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The surprise deal, which would join the venerable PGA Tour and a rival Saudi-funded golf start-up, LIV, was announced in June. The Saudi sovereign wealth fund, called the Public Investment Fund, or PIF, is controlled by the Saudi government. The Saudi Embassy did not immediately respond to a request for comment on the subpoena, which names the Public Investment Fund's New York-based U.S. subsidiary, USSA International. This summer's announcement of the PGA-Saudi golf deal ended a legal battle between the two rivals. Blumenthal said available public records indicate the Saudi sovereign wealth fund has expanded its investments in the United States from $2 billion in 2018 to $35 billion now.
Persons: Sen, Richard Blumenthal's, al, LIV, ” Blumenthal, Blumenthal, , , Crown Prince Mohammed bin Salman Organizations: WASHINGTON, Saudi, PGA, Connecticut, Senate, PGA Tour, Public Investment Fund, Public Investment, United, Saudi Embassy, USSA, Crown Locations: United States, Saudi, York, San Francisco, Saudi Arabia
Sen. Richard Blumenthal is moving ahead with new legislative efforts to combat telemarketing scams that have raised millions of dollars while pretending to represent political and charitable causes. Blumenthal announced on Monday a new oversight and legislative fight to take on those that use telemarketing calls, online scams, and other schemes to effectively steal millions of dollars from donors. Contributors think they are donating to real causes but they're tricked into giving to fake organizations, with their leaders ending up keeping the money for themselves. The Connecticut Democrat's first step was to send letters to the chairs of the Federal Election Commission and the Federal Trade Commission as part of his larger inquiry. He wrote a similar letter to FTC chair Lina Khan.
Persons: Sen, Richard Blumenthal, Blumenthal, they're, Dara Lindenbaum, Lina Khan Organizations: Connecticut Democrat's, Commission, Federal Trade Commission Locations: Connecticut
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