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Scaramucci's trying to hide his $180 million conflict of interest deal with the Chinese.
The $180 million conflict that kept Scaramucci out of the White House in January has only gotten shadier
Anthony Scaramucci is selling his fund of funds business to a Chinese conglomerate with ties to the government. The firm, the HNA Group, is facing an increasing number of questions at home and abroad, and the deal is subject to review by the US Treasury. The sale reportedly kept Scaramucci out of the White House in January because of the conflicts it raises.
...
New White House communications director Anthony Scaramucci has joined the Trump administration with a $180 million conflict of interest hanging over his head. It's the same conflict that reportedly kept him out of the White House months ago, and it's only gotten stickier since then.
Scaramucci is selling his $5.6 billion financial firm, SkyBridge Capital, to a number of investors. Chief among them is a Chinese financial firm with strong ties to ruling Communist Party, called the HNA Group. Already, Bloomberg outlined that HNA and its fellow investors seem to be paying multiples more for SkyBridge than a firm like this would normally be valued at. But the sale has also been dragging on for months, and as it has we've seen the questions about HNA, its ownership structure, and its financing rise out of the murky world of big Chinese business.
...
"HNA is looking for influence in an administration that looks like it is positioning itself to be anti-China," Derek Scissors, a China specialist at the American Enterprise Institute, told The New York Times earlier this year.
Therein, of course, lies the conflict. And HNA brings baggage of its own — it is, for example, unclear exactly who owns and backs it. Bank of America won't do business with the company, and the European Central Bank is investigating HNA's stake in Germany's Deutsche Bank.
http://www.businessinsider.com/scaramucci-hna-business-sale-conflict-2017-7
Anthony Scaramucci is selling his fund of funds business to a Chinese conglomerate with ties to the government. The firm, the HNA Group, is facing an increasing number of questions at home and abroad, and the deal is subject to review by the US Treasury. The sale reportedly kept Scaramucci out of the White House in January because of the conflicts it raises.
...
New White House communications director Anthony Scaramucci has joined the Trump administration with a $180 million conflict of interest hanging over his head. It's the same conflict that reportedly kept him out of the White House months ago, and it's only gotten stickier since then.
Scaramucci is selling his $5.6 billion financial firm, SkyBridge Capital, to a number of investors. Chief among them is a Chinese financial firm with strong ties to ruling Communist Party, called the HNA Group. Already, Bloomberg outlined that HNA and its fellow investors seem to be paying multiples more for SkyBridge than a firm like this would normally be valued at. But the sale has also been dragging on for months, and as it has we've seen the questions about HNA, its ownership structure, and its financing rise out of the murky world of big Chinese business.
...
"HNA is looking for influence in an administration that looks like it is positioning itself to be anti-China," Derek Scissors, a China specialist at the American Enterprise Institute, told The New York Times earlier this year.
Therein, of course, lies the conflict. And HNA brings baggage of its own — it is, for example, unclear exactly who owns and backs it. Bank of America won't do business with the company, and the European Central Bank is investigating HNA's stake in Germany's Deutsche Bank.
http://www.businessinsider.com/scaramucci-hna-business-sale-conflict-2017-7
Scaramucci's sale of his hedge fund, SkyBridge Capital, to a Chinese conglomerate with deep ties to ruling Communist leaders of that country, adds another foreign player to the Trump administration's list of 'friends'.
