New Delhi: A new book alleges that Saudi and Emirati leaders arranged secret financial accounts linked to Jared Kushner, during Donald Trump’s first presidency, with the author placing the broader arrangements at least $2 billion. Kushner has categorically denied the claims, and his lawyers have threatened legal action, while the purported accounts remain independently unverified.
Investigative journalist Matthew Cole makes these allegations in his new book titled Princes and Thieves: Jared Kushner and Mohamed bin Zayed’s Secret Plot to Remake the Middle East, released this month. The book examines Kushner’s role as a senior White House adviser and his diplomatic dealings with Gulf leaders, including UAE president, Mohamed bin Zayed, and Saudi crown prince, Mohammed bin Salman.
What the book alleges
Cole identifies two purported accounts, codenamed Alpha and Beta. He claims that Saudi and Emirati money worth approximately $750 million entered an account at First Abu Dhabi bank from 2017, allegedly giving Kushner access to a fund intended for diplomatic projects, including Arab-Israeli normalization.
The author separately alleges that approximately $1 billion was routed through Azerbaijan towards an account at Israel’s central bank, purportedly intended for Kushner’s personal benefit. The two stated amounts total $1.75 billion, while Cole claims the wider arrangements reached at least $2 billion. Neither balance nor Kushner’s alleged access has been independently substantiated.
Cole further alleges that Dutch intelligence discovered information about the arrangements through a compromised telephone associated with Kushner. His account draws heavily on unnamed sources, and the Vanity Fair excerpt does not reproduce bank statements, transaction records or the purported intelligence material.
Kushner denies accounts existed
In an October 22 post on X, Kushner called the allegations “completely insane and never happened”. He said the author had provided no verifiable financial records and argued that previous scrutiny, including congressional and special counsel investigations, had uncovered nothing resembling the claims.
His lawyer Alejandro Brito stated in correspondence published on Kushner’s website: “There are no accounts and never were.” Brito also maintained that Kushner had complied with applicable financial disclosure requirements and had made no unauthorized agreements with foreign leaders.
Another lawyer, Chad Mizelle, challenged Vanity Fair’s publication of the excerpt in an October 24 X post and warned of possible defamation proceedings. Kushner’s representatives demanded its withdrawal, but no lawsuit connected to these allegations could be confirmed by Thursday.
Evidence and separate Saudi investment
Cole describes Beta as a purported government-linked account at the Bank of Israel, rather than an ordinary personal account. The central bank does not offer personal banking services; whether any institutional arrangement of the kind described existed remains unverified. Former US ambassador, David Friedman, also denied the involvement attributed to him in the excerpt.
The Guardian said Saudi and Emirati embassies did not respond to its requests for comment. No independent banking documentation confirming the central claims has been made public.
Separately, Saudi Arabia’s public investment fund committed $2 billion to affinity partners, the investment firm Kushner founded after leaving office in 2021. US senate finance committee records show the firm charged the Saudi fund an annual management fee of 1.25 per cent on that commitment. These documented business dealings are distinct from Cole’s disputed accounts.
Kushner helped negotiate the 2020 Abraham Accords and has remained involved in Trump’s regional diplomacy. The allegations have revived questions about financial ties and foreign-policy influence, but neither the alleged accounts nor any related wrongdoing has been established.