A financial intrigue behind the jewelery brand linked to Ivanka Trump ♦ ︎
The jewelry brand tied to Ivanka Trump, daughter of the US president, Donald Trump has a problem. A commercial failure? Maybe. But in the United States on the flop of the Ivanka Trump Fine Jewelry brand, menacing shadows are gathering.
Read also: Trump’s jewels (Ivanka)
The perspective is that identified by the monthly GQ, US edition. According to the magazine, a court document filed with the United States District Court for the Southern District of New York claims that the company Ivanka Trump Fine Jewelry was involved in a financial scheme to cover a $ 100 million debt due to Commercial Bank of Dubai from an Emirati Arab family, the Al-Saris, active in oil trading. But what do Ivanka Trump’s jewels have to do with it?
Simple: the Arabs in question would have borrowed money from the bank without being able to repay them. To avoid trouble, they would hide the money by turning them into diamonds purchased from Madison Avenue Diamonds, which is the company to which Ivanka has licensed his name, and also from Jacob Arabo (that of Jacob & Co). Buying diamonds is a way to hide money and avoid seizure: just a jacket or trouser pocket is enough to hide a fortune. The family would then buy properties in Las Vegas.
Ivanka and Jacob Arabo are not accused of being involved in this plan, however. The fact is that the jewelry company with the name of Ivanka, according to the accusation, would have served to cover this financial intrigue, a sort of recycling. Federico Graglia
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