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George Wilson learned the hard way that there's no such thing as a free lunch — or, in his case, a free dinner that cost him a chunk of his retirement savings.As a retiree, he regularly received postcards in the mail, offering to teach him about finance and how to make money in retirement. They usually involved a presentation at a nice restaurant, and he would go without acting on any of the investment advice.But on one occasion, Wilson did take the bait after a brochure he received in 2010 inviting him to an evening at Ruth's Chris Steak House ended up costing him $158,000."It was a very good restaurant. And so, of course, it caught my attention," Wilson said in an interview.At that fateful dinner, he enjoyed his favorite top sirloin steak, asparagus tips, and a "fabulous" chocolate cake. He also met David Escarcega, one of the hosts and a broker who would eventually advise him to invest in so-called non-correlated, fixed-income alternative products from the <a target="_blank" class="" href="https://www.investmentnews.com/alternatives/gwg-holdings-files-for-bankruptcy/220355">now-bankrupt firm GWG</a>.Years later, Wilson is still fighting to regain what he lost from that investment. An arbitration decision recently awarded him $267,252 in compensation, including emotional distress damages from the last broker who facilitated the transaction. But the respondent only paid approximately $103,363.40 toward sanctions and the award. After costs, Mr. Wilson will end up with almost no payout, according to his attorney.Fancy restaurants with presentations are a common practice in the industry, says financial planner Michael Murray, adding that there are services that provide mailing lists of people with a certain net worth, and retirees are often on them because it's where wealth tends to be concentrated.But those meals aren't really free, Murray said. They're predominantly set up to sell high-commission products. In GWG's case, brokers earned up to 8% in commissions. What advisors can earn from one of these events pays for the meals and more. Picture a scenario where an advisor signs up $500,000 worth of investments with an 8% commission rate; that's a $40,000 payout. The math is very favorable for those who do this regularly, he added.Meanwhile, invitees feel like the hosts have done something nice for them and there's an implication that they should do something back, Murray noted. "So I think certain people will go to these dinner seminars and almost feel an obligation to work with someone."They're referred to as "free lunch seminars," said Adam Gana, a securities attorney who worked on Wilson's case. They're common in the industry. But Gana says that when brokerage firms offer them, he tells clients to run the other way."We see them all the time," Gana said. "I've represented 3,000 investors over the last 15 years, and in so many of those instances when we're dealing with a horrific product, a non-traded product, a product that's just terrible for investors, it usually starts with a free lunch."<h2 id="74285f86-a363-43ff-b132-9ec411f82f14">Risky business</h2>After the dinner, Wilson and his ex-wife Jean followed up with Escarcega at his office to discuss alternative investment options."We sat down with him, and he went through various opportunities that he could present to us, and we asked for several," Wilson said. "And the one that seemed the most attractive and that he extolled the virtues of the most was GWG. And so we thought about it for several weeks and went back and forth and then ultimately decided to do it."The products were non-publicly traded so-called LifeNotes, high-yield debt securities that paid a 9% monthly interest rate by GWG Holdings, according to documents viewed by Insider. They were based on life insurance policies purchased on the secondary market, with the expectation that death benefits would be paid to GWG's bondholders when the insured died. One brochure, viewed by Insider, advertised them as a "secured investment backed by a large portfolio of high-quality life insurance policies""Escarcega had pitched them as a safer alternative to the volatile stock market that could provide steady dividend payouts while preserving the principal investments, Wilson said."Of course, we want to leave our equity to our children but have some kind of income coming from it while we're still here," Wilson said. "And so that was very attractive to us, that we preserve our equity."Wilson initially purchased $180,000 worth of the notes using funds from his IRA, according to documents viewed by Insider. He later reduced his investment to $158,000 and flipped it to GWG preferred stock. For the next few years, things were looking good. Wilson received payouts monthly. In 2017, he decided to renew his investment, according to documents viewed by Insider.What he didn't know was that by then, Escarcega had been barred from selling securities after misrepresenting investment risks, according to FINRA. So Escarcega used his brother Adrian's license to submit the transactions through AGES Financial Services, according to arbitration documents from Wilson's attorneys. The Escarcegas could not be reached for comment.It was one of many details Wilson wasn't aware of. Thus far, the payouts had always been timely, he said. So, there was no reason to suspect there were problems. But there were. GWG's balance sheet wasn't adding up. FINRA had determined that it hadn't been profitable in over a decade. The firm had been selling new bonds to pay dividends to existing bondholders. The underlying collateral wasn't generating an income and multiple accounting firms refused to audit it, according to the amended statement of claim.The doom loop would eventually come to a screeching halt due to GWG's accounting issues, an SEC investigation, and failure to file its annual SEC report. By 2021, it could no longer sell bonds which led to its bankruptcy by 2022 and the halting of dividend payments, according to the amended statement of claim.Craig McCann, a consultant providing expert testimony in investment cases, including this one, said that GWG's insurance contracts were being overvalued on its balance sheet and the firm was assuming that people would die earlier. As a result, they estimated receiving the death benefits sooner. Simply put, there were not enough benefits being paid on the insurance contracts to cover the interest and principal due."There were lots of signals," McCann said. "There were lots of problems with their SEC filings and lots of reasons to believe that it was imminently going to happen, but most investors were very unsophisticated investors."In 2019, <a target="_blank" class="" href="https://www.investmentnews.com/alternatives/clients-win-another-gwg-bond-claim-this-time-against-b-d/245442">AGES had ended its relationship with GWG</a> due to a change in the company's business model, according to the firm. But Wilson says he was not informed by the firm, <a target="_blank" class="" href="https://www.investmentnews.com/fixed-income/investors-claiming-emotional-distress-damages-win-lawsuit-involving-gwg-bonds/257068">preventing him from selling his shares in time</a> (AGES disputes this). An arbitration panel found that the investment scheme was so egregious that they awarded him $267,252.00 in compensation that included emotional distress damages, according to the order. AGES paid $103,000 for all claimants.<h2 id="9e594bc3-8860-404f-8b63-aeb5d0906705">Risk reward</h2>Wilson's situation is a cautionary tale. He used his IRA to make the investment, so he's also faced with a required minimum distribution, which includes the amount invested in GWG even though it's nominal. He told Insider he must withdraw from other investments to meet the minimum.His case isn't an isolated one. There may have been thousands of brokers selling GWG bonds, based on data pulled from ADV filings as reported by McCann. Wilson says he lives with the guilt of advising his ex-wife and a friend who also invested in the bonds and lost their principal.Truth be told, it's difficult for the average retiree who is not financially savvy to understand the mechanics of many of these alternative investments, even when there are red flags, Murray said. Non-publicly traded investments take time to build capital before generating free cash flow. For those with lower cash reserves, they don't make much sense because they lack liquidity, he added.But Murray also emphasized that not all alternative investments are bad. He just thinks that if you're considering them, you must be financially savvy and have the ability to dig into offering statements, look at fee structures, and related party transactions. Even then, investors should resort to a second opinion from a fiduciary advisor, a CPA, or an attorney.Finally, understand that risk and reward are always tied together. Outsized promises of yields that are much higher than, say, the 10-Year Treasury is a red flag and means there's elevated risk, Murray said.

