NEW: Trump nominee Kash Patel disclosed he’s receiving $1 million-$5 million in shares of a Cayman Islands holding company directly tied to a Chinese corporation the Senate & a pro-Trump nonprofit accuse of “slave labor.” Patel says he won’t divest. (cont’d)
Patel’s disclosure says that his shares in the company—Elite Depot Ltd—would begin vesting Feb. 1, two days after his Senate confirmation hearing, will continue to vest through November, and that he won't back out. 
But Patel appears to have lied about or misrepresented the company on his disclosure, claiming under penalty of perjury it was a “fashion management company.” But it filed as an “equity holding company” in the Cayman Islands. Equity in what, you ask?
Here are the entity’s directors, per Cayman Islands records. They include celebrities, but also the heads of Chinese retail conglomerate Shein. That company has been excoriated by US officials, including a Senate CCP investigation and Trump Secretary of State Marco Rubio.
A 2023 report from the Senate Select Cmte on the CCP said Shein was “dodging import taxes & evading scrutiny on the millions of goods” sold in the US, a “loophole that is being abused to tilt the playing field against American companies." selectcommitteeontheccp.house.gov/media/press-re…
That Senate report also connected Shein to the Uyghur genocide, citing "forced labor" practices
Last January, pro-Trump group America First Policy Institute released a report titled “Genocide Decoupling,” accusing Shein of using “free slave labor, exploiting Uyghur and other ethnic minorities.” americafirstpolicy.com/issues/genocid…
Patel came aboard the holding company 3 months after that report. In Oct, AFPI announced Patel as a new “Senior Fellow at the Center for American Security.” (His would-be boss, AG Pam Bondi, led AFPI’s Center for Litigation & Center for Law and Justice.) americafirstpolicy.com/issues/america…
Patel’s stake specifically in the holding company relates to a financial issue with Shein: The sprawling fashion conglomerate’s corporate structure has been called “opaque and tax-optimized.” publiceye.ch/en/topics/fash…
Patel was supposed to have his confirmation vote, but Dems delayed. The new info raises big questions about a sitting FBI director earning millions from a US importer—one targeted by Trump allies, with potential ties to the Chinese Communist Party. End. foxnews.com/politics/dems-…
Sorry: I promised Rubio. Last year, Rubio—now Trump's Sec of State—asked the SEC to block Shein’s IPO without more transparency, warning Shein was “subject to the whim of the Chinese government, & therefore the CCP.” (End for real.) reuters.com/markets/us/rub… web.archive.org/web/2024072410…
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