Trump’s FBI pick Kash Patel has acquired stocks of up to $5 million from the Chinese e-commerce giant scene

Kash Patel, who is head of the Federal Bureau of Investigation, is the candidate for President Donald Trump, owns $1-$5 million in stakes in the company he manages. Shanea Controversial The e-commerce and fashion giant was founded in China, according to lobbying and corporate records from three countries reviewed by Wired. They show that Patel has started consulting for Shane 1 month ago The company also held services for the lobbying company where Trump’s newly confirmed US Attorney General Pam Bondy worked for at the time.

Legally necessary Financial disclosurePatel told members of the US Senate who are expected to vote on whether to confirm him next week that he has no plans to sell Sheen’s shares if he becomes the leader of the FBI. He was assigned stock to a first fashion company, but it is reportedly rated as worthy. $50 billionin the form of what is called a “limited inventory unit” (RSU).

RSUs are often given to employees of the company. Company employees are generally unable to cache them until a certain amount of time has passed or other conditions are met. Patel revealed that his Shein RSUS will begin vesting on February 1st and is expected to be paid quarterly.

Legally, officials like the head of the FBI are not required to sell or refuse until a clear conflict of interest appears, and Jordan, Vice President of Communications for Watchdog Group Citizens for Responsibility and Ethics in Washington. Libowitz says. “But the optics of the situation aren’t very big,” he says. “So, I recommend selling or rejecting the issues that Shane will be involved in when he takes office.”

Officials working on Trump’s transition team said Patel was “more than that” when answering questions from lawmakers. “The Senate evaluates all the potential conflicts and concerns,” Arjun Modi said in an email to Wired. Shein did not immediately respond to requests for comment.

In his financial disclosure, Patel said he began working as a consultant for an entity in the Cayman Islands, known as the Cayman Islands, in April 2024, describing him as a “fashion management company.” Corporate registration applications, lobbying disclosures and other public records from the US, UK and Cayman Islands show that Elite Depot acts as the parent company of the Scene.

The scene, known for selling low-cost clothing made in China, was under intense scrutiny of unethical business practices in Washington when Patel began consulting for the company. . In the controversy, Sheen struggled to get approval from financial regulators for release in New York. That February, then Florida Senator Marco Rubio, now Trump’s Secretary of State. I was urged The US Securities and Exchange Commission to suspend Sheen’s planned IPO.

In the financial audit, Shein submitted it to the UK regulator. This is currently attempting an IPO after US listing attempts stalled. The company states, “Ultimate Controlling Party is Elite Depot Limited, a company registered with Cayman Islands.” Publication submitted to Congress three different Political Lobbying company Working on behalf of Shane of Washington, explains that Elite Depot has 100% ownership of the first fashion giant.