California Rep. Ro Khanna announced on Wednesday he has launched an investigation as ranking member of the Select Committee on China into a $500 million investment by Abu Dhabi’s ruling family in World Liberty Financial (CRYPTO: WLFI), a Trump-linked cryptocurrency company.
The probe focuses on a January 2025 deal in which lieutenants to Sheikh Tahnoon bin Zayed Al Nahyan, the U.A.E. national security adviser, secretly signed an agreement to purchase a 49% stake in the firm.
The arrangement would steer $187 million to Trump family entities and $31 million to entities tied to Steve Witkoff‘s family, Trump’s Middle East envoy.
“These arrangements are not just a scandal, but may even represent a violation of multiple laws and the United States Constitution,” Khanna wrote in a letter to World Liberty Financial CEO Zach Witkoff—who is also Steve’s father—requesting documents and answers to 16 questions regarding conflicts of interest and due diligence, The Wall Street Journal reported.
Congressional Democrats Demand Answers
According to the report, Khanna has also urged Delaware U.S. Attorney Ben Wallace to investigate a Delaware-based LLC used by the Abu Dhabi buyers for the investment.
“Every American should know that President Trump has betrayed our workers and has allowed our industrial base to be hollowed out. He’s been tougher on Canada and our allies than on China and Xi Jinping. I will be going to the heartland to speak directly with Americans who have been shafted by this administration’s reckless blanket tariffs and failed economic policies,” Khanna said in a January statement.
Trump previously noted he didn’t know about the investment, adding “My sons are handling that. My family is handling it.”
Photo courtesy: Phil Pasquini on Shutterstock.com
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Recent Comments