How a free meal cost an investor his retirement savings

<ul class="summary-list"><li>Reddit filed for an IPO, revealing nearly 10% of its shares are owned by entities related to Sam Altman.</li><li>Many news outlets assumed Altman owned all $435 million in stock, but the fine print tells another story.</li></ul>Last week, not long after Reddit made moves toward a public listing, headlines began to appear about an unexpected figure: <a target="_blank" href="https://www.businessinsider.com/sam-altman-chatgpt-openai-ceo-career-net-worth-ycombinator-prepper-2023-1">Sam Altman</a>.Altman, tech's most in-vogue wunderkind and the CEO of OpenAI, owned nearly 9% of Reddit, multiple outlets, including Business Insider, reported. If <a target="_blank" href="https://www.businessinsider.com/reddit-ipo-valuation-targeting-more-than-5-billion-report-says-2024-1">Reddit were to hit the market at its target price</a> of $5 billion, his stake would be worth an eye-popping $435 million, certain publications extrapolated.But a closer read of Reddit's S-1, the document a company files to the Securities and Exchange Commission when it plans to go public, shows that's not exactly accurate. While Altman does likely own enough Reddit stock — <a target="_blank" href="https://blog.samaltman.com/reddit">he's invested</a> in the company, served on its board, and was even its CEO for an eight-day stint — to make any layperson rich, he doesn't appear to own anywhere near what the headlines proclaimed.According to the cap table in Reddit's filing, "Entities Affiliated with Sam Altman" own an 8.7% stake in the company made up of 789,456 Class A shares and 11,369,103 Class B Shares. But just because the shares are affiliated with Altman doesn't mean they are his.In fact, the document clearly states that "Altman disclaims beneficial ownership of these shares except to the extent of his respective pecuniary interest therein.""This is a legal distinction indicating that while he has control over the voting and dispositive control over these shares, he does not necessarily have a direct economic interest in them, except to the extent that he may benefit financially," Chris Harvey, a venture capital fund attorney at Harvey Esquire APC, told Business Insider over email.A footnote in the document explains that those shares are divided among five different entities: Apollo Projects SPV-B, Altman Holdco, Apollo Projects, Apollo Projects SPV-A, and Hydrazine Capital II.These entities represent different types of funds: Hydrazine Capital II is a venture fund, for example, while SPV is short for special purpose vehicle and is a subsidiary of a larger fund.All of the entities other than Altman Holdco, which is an LLC, must file Form ADVs, a type of disclosure form. A look at the forms reveals that Altman is not the sole or majority owner of these entities' holdings. He's listed as a "related person" — in these cases, an investment advisor. At most, he owns 5% of Hydrazine's holdings and 15% of Apollo's. The rest presumably belongs to the funds' limited partners, whose identities are not known in these cases.The way this shakes out means he owns significantly fewer shares than has been reported. For example, Hydrazine Capital II is listed as owning nearly 9.9 million shares of Reddit. But Altman, at most, owns 5% of Hydrazine Capital II's holdings, or 492,720 of its Reddit shares.Applying the logic to the other entities, BI estimates that Altman's Reddit stock outside of Altman Holdco is worth at most about $25 million based on a $5 billion target IPO valuation. If he is the sole owner of Altman Holdco's 965,128 shares — which can't be determined — that would be another $34.5 million. Based on a $5 billion valuation, his total Reddit equity would be worth, at most, about $60 million. It's a substantial sum but a far cry from the $435 million making headlines.Altman's representative did not respond to requests for comment from Business Insider, and a spokesperson for Reddit declined to comment.The various entities point to a side of Altman — Altman the investor — that has receded from view since he has become known to the public as <a target="_blank" href="https://www.businessinsider.com/sam-altman-openai-staff-loyalty-power-chatgpt-microsoft-2023-11">OpenAI's CEO</a>.Over more than 15 years, Altman has made over 155 investments, according to Pitchbook data. These include investments through advisory firms, of which Altman is the managing director of five, according to Form ADVs filed with the SEC. These include venture fund Hydrazine Capital and Apollo Projects, which he <a target="_blank" href="https://www.businessinsider.com/the-altman-brothers-launch-apollo-to-invest-in-moonshot-companies-2020-7">started with his brothers</a>. Investors in his various vehicles reportedly include The University of Michigan and billionaire venture capitalist <a target="_blank" href="https://www.businessinsider.com/who-is-peter-thiel-svb-facebook-trump-biography-2023-3">Peter Thiel</a>.Between 2014 and 2019, the 38-year-old led startup <a target="_blank" href="https://www.businessinsider.com/sam-altman-openai-distinguished-great-mediocre-founders-ycombinator-2023-9">accelerator Y Combinator, where he oversaw the selection process</a> for the prestigious incubator's startups. His investments in that capacity included Cruise, <a target="_blank" href="https://www.businessinsider.com/helion-energy-fusion-company-backed-by-sam-altman-and-microsoft-2023-5">Helion Energy</a>, and <a target="_blank" href="https://www.businessinsider.com/inside-boom-supersonics-own-symphony-engine-powering-overture-jet-2023-6">Boom Supersonic</a>.It's at Y Combinator — as the cofounder of a startup called Loopt, not as its president — that he first met Steve Huffman and Alexis Ohanian, the Reddit cofounders."I have been a daily reddit user for 9 years—longer than pretty much any other service I still use besides Facebook, Google, and Amazon," Altman <a target="_blank" href="https://blog.samaltman.com/reddit">wrote</a> in 2014, announcing an investment in the company. "I was probably in the first dozen people to use the site, and I shudder to imagine the number of hours I have spent there."Whether $435 million or $60 million, it's fair to say that time is paying off.

