Washington, D.C. – Senate Finance Committee Ranking Member Ron Wyden, D-Ore., launched an inquiry today into a blank-check company called Yorkville International Capital that has close ties to Donald Trump’s family and businesses and raised $200 million for the purpose of investing in Venezuela and Latin America. Yorkville is controlled by a firm whose financial ties to Trump businesses amount to billions of dollars, and it shares a CEO with Trump Media & Technology Group. Senator Wyden questioned Yorkville’s president over his company’s Trump ties and concerns that investments in Venezuela could violate international sanctions and human rights.
“Both Yorkville Advisors and persons involved with Yorkville International Capital have deep business ties to Donald Trump and the Trump family. Now it appears that following the Trump administration’s decision to loosen sanctions on Venezuela, Yorkville Advisors is cashing in,” Senator Wyden wrote to Mark Angelo, president of Yorkville Advisors Global. “Due to the opacity of shell companies like Yorkville International Capital, I have strong concerns about potential conflicts of interest with the Trump administration and what could amount to a blank check to funnel hundreds of millions of dollars to strengthen Donald Trump’s businesses. Given the significant overlap between Yorkville International Capital, Yorkville Advisors, and Donald Trump’s personal business interests, transparency is required to ensure that adequate due diligence policies are in place, there is appropriate separation between these entities, and that Yorkville Advisors isn’t being afforded special privilege as a result of its relationships.”
The complete text of the letter is available for download here. Senator Wyden’s letter posed the following questions:
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