Trump donor allegedly used embezzled money to support ex-president’s campaign and lead lavish lifestyle

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Richard Kofoed, a soap opera Californian entrepreneur, looks like a big hit on social media. One photo shows him sipping rare bourbons, including Old Rip Van Winkle and George T. Stagg, with Kentucky Senator Rand Paul at the Trump International Hotel in Washington, DC Another photo shows him mingling to parliamentary minority leader Kevin McCarthy. A third post shows Kofoed and his wife, Stacy, posing with a line of dead pheasants they were hunting with Governor Kristi Noem of South Dakota. Then there’s the photo every die-hard Trump fan wants: a photo of Kofoed and his family alongside a beaming Donald Trump, displaying his signature. “The post below really sums it all up for me in 2020! Kofoed wrote in the caption.

Social media doesn’t always tell the whole story. In fact, Kofoed started 2020 by filing for personal bankruptcy. When the pandemic escalated two months later, he started a business and began working with two other businesses to sell personal protective equipment. One of these associates ended up filing a lawsuit against Kofoed, alleging that he embezzled millions and used them to fund his lavish lifestyle.

By the end of 2020, Kofoed had donated more than $ 800,000 in cash and air travel to Republicans. He then allegedly drove Kim Guilfoyle out of DC on a private jet on January 6. To top it off, he moved into one of Donald Trump’s homes in Palm Beach, right next to Mar-a-Lago.

Kofoed and his lawyers admitted to having received Forbes‘ ask for information, corn Kofoed and his lawyers have not addressed any of the allegations described in this article. In court records in the civil action, Kofoed denied accusations that he stole his partner’s money. But one cannot deny the sudden rise of Kofoed, from a businessman in financial difficulty to a Republican actor of power. The most interesting part of her story is the larger story she tells of American politics today. It turns out that it’s incredibly easy to get to some of the most powerful people in the country.

Kofoed liked to live big even before 2020. His January 2020 bankruptcy application, which was rejected after a creditor objected, showed $ 1.3 million in debt and $ 1.8 million in assets , which was almost entirely his $ 1.7 million, 4,600 square foot home set in a nature reserve. 30 miles north of downtown San Diego.

Fifty days after filing for bankruptcy, on March 4, 2020, Kofoed, a real estate consultant who had also started a CBD company and social media platform, incorporated a company named SNS Global USA, LLC in Delaware. The company’s business model appears to be relatively straightforward: buying things overseas and selling them in the United States, especially personal protective equipment, the lifesaving supplies most Americans were desperate to acquire in the beginning. of the Covid-19 pandemic.

According to court documents, SNS Global USA began working with two other companies in spring 2020, CTPartners and Krystal Ventures. The idea was for CTPartners and Krystal Ventures to help secure the PPE and then Kofoed’s company to sell it. The three companies would share the profits.

Things did not go as planned. In a lawsuit filed in Los Angeles County Superior Court in October 2020, Krystal Ventures alleges that Kofoed was content to keep the profits to himself rather than split them. Kofoed denied the charges and filed a counter-suit, claiming his business associates distorted their ability to acquire PPE and defrauded his business with padded invoices.

What is not in dispute: Shortly after the launch of the PPE business, Kofoed began funneling large sums of money to politicians. On July 9, 2020, he made his first contribution to a federal political campaign in 12 years, donating $ 64,000 to support the re-election of Donald Trump and the Republican National Committee. His wife, Stacy, did the same that day. They had just started. Over the next five months, Kofoeds and SNS Global USA donated at least $ 701,000 in cash, plus $ 128,000 in air travel. It all went to the Republicans.

Other recipients included Sen. Rand Paul of Kentucky and 13 state GOP committees. The Kofoeds have also donated to at least one state campaign, donating $ 8,000 to support the re-election of South Dakota Governor Kristi Noem.

Money has a way of opening doors. On her now private Instagram account, Kofoed’s wife shared the VIP treatment she and her husband received at the Republican National Convention. In addition to spending time with McCarthy and Paul, they were able to watch Trump’s speech at the convention from the White House lawn.

Kofoed’s business the partners took note of the flashy photos appearing on social networks. On October 16, 2020, Krystal Ventures filed the aforementioned lawsuit alleging that Kofoed purchased access with money stolen from their business. “Kofoed has retained (or diverted from SNS Global) all or nearly all of the profits from these PPE sales for itself,” Krystal Ventures attorney wrote in the complaint. “Kofoed spent this money to fund a lavish lifestyle, including family vacations and private jet trips across the country, including to the 2020 Republican National Convention, and substantial political donations. In short, Kofoed ran off with the profits owed to Krystal Ventures under the deal and is using them for personal gain.

The lawsuit is currently the subject of pre-trial motions. Neither Kofoed nor his lawyers wanted to comment. The case does not appear to have ended his networking in Washington, however. Eight of his family’s 50 contributions, totaling $ 49,000, came after he was served with the lawsuit.

Last Christmas, the Kofoeds celebrated at two locations: the White House and Mar-a-Lago. Apparently they enjoyed the experience. During a business registration on January 21, 2021, the Kofoeds declared their address at 1094 South Ocean Boulevard. According to files filed the same month, this house belongs to Donald Trump. Representatives of the Trump Organization did not respond to requests for comment.

Even though Kofoed’s full story – with the bankruptcy filing, lawsuit, and new address – has never been told, Kofoed’s closeness to the First Family has earned him a few passing mentions in the media. Last month, ProPublica noted that Kofoed chartered a plane that flew Kimberly Guilfoyle, who is dating Donald Trump Jr., to Florida after speaking at the Jan.6 rally to overturn the election results. The daily mail reported that the Kofoeds attended a fundraiser for Noem in September 2021, where they allegedly saw former Trump campaign boss Corey Lewandowski harass another donor (a lawyer for Lewandowski dismissed the allegations as ” rumors “, according to the Daily mail).

Meanwhile, out of the public eye, the Kofoed’s problems continue to mount. The State of Delaware claims that SNS Global USA did not pay its taxes on time. A company filed for a mechanic’s lien in April, alleging that Kofoed owed it $ 42,000. A private aviation company sued Kofoed in September, accusing him of stiffening them on a $ 42,000 charter flight. And a contractor filed a lawsuit in October against the two Kofoeds, claiming they had not paid $ 110,000 for work on their house. Kofoed did not respond to questions on these topics. The airline company and the entrepreneur who sued are seeking default judgments after Kofoed failed to respond to their complaints.

He will not be able to ignore all of his legal problems. The next hearing in the Krystal Ventures lawsuit is scheduled for April 6, with a jury trial scheduled to begin in July.

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