mr. Lutnick’s family and overseen by his sons Brandon and Kyle Lutnick, helped one of the lead investors working with Dominari on the Kazakh deal raise $210 million in new capital for a related entity,” Sonne and Lipton wrote. “Such rounds of fund-raising typically net Cantor millions of dollars in fees.”............................


Read more: https://www.msn.com/en-us/news/politics/nyt-bombshell-trump-sons-cash-in-on-1-6-billion-federal-mining-deal/ar-AA26IXbV?ocid=msedgdhp&pc=U531&cvid=6a413dce3f7e4ad4aef1a7c1f85f8405&ei=8

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All in the Family!!



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Eric Trump, left, Donald Trump Jr., right, and their World Liberty Financial co-founder Zach Witkoff, behind Don Jr., at the Nasdaq Market in New York in August to celebrate the closing of a deal. REUTERS/Eduardo Munoz