Kash Patel, candidate for President Donald Trump, is the head of the Federal Investigation Department (FBI), owning stocks worth from $ 1 to 5 million in a control company. SheinOne controversial The e -commerce and fashion giant was established in China, following the corridor and business records from three countries considered by Wired. They showed Patel to advise Shein A month ago The company also retains the services of a company that campaigned the corridor where PAM Bondi, the US General Attorney General confirmed Trump, worked at the time.
In a legal requirement Financial disclosurePatel told the members of the United States Senate, who expected to vote on whether to confirm him next week or not, he did not have a plan to divest in Shein if he became a player. field of FBI. He has been allocated shares in fast fashion companies, thought to be valid $ 50 billionIn the form of what is called limited stock units (RSU).
RSUs are usually given to the company employees who can not withdraw money until a certain period of time passes or other conditions are met. Patel revealed that the British Shein Rsus started trading on February 1 and is expected to be paid quarterly.
Legally, an official like the head of the FBI will not need to divest or reuse until the conflict of benefits clearly appears, Jordan Libowitz, Vice President of Communications at the citizen supervision group on Responsibility and morality in Washington said. However, the optics of the situation were not large, he said. Therefore, we will offer to divest or refuse any issues related to Shein when taking office.
A officially working for Trump's conversion team said that Patel had surpassed and beyond answering questions from legislators. The Senate has evaluated all potential conflicts and concerns, Mr. AR ARUN MODY said in an email sent to Wired. Shein did not answer immediately asking for a comment.
In his financial revelation, Patel said he started an advisor to an entity in the Cayman archipelago called Elite Depot Ltd in April 2024, which he described as a fashion management company of a human being Islam. A wired evaluation of business registration records, revealing corridors and other public records from the American archipelago, the UK and Cayman showed that Elite Depot functions as a parent company of Shein.
Shein, known for its sale of cheap clothes made in China, was carefully considered in Washington about unethical business activities that are supposed to be theirs when Patel, who has started to consult for public advice. Ty. Amidst the controversy, Shein is struggling to get the approval of financial management agencies to publicize in New York. In February of that year, at that time was Florida's Marco Rubio, currently Trump's Foreign Minister, urge The US Securities and Securities Commission to prevent the IPO as planned by Shein.
In a financial audit, she submitted to the authorities in the UK, which is currently trying to IPO after the efforts on a list of the United States have been delayed, the company said the party Their final control is Elite Depot Limited, a company registered in the Cayman Islands. “The dossier publicly submitted to the National Assembly by three distinctive political Corporations campaigning corridors Working on behalf of Shein in Washington, the same description Elite Depot is a 100 % stake in a fast fashion giant.