NOMINEE FOR FBI DIRECTOR OWNS A MAJOR INTEREST IN A CHINESE FAST FASHION COMPANY

if you failed to read our article published on Saturday, February 8, 2025, entitled MPE+TBML=MONEY LAUNDERING THROUGH FAST FASHION https://lnkd.in/eryih9dW you are advised to review it before continuing here. According to major media reports, KASHYAP PATEL, a/k/a KA$H PATEL, the current administration's nominee for Director of the Federal Bureau of Investigation (FBI) holds stock in a Cayman Islands investment firm that appears to be a holding company, ELITE DEPOT LTD.,which has a controlling interest in the Chinese fast fashion company, SHEIN. Patel listed that ownership, with an estimated value of between one and five million dollars, on a financial disclosure form. Shein has been named as a company allegedly employing forced labor in its fabrication of clothing for foreign markets.

While our article detailed how Mexican Fast Fashion companies launder narcotics profits for the cartels, such entities based in China are also alleged to be receiving, and cleaning, drug profits, and funneling them to the Cartels in Latin America, together with fentanyl and other controlled substances. US origin payments to China-based Fast Fashion could be easily employed through Trade-based Money Laundering techniques to transfer a wide variety of illicit funds, including for the financing of terrorism.

There is no indication that Patel intends to divest himself of this stock, creating ethical as well as Conflict of Interest issues, in the event he is confirmed as FBI Director, which could require him to supervise a criminal investigation of a company which he has an interest in. We are unaware of how he was able to acquire such a substantial interest in the Cayman investment company.