Trump, Lutnick’s Sons Stand to Gain Big Profits from Billion-Dollar Mining Deal: Report
By New York Post. The sons of President Trump and Commerce Secretary Howard Lutnick stand to see a big windfall after businesses tied to the families helped secure a $1.6 billion mining deal in Kazakhstan, according to a new report.
After Trump and Lutnick closed a deal for an American company called Kaz Resources to mine one of the world’s largest untapped reserves of tungsten last November, records indicate that firms tied to their sons saw financial gain from the contract, the New York Times reported.
Dominari Securities — which is housed at Trump Tower in New York and partly owned by the president’s two eldest sons, Donald Trump Jr. and Eric Trump — had joined other investors to take a 20% stake in a company related to the project.
At the same time, Cantor Fitzgerald — an investment company controlled by Lutnick’s family and overseen by his sons Brandon and Kyle Lutnick — helped one of the investors working with Dominari raise $210 million in new capital.
The dealings have raised questions about the Trump and Lutnick families’ financial gains under deals struck during the president’s second term. . .
During the negotiations, Lutnick pushed Kazakhstan President Kassym-Jomart Tokayev to give the mining contract to Kaz Resources executive chairman Pini Althaus and his backers, writing in a letter that the Trump administration “fully supports” the company. (Read more from “Trump, Lutnick’s Sons Stand to Gain Big Profits from Billion-Dollar Mining Deal: Report” HERE)
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Trump Admin Inner Circle Secretly Trash His Sons’ Latest Grift
By The Daily Beast. Donald Trump’s sons’ financial ties to a major mining project backed by their father’s administration have apparently rankled even some within the president’s inner circle. . .
Trump administration officials involved in the deal told The Times, speaking anonymously, that they were disappointed by the involvement of the Trump family—as well as the family of Commerce Secretary Howard Lutnick—in projects the government itself is helping to finance.
In September, Lutnick, 64, and Trump, 80, negotiated an agreement with Kazakhstan’s president granting a small U.S. mining company, Kaz Resources, access to Kazakhstan’s tungsten reserves, alongside approval for more than $1 billion in preliminary federal financing applications. . .
Within weeks of the September negotiations, Dominari Securities—a firm based in Trump Tower and partly owned by Don Jr. and Eric—joined with other partners to take a 20 percent stake in the mining project, The Times reports.
Around the same time, Cantor Fitzgerald, the investment firm overseen by the commerce secretary’s sons, Kyle and Brandon Lutnick, helped raise $210 million for one of the lead investors working with Dominari Securities on the deal, a type of transaction that typically generates millions of dollars in fees for the firm. (Read more from “Trump Admin Inner Circle Secretly Trash His Sons’ Latest Grift” HERE)
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