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.”
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.
Featured image via JD Lasica/Flickr
Trump whines about ‘demeaning and belittling’ new book titled ‘A Very Stable Genius’
President Donald Trump lashed out at two Pulitzer Prize-winning journalists on Saturday after returning to Mar-a-Lago from Trump International Golf Club.
Trump lashed out at Philip Rucker and Carol Leonnig for their highly-anticipated new book, A Very Stable Genius: Donald J. Trump's Testing of America, which will be released on Tuesday.
The two were on The Washington Post team that won a Pulitzer Prize for their coverage of the Trump administration.
"Another Fake Book by two third rate Washington Post reporters, has already proven to be inaccurately reported, to their great embarrassment, all for the purpose of demeaning and belittling a President who is getting great things done for our Country, at a record clip," Trump claimed, without offering any evidence.
Impeachment managers release trial memorandum detailing why Trump must be removed from office
House impeachment managers released an in-depth trial memorandum laying out the case for convicting President Donald Trump during his Senate impeachment trial.
The memorandum was released by representatives Adam Schiff (D-CA), Jerry Nadler (D-NY), Zoe Lofgren (D-CA), Hakeem Jeffries (D-NY), Val Demings (D-FL), Jason Crow (D-CO) and Sylvia Garcia (D-FL).
The document divides the argument by the House of Representatives into three points.
"The Senate should convict President Trump of abuse of power," is the first section.
"The Senate should convict President Trump of obstruction of Congress," is the second section.
He ‘can’t understand why he is being impeached’: CNN reports Trump is asking ’why are they doing this to me?’
President Donald Trump is reportedly "distracted" by impeachment while vacationing at Mar-a-Lago as the United States Senate trial begins.
"A source close to the White House who speaks to Donald Trump regularly said the President has appeared 'distracted' by the impeachment trial that begins on Tuesday, telling people around him Friday night at Mar-a-Lago that he 'can't understand why he is impeached,'" CNN's Jim Acosta reported Saturday. "'Why are they doing this to me,' the source quoted Trump as saying repeatedly."