Mnuchin won’t reveal who bought his movie company – Daily News

Mnuchin won’t reveal who bought his movie company – Daily News


The Treasury Department pushed back at congressional Democrats who questioned whether Secretary Steven Mnuchin had a potential conflict of interest in a sanctions decision on a Russian oligarch with a letter stating the secretary did not sell his stake Hollywood production company to a businessman tied to a Russian in question  But the Treasury letter did not disclose who bought Mnuchin’s stake in the company RatPac-Dune Entertainment Mnuchin’s agency was responding to a letter by Democratic Rep. Jackie Speier of California, who pressed him on any connections to Oleg Deripaska, a Russian oligarch and aluminum magnate  Leading Democrats have been pushing for information on Mnuchin’s ties to GOP donor Len Blavatnik, a Ukraine-born Hollywood investor He’s also a major investor in Deripaska’s company Rusal, a Russian aluminum giant that was put under sanction only to have them lifted after an intense lobbying campaign In a Jan. 23 letter, Democratic Rep. Jackie Speier lectured Mnuchin on his involvement in the decisions on the Rusal sanctions  ‘The fact that you did not recuse yourself from the proposed termination of sanctions is deeply troubling and a conflict of interest,’ Speier wrote in a the letter obtained by The Hollywood Reporter  Democrats also have asked Mnuchin to identify the buyer of his interest in RatPac-Dune, which he sold in June 2017 following his appointment as secretary of the Treasury   But the Treasury Department is denying Blavatnik is the buyer in question although they decline to say who    ‘To be clear, the Secretary did not sell his stake in RPDE (RatPac-Dune) to Mr Blavatnik or his companies,’ according to the Treasury letter by Jennifer Bang deputy assistant secretary for legislative affairs    ‘The Secretary sold his stake in RPDE to a third party unrelated to Mr. Blavatnik,’ she wrote, ABC News reported  RatPac-Dune has produced hits including The Lego Movie and Wonder Woman. Two powerful Democrats, Oversight chair Rep Elijah Cummings and Sen. Ron Wydeon of Oregon, also wrote asking about Mnuchin’s ‘personal and professional relationships with major Rusal shareholder Len Blavatnik, a key beneficiary from your decision to delist Rusal ‘Another Treasury official told the New York Times Mnuchin had ‘no business relationship’ with Blavatnik and any implication of a conflict of interest or ethical problem was ‘absurd ‘Tony Sayegh, the Treasury Department’s assistant secretary for public affairs, told the newspaper Mnuchin had ‘no business relationship’ with Blavatnik but did know him socially Sayegh also told the paper Mnuchin nor his wife, Louise Linton, were aware Blavatnik’s purchased a stake in RatPac-Dune until it was publicly announced,  making it unnecessary for the Treasury secretary to recuse himself on the sanctions issue   Speier wrote Mnuchin last week, asking if Deripaska ‘ever influenced deliberations on sanctions applications when they involved an entity in which you had a financial interest or with which you had a relationship ”Given your business relationships with these individuals and your involvement in twice delaying sanctions, weakening the penalties, and eventually proposing relief from sanctions there is clearly a conflict of interest,’ she wrote   

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