Wyden Launches Inquiry Into Trump-Connected Blank Check Company Planning Venezuela Investments

Wyden Launches Inquiry Into Trump-Connected Blank Check Company Planning Venezuela Investments

Yorkville International Capital Raised $200M for Investments in Venezuela, Latin America; Yorkville's Parent Company Has Multi-Billion-Dollar Financial Relationship With Trump Family

Washington, D.C. - Senate Finance Committee Ranking Member Ron Wyden, D-Ore., launched an inquiry today into a blank-check company called Yorkville International Capital that has close ties to Donald Trump's family and businesses and raised $200 million for the purpose of investing in Venezuela and Latin America. Yorkville is controlled by a firm whose financial ties to Trump businesses amount to billions of dollars, and it shares a CEO with Trump Media & Technology Group. Senator Wyden questioned Yorkville's president over his company's Trump ties and concerns that investments in Venezuela could violate international sanctions and human rights.

"Both Yorkville Advisors and persons involved with Yorkville International Capital have deep business ties to Donald Trump and the Trump family. Now it appears that following the Trump administration's decision to loosen sanctions on Venezuela, Yorkville Advisors is cashing in," Senator Wyden wrote to Mark Angelo, president of Yorkville Advisors Global. "Due to the opacity of shell companies like Yorkville International Capital, I have strong concerns about potential conflicts of interest with the Trump administration and what could amount to a blank check to funnel hundreds of millions of dollars to strengthen Donald Trump's businesses. Given the significant overlap between Yorkville International Capital, Yorkville Advisors, and Donald Trump's personal business interests, transparency is required to ensure that adequate due diligence policies are in place, there is appropriate separation between these entities, and that Yorkville Advisors isn't being afforded special privilege as a result of its relationships."

The complete text of the letter is available for download here. Senator Wyden's letter posed the following questions:

1. What contact have members of Yorkville Advisors, or officers and directors of Yorkville International Capital, had with members of the Trump administration in relation to Yorkville International Capital?
2. What contact have members of Yorkville Advisors, or officers and directors of Yorkville International Capital, had with members of the Trump family in relation to Yorkville International Capital?
3. Do any marketing materials related to Yorkville International Capital mention, in any way, President Trump, the Trump family, or any associated Trump family businesses?
   • Please provide copies of any marketing materials related to Yorkville International Capital.
4. Has Yorkville International Capital or Yorkville Advisors sought or received guidance from the Department of the Treasury's Office of Foreign Assets Control (OFAC) regarding the potential acquisition or merger with companies operating in Venezuela?
   • Has Yorkville Advisors or Yorkville International Capital sought or received a specific license from OFAC?
5. For every Venezuelan target under consideration, what is Yorkville's sanctions due-diligence finding on direct or indirect Specially Designated Nationals and Blocked Persons (SDN) exposure (e.g., Petróleos de Venezuela, S.A. and state-controlled entities) under OFAC's "50 Percent Rule" and related control/benefit analysis? Please produce:
   1. Full beneficial-ownership charts to natural persons for the target and all material subsidiaries;
   2. Screening methodologies and data sources; and
   3. Internal memoranda or third-party opinions addressing SDN status of minority stakes, trusts, or layered offshore structures.
6. How will Yorkville structure any contemplated transactions to avoid prohibited "facilitation" by U.S. persons and prevent direct or indirect provision of funds, goods, or services to blocked parties, including through offshore vehicles, intermediaries, payment chains, or digital assets?
7. Is Yorkville International Capital considering acquisitions in Venezuelan mining or extractive industries?
8. What specific human rights and anti-corruption due diligence will Yorkville International Capital undertake prior to any acquisition or merger?
9. Given the potential conflicts of interest, please describe Yorkville International Capital's due diligence process when selecting potential target companies.
10. Have any officers or directors of Yorkville International Capital or Yorkville Advisors received payment or otherwise had non-monetary involvement with Blue Water Acquisition Corp. IV?

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