Last week, the finances of President Donald Trump’s pick to lead the FBI, Kash Patel, came under scrutiny amid reports that Trump’s media company gifted Patel more than $700,000 worth of stock, days before his Jan. 30 confirmation hearing.
Patel, a board member of the Trump Media and Technology Group, has vowed to target the media if given power. The reported gift from Trump Media gave the impression that Patel’s crusade against journalists may also be out of self-interest in addition to being waged out of sheer loyalty to Trump. In his Monday response to a group of senators’ written questions, Patel said he would resign from the media company’s board if confirmed. He also said he did “not accept” the stock gift “to avoid any appearance of any conflict.”
But a new report on his finances is raising eyebrows, as well.
Progressive advocacy group Accountable.US reported Tuesday on Patel’s multimillion-dollar ties to an investment firm that owns the Chinese clothing company Shein, which has faced accusations of human rights abuses. (The company has denied the allegations.)
Patel’s financial disclosure revealed he owns between one and five million dollars in Elite Depot Ltd. stock. Elite Depot is the ultimate controlling party of Shein, the Chinese fast fashion realtor. Patel noted that he could participate in matters related to the financial interests of the company if he received a written waiver from Trump.
In other words, the man being tapped to lead the FBI appears to have a massive financial stake in a company with a controlling interest in Shein, which has faced allegations — by U.S. lawmakers, in fact — that it has relied on forced labor in its supply chain. (Shein has stated it has “zero tolerance” for forced labor.)
In his response to those written questions from senators, Patel said the U.S. Office of Government Ethics determined he did not need to divest from the company “because the likelihood that my duties will involve” the financial interests of Elite Depot, Ltd. “is remote.”
He added: “Accordingly, I have agreed to not participate personally and substantially in any particular matter that to my knowledge has a direct and predictable effect on the financial interests Elite Depot, Ltd.”
Nonetheless, the optics here seem more than a little unsettling for Patel, a man who vowed to go after human traffickers multiple times during his confirmation hearing. Senate Democrats successfully postponed this week’s planned committee vote on Patel’s confirmation to next week. Given Republicans’ fawning over him during his hearing, the latest news about Patel’s relationship to Shein seems unlikely to stop them from confirming him as FBI director. But you can rest assured Democrats will shine a light on this relationship in the days ahead. As an example, see Sen. Chris Murphy of Connecticut’s post to X on Monday: So…
Ja’han Jones is an MS NOW opinion blogger. He previously wrote The ReidOut Blog. Recommended
the incoming FBI Director worked for 8 months as a fashion consultant to a shadowy Cayman holding company connected to a Chinese Communist party slave labor manufacturer and he gets up to $5m in fees (for 8 months of work! wow!) that only vest after his nomination.
WTF. https://t.co/1Yuggi08WJ
