White House Intervened to Secure $620 Million Pentagon Loan for Company Linked to Donald Trump Jr.
The Pentagon approved a $620 million loan to Vulcan Elements, a small North Carolina startup, shortly after Donald Trump Jr.'s venture capital firm took an undisclosed stake in the company. While officials and the company denied any political favoritism or involvement by Trump Jr., Defense Department records and interviews reviewed by ProPublica suggest the White House intervened to facilitate the record-setting deal, raising concerns about cronyism and conflicts of interest.
Key quotes
The president's eldest son said through a spokesperson that he wasn't involved.
The Pentagon said Trump Jr. played no role in the record-setting deal.
The startup's founder told reporters that his company, Vulcan Elements, received no political favoritism.
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