No, Sam Altman doesn't actually own half a billion dollars of Reddit stock 

<ul class="summary-list"><li>Rupert Murdoch told Jared Kushner his team said Biden's ads were more creative than Trump's.</li><li>The email exchange, from September 2020, was included in new Dominion court documents.</li></ul>Fox News chief Rupert Murdoch warned Jared Kushner that President Donald Trump's advertisements ahead of the 2020 election may not have been on par with Joe Biden's.The September 2020 <a href="https://twitter.com/isaacstanbecker/status/1633250103581351939/photo/1" target="_blank" rel="nofollow noopener sponsored">email exchange</a> between Murdoch and Kushner, Trump's son-in-law and adviser, was included in newly released court documents in a <a href="https://www.businessinsider.com/tucker-carlson-hannity-laura-ingraham-texted-fox-news-hates-us-2023-3" rel="nofollow sponsored">defamation lawsuit</a> filed against Fox News by Dominion Voting Systems."Jared, Know you are spending less on tv than Biden. However my people tell me his advs are a lot better creatively than yours," Murdoch, who founded <a href="https://www.businessinsider.com/fox-news-hosts-knew-election-conspiracy-theories-false-messages-dominion-2023-2" rel="nofollow sponsored">Fox News</a>, wrote in an email to Kushner about six weeks before the election. "Just passing it on."Kushner responded by saying the Trump campaign had some "new creative" coming and that he would personally be reviewing their content "every week until the end as the real money is starting to be spent on TV and Digital to move voters universes and turn out the base voters."In a follow-up email, Murdoch told Kushner their new Sunday ad was "an improvement" but that one of Biden's was "extremely good," adding: "Or I think so! Will send it."In a statement provided to Insider, a spokesperson for the Fox Corporation said the ad Murdoch was referencing had already been publicly shared on YouTube weeks prior and had aired on TV before he flagged it to Kushner."Dominion has been caught red handed again using more distortions and misinformation in their PR campaign to smear FOX News and trample on free speech and freedom of the press," the statement said.Dominion, an election technology company, is suing Fox News for defamation, claiming the network helped spread election-fraud conspiracy theories about the company. Fox has dismissed the claims and sought to have the lawsuit thrown out.In a filing that was released last week, <a href="https://www.businessinsider.com/murdoch-gave-kushner-confidential-information-about-biden-dominion-2023-2" rel="nofollow sponsored">Dominion accused Murdoch</a> of sharing "confidential information" with Kushner ahead of the election."During Trump's campaign, Rupert provided Trump's son-in-law and senior advisor, Jared Kushner, with Fox confidential information about Biden's ads, along with debate strategy (providing Kushner a preview of Biden's ads before they were public)," lawyers for Dominion wrote.Fox at the time said Dominion was "mischaracterizing the facts."Experts previously told Insider's Madison Hall and Jacob Shamsian that if the allegations were true Murdoch could be hit with fines by the <a href="https://www.businessinsider.com/rupert-murdoch-possible-fines-fec-jared-kushner-leak-biden-ads-2023-3" rel="nofollow sponsored">Federal Election Commission</a>, as providing that information to the Trump campaign could be seen as an "in-kind" donation that wasn't reported.

Rupert Murdoch told Jared Kushner his team said Biden's ads were more creative than Trump's ahead of the election

<ul class="summary-list"><li>Rep. Matt Cartwright is running against Republican Jim Bognet in Pennsylvania's 8th Congressional District. </li><li>The 8th District encompasses parts of Luzerne County, a predominantly white, working-class area in eastern Pennsylvania. </li></ul>Five-term Democratic Rep. Matt Cartwright faces off against Republican Jim Bognet in Pennsylvania's 8th Congressional District.<h2>Pennsylvania's 8th Congressional District candidates</h2>Cartwright is a member of the House Committee on Appropriations. In 2012, Cartwright <a href="https://www.reuters.com/article/us-usa-campaign-pennsylvania/altered-districts-cut-short-pennsylvania-political-careers-idUKBRE83N05J20120426">defeated 10-term incumbent Rep. Tim Holden</a> — Pennsylvania's longest-serving congressman — in the Democrat primary election. Prior to his time in Congress, the now-61-year-old congressman <a href="https://www.law.upenn.edu/live/news/2440-matt-cartwright-l86-takes-seat-in-us-congress">worked as an attorney for 25 years</a>. In 2020, Cartwright won a 5th term, <a href="https://ballotpedia.org/Pennsylvania%27s_8th_Congressional_District_election,_2020">defeating Bognet</a> by a narrow margin of 3.6 percentage points. His victory came even when former President Trump carried the district against President Joe Biden. As a result, Cartwright became one of seven Democratic incumbents to win despite Trump prevailing over Biden in their districts. Bognet, Cartwright's two-time challenger, is a former Trump administration appointee in the Export-Import Bank. He secured the endorsement of Trump in May. "Jim served in my Administration and helped bring manufacturing jobs back to Northeast Pennsylvania. In Congress, he will fight to Grow our Economy, Build the Wall, Defend the Second Amendment, and Support our Brave Military, Vets and Law Enforcement," Trump said in his endorsement. <h2>Voting history for Pennsylvania's 8th Congressional District</h2>Pennsylvania's 8th Congressional District includes parts of Luzerne County, a <a href="https://www.axios.com/local/philadelphia/2022/08/01/house-races-to-watch-pennsylvania">predominantly white, working-class</a> area in eastern Pennsylvania. It also encompasses Scranton, the largest city in northeastern Pennsylvania and where Biden was born.Trump had a 4 percentage point margin of victory over President Biden under the district's previous boundaries in 2020 before it was <a href="https://projects.fivethirtyeight.com/redistricting-2022-maps/pennsylvania/">redrawn to take in more of Monroe County</a> in redistricting following the 2020 Census, making it slightly less Republican. <h2>The money race</h2>According to <a href="https://www.opensecrets.org/races/summary?cycle=2022&amp;id=PA08">OpenSecrets</a>, Cartwright has raised $4.9 million, spent $4.7 million, and has $386,695 of cash on hand, as of October 19. His opponent, Bognet, has raised $2.4 million, spent $2.2 million, and has $411,717 of cash still left to spend, as of October 19.As of early November, super PACs, national party committees, and other non-candidate groups have <a href="https://www.opensecrets.org/races/outside-spending?cycle=2022&amp;id=PA08&amp;spec=N">spent</a> about $12.8 million to adv0cate for or against the candidates.<h2>What experts say</h2>The race between Cartwright and Bognet is rated as a "toss-up" by <a href="https://insideelections.com/ratings/house">Inside Elections</a>, a "toss-up" by <a href="https://www.cookpolitical.com/ratings/house-race-ratings">The Cook Political Report</a>, and a "toss-up" by <a href="https://centerforpolitics.org/crystalball/2022-house/">Sabato's Crystal Ball at the University of Virginia Center for Politics</a>.

