Secret Gulf Funds: Investigation Raises Questions About Netanyahu and Jared Kushner

An investigation published in connection with an upcoming book by American journalist Matthew Cole has raised questions about alleged secret financial arrangements involving Israeli Prime Minister Benjamin Netanyahu, former White House adviser Jared Kushner and wealthy political figures in the Gulf.

The allegations, reported in excerpts from Cole’s book published by Vanity Fair, describe a network of bank accounts that allegedly gave Kushner access to substantial sums originating from the United Arab Emirates (UAE) and Saudi Arabia during Donald Trump’s first presidency. The reported arrangements could raise questions about financial transparency, potential conflicts of interest and the boundaries between private financial relationships and official diplomacy.

Kushner and people associated with him have rejected the allegations, while former US ambassador to Israel David Friedman has also denied involvement in the alleged scheme. The claims remain allegations presented in an investigative report, rather than established findings of wrongdoing.

Investigation Alleges Transfers Worth Billions

According to Cole’s account, funds amounting to approximately $2 billion were associated with at least two bank accounts linked to Kushner. The reported arrangements involved figures including UAE President Mohamed bin Zayed Al Nahyan and Saudi Crown Prince Mohammed bin Salman.

The investigation describes one account held at First Abu Dhabi Bank and associated with the Watani Al Emarat Foundation, a UAE-backed charitable organisation. Kushner was reportedly authorised to access the account, although the report distinguishes that access from legal ownership of the funds.

The alleged financial network was presented as part of a broader effort to advance political and diplomatic objectives in the Middle East. However, the precise arrangements, the intended beneficiaries and the extent of any official authorisation remain central questions raised by the reporting.

Netanyahu Allegedly Advised on a $1 Billion Transfer

One of the most sensitive claims concerns a transfer of approximately $1 billion reportedly routed through Azerbaijan to Israel in 2018.

According to Cole’s investigation, Netanyahu allegedly encouraged Kushner to place the money in an account at the Bank of Israel, where it could appear to be held as government funds rather than money intended for the American adviser’s personal benefit.

The report further alleges that Netanyahu wanted advance notice of transactions involving the account. Communications were purportedly facilitated through Friedman, who served as US ambassador to Israel at the time.

Friedman has categorically denied knowing about or participating in such an arrangement. Kushner’s legal representative has also rejected the allegations, stating that the accounts described in the reporting did not exist.

These denials are significant because the claims concern not only the movement of large sums of money but also the possible involvement of senior political figures in arrangements that, if substantiated, could raise legal and ethical concerns.

Dutch Intelligence Reportedly Identified Financial Links

The investigation also describes a separate intelligence operation involving Dutch specialists who allegedly obtained access to information displayed on Kushner’s mobile phone.

According to the account, investigators examining the device’s activity identified a bank account in the UAE that had reportedly received substantial transfers linked to Gulf sources.

The alleged discovery formed part of a wider examination of financial relationships involving Kushner and influential figures in the region. The published material does not, by itself, establish that every reported transaction was unlawful or that the people named committed a criminal offence.

The intelligence-related claims add another dimension to the controversy, raising questions about how sensitive financial information was obtained and what it may reveal about relationships between political advisers and foreign governments.

Financial Allegations Intersect With Middle East Diplomacy

Cole’s reporting places the alleged financial arrangements within the context of diplomatic initiatives pursued during Trump’s first administration. Kushner played a prominent role in the administration’s Middle East policy, including efforts that preceded the 2020 Abraham Accords between Israel and several Arab states.

The agreements marked a major shift in regional relations by establishing or formalising diplomatic ties between Israel and countries including the UAE. The investigation raises questions about whether alleged financial relationships overlapped with these diplomatic efforts.

However, the reported claims do not independently establish that the alleged transfers determined specific diplomatic decisions or that the Abraham Accords resulted from improper financial arrangements. Such conclusions would require additional evidence.

The case nevertheless highlights the scrutiny that can arise when private financial interests, government access and international diplomacy intersect.

Questions Remain Over Transparency and Accountability

The allegations place renewed attention on the financial disclosure obligations of senior political advisers, particularly when they maintain relationships with foreign leaders or entities linked to overseas governments.

Determining whether any rules were breached would require establishing the ownership and purpose of the accounts, the origin and destination of the funds, the authorisations involved and the legal obligations applicable to the individuals concerned at the time.

For now, the investigation has introduced serious claims that those named have disputed. Further documentary evidence, official inquiries or legal proceedings would be needed to establish whether the alleged arrangements occurred as described and whether they violated any applicable laws.

The central issue remains unresolved: whether the financial relationships described in the investigation were legitimate private or diplomatic arrangements, or whether they involved undisclosed interests that warranted legal scrutiny.