News
Conflict Of Interest · Drone Investment · Eric Trump · Xtend
The article details Eric Trump's investment in a $1.5 billion merger between Israeli drone manufacturer Xtend and Florida-based JFB Construction Holdings, a deal designed to take Xtend public.
Xtend, known for its “low cost per kill” drones, has secured multimillion-dollar contracts with the Pentagon and is participating in the Defense Department’s Drone Dominance Program. The investment, which also involves Eric's brother Donald Trump Jr.
as an adviser to another investing firm, has ignited significant conflict-of-interest concerns. Ethics experts, including Kedric Payne of the Campaign Legal Center, highlight the appearance of the president's family profiting from the presidency, drawing parallels to past controversies involving Hunter Biden and Vice President Dick Cheney.
The article notes that JFB Construction also appointed former White House attorney Stefan Passantino to its board. This development comes amidst broader scrutiny of the Trump family's business dealings during Donald Trump's second term, including attempts to trademark the president's name for airports.
The merger aims to scale Xtend's manufacturing capabilities in the US and access public markets.
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