Democratic Rep. Matt Cartwright faces off against Trump-endorsed Republican Jim Bognet in Pennsylvania's 8th Congressional District election

<ul class="summary-list"><li>Rep. Matt Cartwright is running against Republican Jim Bognet in Pennsylvania's 8th Congressional District. </li><li>The 8th District encompasses parts of Luzerne County, a predominantly white, working-class area in eastern Pennsylvania. </li></ul>Five-term Democratic Rep. Matt Cartwright faces off against Republican Jim Bognet in Pennsylvania's 8th Congressional District.Polls closed in the state at 8 p.m. Eastern Standard Time. 2022 General Embeds <h2>Pennsylvania's 8th Congressional District candidates</h2>Cartwright is a member of the House Committee on Appropriations. In 2012, Cartwright <a href="https://www.reuters.com/article/us-usa-campaign-pennsylvania/altered-districts-cut-short-pennsylvania-political-careers-idUKBRE83N05J20120426">defeated 10-term incumbent Rep. Tim Holden</a> — Pennsylvania's longest-serving congressman — in the Democrat primary election. Prior to his time in Congress, the now-61-year-old congressman <a href="https://www.law.upenn.edu/live/news/2440-matt-cartwright-l86-takes-seat-in-us-congress">worked as an attorney for 25 years</a>. In 2020, Cartwright won a 5th term, <a href="https://ballotpedia.org/Pennsylvania%27s_8th_Congressional_District_election,_2020">defeating Bognet</a> by a narrow margin of 3.6 percentage points. His victory came even when former President Trump carried the district against President Joe Biden. As a result, Cartwright became one of seven Democratic incumbents to win despite Trump prevailing over Biden in their districts. Bognet, Cartwright's two-time challenger, is a former Trump administration appointee in the Export-Import Bank. He secured the endorsement of Trump in May. "Jim served in my Administration and helped bring manufacturing jobs back to Northeast Pennsylvania. In Congress, he will fight to Grow our Economy, Build the Wall, Defend the Second Amendment, and Support our Brave Military, Vets and Law Enforcement," Trump said in his endorsement. <h2>Voting history for Pennsylvania's 8th Congressional District</h2>Pennsylvania's 8th Congressional District includes parts of Luzerne County, a <a href="https://www.axios.com/local/philadelphia/2022/08/01/house-races-to-watch-pennsylvania">predominantly white, working-class</a> area in eastern Pennsylvania. It also encompasses Scranton, the largest city in northeastern Pennsylvania and where Biden was born.Trump had a 4 percentage point margin of victory over President Biden under the district's previous boundaries in 2020 before it was <a href="https://projects.fivethirtyeight.com/redistricting-2022-maps/pennsylvania/">redrawn to take in more of Monroe County</a> in redistricting following the 2020 Census, making it slightly less Republican. <h2>The money race</h2>According to <a href="https://www.opensecrets.org/races/summary?cycle=2022&amp;id=PA08">OpenSecrets</a>, Cartwright has raised $4.9 million, spent $4.7 million, and has $386,695 of cash on hand, as of October 19. His opponent, Bognet, has raised $2.4 million, spent $2.2 million, and has $411,717 of cash still left to spend, as of October 19.As of early November, super PACs, national party committees, and other non-candidate groups have <a href="https://www.opensecrets.org/races/outside-spending?cycle=2022&amp;id=PA08&amp;spec=N">spent</a> about $12.8 million to adv0cate for or against the candidates.<h2>What experts say</h2>The race between Cartwright and Bognet is rated as a "toss-up" by <a href="https://insideelections.com/ratings/house">Inside Elections</a>, a "toss-up" by <a href="https://www.cookpolitical.com/ratings/house-race-ratings">The Cook Political Report</a>, and a "toss-up" by <a href="https://centerforpolitics.org/crystalball/2022-house/">Sabato's Crystal Ball at the University of Virginia Center for Politics</a>.

