Trump Fundraiser Says UAE Investment Was Not ‘Quid Pro Quo’

by cloudnewsmag

NEW YORK (Reuters) – A fundraiser for former U.S. President Donald Trump said prosecutors were wrong to imply that his firm sought investment from United Arab Emirates sovereign wealth funds as a “quid pro quo” for lobbying for the Gulf country.

Prosecutors said in May that an investment management firm Barrack ran received capital commitments from the unnamed UAE funds totaling $374 million in 2017, after receiving no new funds from the country from 2009 to 2016.

Barrack has pleaded not guilty.

In a possible preview of the 75-year-old investor’s defense strategy, Barrack’s lawyers on Friday said others at Barrack’s firm, DigitalBridge Group Inc, sought the UAE investment. They asked U.S. District Judge Brian Cogan to issue subpoenas for the other employees’ communications.

The lawyers disputed the implication that the investment was “somehow a quid pro quo from UAE government’s leaders in exchange for Mr. Barrack’s supposed agency.”

A spokesman for the U.S. Attorney’s office in Brooklyn did not immediately respond to a request for comment.

(Reporting by Luc Cohen in New York; editing by Grant McCool)

Copyright 2022 Thomson Reuters.

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