By Basant El-Faramawy
A new book by investigative journalist Matthew Cole has ignited a political firestorm with explosive allegations about Jared Kushner's financial dealings during Donald Trump's first presidential term. Titled "Princes and Thieves: Jared Kushner and Mohamed bin Zayed's Secret Plot to Remake the Middle East," the book was released in the United States this week after an excerpt published by Vanity Fair last Thursday drew an immediate and furious denial from Kushner.
Allegations of Secret Bank Accounts
Cole's book alleges that Emirati leader Mohamed bin Zayed (MBZ) and Saudi Crown Prince Mohammed bin Salman (MBS) established two "slush fund" bank accounts for Kushner during Trump's first term, totaling at least $2 billion. According to the book, an "Alpha" account at First Abu Dhabi Bank held roughly $750 million intended as a foreign policy fund overseen by Kushner and MBZ, while a "Beta" account contained approximately $1 billion allegedly moved to the Israeli Central Bank via Azerbaijan at the suggestion of Prime Minister Benjamin Netanyahu.
Kushner Denies All Claims
Kushner has vehemently denied the allegations, calling them "completely insane" on his website and on X. He stated he was one of the most scrutinized people in the world during that period, subject to multiple congressional investigations and a special counsel probe, and that none of these allegations ever surfaced because "none of these events ever happened." Kushner has demanded Vanity Fair retract the excerpt and threatened legal action against publisher Simon & Schuster.
Attorney Calls Claims Defamatory
Alejandro Brito, an attorney who has represented Trump in defamation lawsuits, told Cole that Kushner "always represented and sought the interests of the United States" and that "any allegation that Kushner knew of, had access to, had authorization for or engaged in or directed any conduct related to any government-funded or government-linked bank account is totally false and defamatory." Brito added: "There are no accounts and never were."
Anonymous Sources and Missing Documentation
The book relies predominantly on anonymous sources and does not publish images of emails or other documentation, though it includes extensive footnotes referencing confidential interviews. Cole reports that UAE intelligence chief Ali Al Shamsi referred to Kushner as "the most expensive employee we've ever had." The author also alleges Kushner's iPhone was hacked by Russian and Dutch intelligence.
Broader Context of Middle East Diplomacy
Cole writes that MBZ and MBS sought to secure "the best access money could buy" through Kushner, aiming to advance a vision of a new Middle East featuring Israeli normalization, Palestinian peace built on prosperity, defeat of Islamic extremism, and containment of Iran. The book also revisits Kushner's role in securing Qatari investment in 666 Fifth Avenue and examines the $2 billion Saudi sovereign wealth fund investment in Kushner's Affinity Partners private equity firm after Trump left office in 2021.