Live Results: Democratic Rep. Matt Cartwright faces off against Trump-endorsed Republican Jim Bognet in Pennsylvania's 8th Congressional District election

<ul class="summary-list"><li>In April 2022, The New York Times reported Jared Kushner received $2.5 billion in Saudi-backed funds.</li><li>A new Washington Post report reveals how Kushner's company concealed the source of the funds.</li></ul>Immediately after leaving the White House, former Senior Adviser Jared Kushner created a company that would eventually become a private equity firm with ties to Saudi Crown Prince Mohammed bin Salman.But because of SEC rules on reporting assets from investors of private equity funds, Kushner was able to legally conceal the identity of his investors and list them only as "non-United States persons" according to a new report from the Washington Post. The New York Times <a href="https://www.nytimes.com/2022/04/10/us/jared-kushner-saudi-investment-fund.html" target="_blank" rel="noopener">reported in April 2022</a> that Kushner — who worked on Middle East policy under former President Donald Trump — was able to secure over $2.5 billion in funds for his company Affinity Partners.Kushner also reportedly tried to leverage his relationship with other Middle Eastern <a href="https://www.businessinsider.com/kushner-investment-from-the-middle-east-with-mixed-success-nyt-2021-11">countries like the United Arab Emirates to secure funds for his firm, but this came with little success.</a>The largest share of money came from the $620 billion Public Investment Fund led by MBS, who personally overstepped recommendations by a Saudi panel <a href="https://www.businessinsider.com/jared-kushner-private-equity-firm-funding-from-saudi-arabia-report-2022-4">advising him against investing in the firm</a>, the Times reported.In 2018, MBS reportedly bragged that <a href="https://www.businessinsider.com/saudi-crown-prince-jared-kushner-relationship-2018-3">Kushner was "in his pocket."</a>According to the Post, on <a href="https://reports.adviserinfo.sec.gov/reports/ADV/315482/PDF/315482.pdf" target="_blank" rel="noopener">a copy of Kushner's Form ADV</a>, an SEC form to register investment ventures, Kushner also lists the client of the $2.5 billion in funds under "Pooled investment vehicles as clients" rather than under "Sovereign wealth funds and foreign official institutions." Chad Mizelle, an adviser to Kushner's company, told the Post in a statement that this was the correct designation, while the SEC declined to comment.The form is listed under A Fin Management, which later transformed into Affinity Partners, the Post reported. In the form, Kushner lists Affinity as an "other business name."Currently, the SEC and the Financial Crimes Enforcement Network, an <a href="https://www.fincen.gov/about/mission" target="_blank" rel="noopener">enforcement branch of the US Treasury</a>, do not require investment advisers to report or verify the identities of investors or maintain programs that would deter money laundering schemes, <a href="https://www.warner.senate.gov/public/_cache/files/d/7/d7995c59-660d-43f1-bc6e-f1259ca0a26f/4B993E920232BF5068BCA4EFA3A5F5C1.money-laundering.pdf" target="_blank" rel="noopener">according to a letter to the Treasury Department</a> sent by Democratic Senators in the wake of <a href="https://www.motherjones.com/politics/2022/05/vladmir-putin-oligarchs-money-laundering-private-equity/" target="_blank" rel="noopener">Russian oligarchs using US investment firms</a> to hide their financial activities.According to a <a href="https://archive.org/details/fbi-intelligence-bulletin-threat-actors-likely-use-private-investment/page/2/mode/2up" target="_blank" rel="noopener">leaked memo from the FBI in 2020</a>, "threat actors likely use private placement of funds, including investments offered by hedge funds and private equity firms, to launder money."Sen. Ron Wyden, the chair of the Senate Finance Committee, told the Post that the concealment of Kushner's money sources raised "very serious issues" about his financial ventures."Following the money is the premier issue," Wyden told the Post. "That's how you understand potential conflicts of interest."Following the revelation in 2022 of funds secured by Kushner, Wyden was one of the senators <a href="https://www.finance.senate.gov/chairmans-news/wyden-continues-investigation-into-kushner-conflicts-of-interest-influence-on-us-foreign-policy" target="_blank" rel="noopener">who investigated</a> the conflicts of interest between Kushner and investments from Middle Eastern countries like Saudi Arabia and Qatar.Kushner and his father-in-law, Trump, have received a fair share of scrutiny for their ties to the Saudi prince and his allies. Kushner reportedly became close to the crown prince during the Trump presidency, with the Times reporting that he and MBS texted while <a href="https://www.nytimes.com/2018/12/08/world/middleeast/saudi-mbs-jared-kushner.html" target="_blank" rel="noopener">addressing each other by their first names.</a>Trump, on the other hand, embraced Saudi Arabia as an ally during his administration and <a href="https://www.businessinsider.com/trump-woodward-i-saved-his-ass-mbs-khashoggi-rage-2020-9">bragged that he protected the crown prince</a> from scrutiny over the killing of Washington Post columnist Jamal Khashoggi.In addition to Kushner's financial ties to the Saudi government, Trump's LIV golf tournament is being funded for an undisclosed amount by the Saudi Arabian government. The relationships between Kushner and Trump and the Saudi Arabian government persist despite criticisms of the Crown Prince by human rights organizations — the de-facto ruler of Saudi Arabia — of <a href="https://www.businessinsider.com/trump-defended-hosting-the-saudi-backed-liv-golf-tournament-2022-10">abuses in the country</a>, including its <a href="https://www.businessinsider.com/womens-rights-in-saudi-arabia-driving-ban-2018-3" rel="">treatment of women</a> and <a href="https://www.businessinsider.com/saudi-student-sentenced-34-years-retweeting-dissidents-us-following-case-2022-8" rel="">political dissidents</a>. The <a href="https://www.washingtonpost.com/world/national-security/cia-concludes-saudi-crown-prince-ordered-jamal-khashoggis-assassination/2018/11/16/98c89fe6-e9b2-11e8-a939-9469f1166f9d_story.html" target="_blank" rel="nofollow noopener">CIA also believes the country is responsible</a> for the murder of Khashoggi.The SEC and Affinity Partners did not immediately respond to Insider's request for comment.

