Quantcast
Connect with us

FBI opens investigation into venture capital firm co-founded by Peter Thiel

Published

on

According to a report from Recode published this Thursday, the FBI is investigating a venture capital firm cofounded by millionaire investor Peter Thiel for “financial misconduct.”

The investigation into Mithril Capital isn’t the first time questions have been raised about the firm. Earlier this year, Recode reported that Mithril Capital is enveloped in a “slow burning mess” regarding its investments. Speaking to Recode, a spokesperson for the firm slammed the FBI’s investigation as a “foiled plot by a self-serving ex-employee.”

ADVERTISEMENT

According to Recode, the probe threatens to “destabilize the world of Thiel, who heads an enormously influential network of tech investors, startup founders, and political allies across Silicon Valley.”

A federal investigation could subject Thiel, who has not publicly distanced himself from [firm cofounder Ajay Royan], to new scrutiny as investigators put the firm he co-founded under a microscope. It could also stain the reputation Thiel has established for having a Midas touch in investing.

A spokesperson for Thiel, Jeremiah Hall, declined to comment on the new probe, but has said previously that Thiel was “proud” of Royan.

Other internal problems threaten the firm as well. After the exodus of several employees and two managing directors, Mithril Capital has reportedly been reduced to a “bare-bones” operation.

Investment advisory group Cambridge Associates is also calling out Mithril for “mismanagement” after giving the firm millions of its clients’ funds.

As Business Insider points out, Thiel is vocal supporter of President Trump and was one of the earliest investors in Facebook. He also cofounded the online-payment app PayPal and the big-data company Palantir. Thiel is reportedly no longer involved with Mithril, but has so far given the firm $300 million of his own money.

ADVERTISEMENT

Featured image via JD Lasica/Flickr


Report typos and corrections to: [email protected].
READ COMMENTS - JOIN THE DISCUSSION
Continue Reading

Breaking Banner

A whopping 14 percent of new US COVID-19 cases are coming from Texas

Published

on

With the daily number of new coronavirus infections in Texas now exceeding that of most other states, experts say Texas has become a hot spot of the global pandemic and that more aggressive measures are needed to slow the virus’ spread.

Texas’ new confirmed cases of the coronavirus now make up around 14% of the U.S. total — measured by a seven-day average — a significantly higher proportion than its 9% share of the nation’s population. Since July 1, the U.S. has reported 358,027 new infections. Of those, 50,599 were in Texas.

On Tuesday, the Texas Department of State Health Services reported more than 10,000 new cases — representing nearly 20% of the nation’s new cases for the day. It could be a “catch-up” from the July 4 holiday, DSHS spokesman Chris Van Deusen said, noting that numbers reported Sunday and Monday were lower.

Continue Reading

Breaking Banner

Devastating new ad uses Ronald Reagan’s words against Trump to stunning effect

Published

on

The Lincoln Project is not the only right-wing group that has been creating attack ads slamming President Donald Trump. Another is Republican Voters Against Trump, which uses the words of President Ronald Reagan in its latest video to illustrate Trump’s failures as president.

In the ad — which lasts one minute and 40 seconds — RVAT contrast Reagan’s words with images of the U.S. during the Trump era. The message is not subtle: Under Trump, the United States is a long way from Reagan’s vision for the country.

The ad isn’t aimed at liberals and progressives, many of whom would argue that Reagan’s economic policies were bad for the American working class during the 1980s. It asks Republicans: “Has your party left you?”

Continue Reading
 

Breaking Banner

The sheep-like loyalty of Trump supporters is starting to backfire

Published

on

Donald Trump thinks his voters are morons. This universal truth was once again demonstrated this week by a Facebook ad working Trump’s new statue-oriented campaign strategy. The ad declared, “WE WILL PROTECT THIS” and featured a photo of … no, not some racist-loser Confederate general astride a horse but “Cristo Redentor,” the famous statue of Jesus Christ that sits atop Mount Corcovado in Rio de Janeiro, which, for those keeping track, is not in the United States but in Brazil, a sovereign nation in a different continent.

Continue Reading
 
 
You need honest news coverage. Help us deliver it. Join Raw Story Investigates for $1. Go ad-free.
close-image