I commented on Pine Island before, a rather interesting financial construction meant to advance the careers of key Biden people. Now the money is coming home.
Pine Island Acquisition Corp., a special purpose acquisition company, was first described in September to investors in a prospectus featuring its direct affiliation with the investment firm, Pine Island Capital Partners. The document was filed with the Securities and Exchange Commission as Biden surged in the polls ahead of President Donald Trump.
“We believe that with our access, network and expertise, we are well-suited to take advantage of the current and future opportunities present in the aerospace, defense and government services industries,” the SEC filing said at the time.
Future opportunities indeed.
Pine Island’s team includes Tony Blinken, Biden’s choice to be secretary of State, and Ret. Gen. Lloyd Austin, his nominee for Defense secretary.
Biden recently issued a press release/op-ed indicating why he picked Austin. The only two words that should have been there, but weren’t, were Pine Island.
Since the initial pitch, the SPAC has raised over $218 million. Records from November indicate that at least two big Wall Street players took ownership stakes in it.
Why would they do that?
The firm’s portfolio includes Precinmac and InVeris, two companies with ties to the aerospace and defense industries.
Oh. Let the incredible corruption roll.
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