Jared Kushner's private equity firm concealed the origins of Saudi-backed funds and used the SEC's own rules to help them do it, report says

<ul><li>The ad signs off by urging viewers to be on the alert for possible child marriages happening around them and to call 1098 to report such cases.</li><li>It is conceptualised by 82.5 Communications.</li></ul><keyword id="6390829" type="General" weightage="20" keywordseo="child-marriage" source="Orion">Child marriage</keyword> is a long-standing problem in India. The COVID-19 pandemic has only worsened it. Long stretches of school closure, isolation from friends and support networks, and rising poverty, have added fuel to a fire India was already struggling to put out. To prompt immediate action from a vigilant society, <keyword id="3421701" type="General" weightage="20" keywordseo="Akshara-Centre" source="Orion">Akshara Centre</keyword>, one of India’s leading NGOs for women and children, in collaboration with the Government of India’s <keyword id="173679" type="General" weightage="20" keywordseo="Ministry-of-Women-and-Child-Development" source="Orion">Ministry of Women and Child Development</keyword>, have commissioned a powerful ad film, #JustAChild. <div type="Youtube" id="Z2WrShptVfk" title="#JustAChild" thumbUrl="https://i.ytimg.com/vi/Z2WrShptVfk/mqdefault.jpg"></div> Conceptualized by 82.5 Communications, the ad features what seems like a normal wedding at first glance. Curiously, though, the bride's wedding finery and even her bindi are being removed. At the end, we realise that the bride is actually an underage girl and she is being rescued. Directed by well-known filmmaker Pradeep Sarkar, the short yet impactful ad features the powerful vocals of actress-singer Ila Arun, singing a snippet of the iconic song ‘Babul Mora Naihar Chhooto Jaye’ written by Nawab Wajid Ali Shah. In the context of a wedding, this song speaks to the sadness a bride feels because she has to leave her parent's home. In this case, the lyrics are all the more poignant because she is a child bride. But, fortunately, there is a happy ending to her story as she is rescued. The ad signs off by urging viewers to be on the alert for possible child marriages happening around them and to call 1098 to report such cases. Because every call can help rescue an underage girl being forcibly married off. The film is part of a larger campaign, #JustAChild, that aims at raising awareness about the issue across India. The official #JustAChild film was released by the Honourable Minister Adv. Yashomati Thakur in a national event organised by MAVIM and UN Women India. Popular actress, Sakshi Tanwar has extended support to the campaign. Speaking about the ad, Sumanto Chattopadhyay, Chairman and CCO, 82.5 Communications-India, said, “Amid the many crises of the pandemic, child marriage is one serious problem that was not getting enough attention. Our attempt is to correct that. Director Pradeep Sarkar and singer Ila Arun have helped us create a film with a strong impact. We hope it will be seen widely and its message taken to heart." Mayur Varma, ECD and Creative Head, Mumbai &amp; Kolkata, 82.5 Communications added, “The attempt is to use unmissable storytelling to make the message of ending child marriage unmissable.”

