Kash Patel, nominated by President Donald Trump as the head of the Federal Investigation Bureau, has shares worth $ 1 million to $ 5 million in the company controlling Shein, a controversial E -commerce giant and fashion founded in China, founded in China from three countries checked by Wired . Show that the pan began to consult Shein month earlier The company also retained the services of a lobbying company, in which Pam Bondi, the newly confirmed Prosecutor General Trump, then worked.
In legally required Financial disclosureThe pan told the members of the US Senate – he is expected to vote for whether to confirm it next week – that he is not planning to close his shares in Shein if he becomes the FBI leader. He was assigned actions at Rapid-Fashion, which is supposedly valuable $ 50 billionin the form called “limited warehouse units” (RSU).
RSUs are often transferred to company employees who can not usually hurry until a certain time has passed or other conditions are met. The pan revealed that his Rsu Shein began to acquire on February 1 and is expected to be paid quarterly.
According to the law, an official, such as the head of the FBI, would not have to get rid of or give up until a clear conflict of interests arises, says Jordan Libowitz, Vice President of Communication at the Watchdog Citizens group for responsibility and ethics in Washington. “However, the optics of the situation is not great,” he says. “Therefore, we recommend selling or reference to any case with Shein after taking office.”
The official work for the Trump transit team said that the “not everything” pan answered the questions of legislators. “The Senate evaluated all potential conflicts and fears,” said Arjun Fashion Wired. Shein did not answer immediately at the request for comment.
In his financial disclosure, Patel said that he began working as a consultant of an entity on the islands of Kajmanów called Elite Depot Ltd. in April 2024, which he described as “fashion management company”. The chairman of reviews of registration, lobbying reports and other public documentation from the US islands, Great Britain and Kajman shows that the elite is submitted as a dominant company for Shein.
Shein, known for the sale of affordable clothing made in China, was in Washington subject to intensive study in the alleged unethical business practices, when the patel began consulting the company. Among the controversy, Shein tried to obtain the approval by the Polish Financial Supervision Authority in public in Novel York. In February of the same year, the then Senior Marco Rubio from Florida, currently the Secretary of State Trump, called USA Committee of securities and stock exchanges to stop the planned IPO Shein.
In the financial audit of Shein subjected to regulatory authorities in Great Britain – where he is currently trying IPO after his rehearsals in the US list were stuck in a deadline – the company said that “the final side controlling is Elite Depot Limited, a company registered on the islands Kajmanów. “Public applications submitted to the Congress by Three miscellaneous political Lobbying companies Work on behalf of Shein in Washington similarly describes the elite depot as a 100 % participation in the giant of rapid fashion.