Connecticut GOP candidate acknowledges work in Saudi Arabia

HARTFORD, Conn. (AP) — For months, Bob Stefanowski, the Republican prospect for governor in Connecticut, declined to reveal the shoppers of his valuable company consulting firm, saying he had a duty to buyers to retain certain issues private.

Democrats wielded the lack of transparency like a cudgel, stating Stefanowski will have to be hiding anything.

Now, at least a single factor of his do the job has been uncovered. Stefanowski has acknowledged for the very first time that he has carried out consulting get the job done associated to a proposed futuristic metropolis in Saudi Arabia, backed by Saudi Crown Prince Mohammed bin Salman.

Stefanowski confirmed to Hearst Connecticut Media, in a story released Wednesday, that he has been associated with the NOEM project since 2019.

His acknowledgement came right after staying introduced with paperwork exhibiting he met with major executives of the planned eco-friendly power city, including an e-mail sent in 2018 that referred to a meeting he experienced in London with an individual included with the Saudi state-run investment fund.

Stefanowski advised Hearst he did not do the job instantly with the Saudi govt or the expense fund.

“Just because you meet with a state does not indicate you concur with all their insurance policies and processes,” he reported. “This is a environmentally friendly electricity job that could aid the globe. That’s what it was restricted to.”

He stated he proceeds to check with on the venture but has “scaled down” his involvement all through his marketing campaign for governor.

A concept was still left looking for comment with his marketing campaign, which was envisioned to challenge a assertion later on Wednesday.

Saudi Arabia has a complicated romantic relationship with the U.S.

Human rights advocates have condemned the Persian Gulf country for oppressing dissent and the 2018 killing of U.S.-dependent journalist Jamal Khashoggi.

President Joe Biden on Tuesday there would be “consequences” for Saudi Arabia for backing new oil manufacturing moves that ended up seen as likely to assist Russia in its war with Ukraine.

However the kingdom has also been a military and diplomatic companion and is found as a counterbalance to Iran&#8217s impact in the location to Iran.

Connecticut Democrats, which includes Gov. Ned Lamont&#8217s campaign, have criticized Stefanowski for not revealing his consulting purchasers. “There&#8217s no telling whose interests he genuinely signifies,” Lamont&#8217s campaign explained in 1 prepared statement.

Stefanowski, 60, is an accountant and money analyst who has penned two guides on mergers and acquisitions. He when worked as the CEO of a payday bank loan enterprise and has also labored for Standard Electric and investment decision bank UBS, among other entities.

Stefanowski has explained formerly that he would release what he could “ethically and legally” present to the community about his consulting customers.

“In a consulting firm, there is constantly confidential info,” he explained to reporters before this yr.

3 many years of tax files unveiled in September show Stefanowski and his wife Amy attained a complete of $36.8 million and have a few minimal liability businesses, such as one particular termed Lolo Consulting.

His campaign mentioned in a assertion that Lolo Consulting offers companies together with “merger & acquisition and thanks diligence guidance, corporate approach and other typical consulting products and services.” Also, Lolo has suggested on “acquisitions and joint ventures in the financial providers, wellness treatment and vitality sectors,” according to the assertion.

Susan Haigh, The Related Push

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