Ministry of Women and Child Development and Akshara Centre launch a new ad that urges the audience to report child marriages at 1098

There are six Assembly constituencies in the Mumbai North Central Lok Sabha constituency namely Vileparle, Chandivali, Kurla, Kalina, Vandre East, and Vandre West. The Kurla seat is reserved for SC candidates. The winner during the 2019 Lok Sabha elections from the Mumbai North Central constituency was Poonam Mahajan Alias Poonam Vajendla Rao of the BJP who secured 186,771 votes more than Dutt Priya Sunil of the INC. For the upcoming Vidhan Sabha elections 2019, The Congress Party and BJP are fielding Jayanti Jivabhai Siroya and Adv. Parag Alavani from the Vile Parle seat. The Chandivali seat will see Mohd Aarif Naseem Khan of INC contesting. From the Kalina constituency, Shiv Sena is fielding Sanjay Putnis against INC’s George Abraham. Mangesh Kudalkar will field for Shiv Sena from the Kurla seat. INC is fielding Zishan Ziyauddin Siddiqui and Asif Ahmed Jakeriya from Vandre East and Vandre West respectively. From Vandre West BJP is fielding Adv. Ashish Shelar. The election date for Maharashtra assembly is October 21, 2019 and the counting date is October 24, 2019. During the 2014 assembly elections, BJP’s Parag Alavani won the seat from the Vile Parle constituency by securing 32435 more votes than Shashikant Govind Patkar of SHS. The Chandivali winner was Khan Mohd. Arif (Naseem) of INC who bagged 29469 votes more than Singh Santosh Ramniwas of SHS. Kurla (SC) seat winner was Mangesh Kudalkar of SHS. He secured 12679 votes more than that of Vijay Baburao Kamble of BJP. From the Kalina seat, Sanjay Govind Potnis of SHS secured 1297 votes more than the BJP candidate Singh Amarjeet Awadhnarayan and won the seat. The Vandre East constituency winner was SHS candidate Prakash (Bala) Sawant who secured 15597 votes more than Krishna Dhondu Parkar of BJP. From the Vandre West seat, Av. Ashish Shelar of BJP got 26911 votes more than the runner up candidate of INC Baba Ziauddin Siddique and became the MLA.

Vileparle, Chandivali, Kurla, Kalina, Vandre East and Vandre West vidhan sabha election results and candidate Names

NCP winner candidate list for Maharashtra state elections

<ul class="summary-list"><li><keyword id="55104" type="PERSON" weightage="60" keywordseo="David-Letterman">David Letterman</keyword>'s 1998 "<keyword id="431711" type="ENTERTAINMENT" weightage="60" keywordseo="Late-Show">Late Show</keyword>" interview with <keyword id="6354614" type="UNKNOWN" weightage="60" keywordseo="Jennifer-Aniston">Jennifer Aniston</keyword> has resurfaced online. </li><li>Midway through their conversation, the host sucked on a strand of the actress' hair. </li><li>The interaction is the latest of Letterman's old interviews to be criticized by social media users. </li></ul>A 1998 "Late Show" interview, during which <a href="https://www.insider.com/category/david-letterman">David Letterman</a> sucked on a strand of <a href="https://www.insider.com/category/jennifer-aniston">Jennifer Aniston</a>'s hair, recently resurfaced online.Several of the 73-year-old television personality's old interviews have been re-examined in a new light following the release of <a href="https://www.insider.com/inside-britney-spears-conservatorship-freebritney-movement-2020-12">The New York Times' documentary "Framing Britney Spears,"</a> which chronicles the media's callous treatment of the pop star at the apex of her fame. Less than a week after Letterman's 2013 on-air conversation with <a href="https://www.insider.com/category/lindsay-lohan">Lindsay Lohan</a> <a href="https://www.insider.com/fans-lash-out-of-david-letterman-over-interview-lindsay-lohan-2021-2">went viral</a> for the host's "insensitive" questions, his interview with Aniston began making rounds online. The interview seemed to start out friendly, despite Letterman's request to know if the "Friends" actress, who was around 29 at the time, was "naked" during her anecdote about meeting fans in a steam room. Things took an unexpected turn, however, when the host paused their conversation and said: "Forgive me if this is rude. I just want to try one thing."Letterman scooted his chair behind Aniston, put his hand on her shoulder, and attempted to put a piece of her hair in his mouth.The actress squealed and asking what he was doing. Instead of answering, Letterman sucked the strand until it dropped from his mouth. He then handed Aniston a napkin to dry her hair."I'm sorry," he said, adding, "Something to do with the steam room."Letterman joked that they'd edit out the moment, and Aniston replied, "That was something that I'll never forget."When Aniston appeared shaken in the minutes that followed, Letterman told her she seemed "traumatized." She responded, "I am."Representatives for Letterman did not immediately respond to Insider's request for comment. <h2>Fans reacted to Letterman's interview with Aniston on social media</h2>It's been over 20 years since Aniston's 1998 appearance on "Late Show" aired on television, but many people watched it for the first time when it circulated online in 2021.Some viewers reacted with confusion, as the moment seemed to come out of left field.Others called it a "disgusting" and "creepy" invasion of Aniston's space. Aniston's 1998 appearance on "Late Show" wasn't her last time visiting the late-night set. The "Cake" actress sat down for interviews with Letterman on his show <a href="https://www.youtube.com/watch?v=WM-VOeLOe8c">multiple times</a> in the years that followed.

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