On October 25, 2026, investigative journalist Matthew Cole's book "Princes and Thieves: The Secret Plot of Jared Kushner and Mohammed bin Zayed to Reshape the Middle East" was published in the US. An excerpt from the publication was previously published by Vanity Fair, and the full text went on sale five days before the midterm congressional elections scheduled for November 3. Central to the book are accusations against Donald Trump's son-in-law and adviser Jared Kushner, who at the time of publication serves as special envoy for peace talks between Russia and Ukraine. According to Cole, during Trump's first presidential term, when he served as Middle East envoy, Kushner effectively lobbied the interests of Gulf states in U.S. foreign policy.
"Alpha" and "Beta" Accounts: How the Scheme Works According to the Author
According to Matthew Cole, Kushner had access to two secret bank accounts funded by Saudi Crown Prince Mohammed bin Salman and UAE President Mohammed bin Zayed. The total amount in these accounts, the author estimates, could be at least two billion dollars. The "Alpha" account was opened at the UAE's largest bank, First Abu Dhabi Bank, and contained about $750 million, which, according to Cole, was to be used as a foreign policy fund, including for settling the Israeli-Palestinian conflict. The "Beta" account was located in the State Bank of Israel and contained approximately one billion dollars. Israeli Prime Minister Benjamin Netanyahu, according to the journalist's sources, knew about this account and personally suggested transferring the funds to a local bank. Cole also notes that initially Persian officials offered to finance the construction of a wall between the US and Mexico through the secret fund, but this project was not implemented.
Kushner's Reaction: "No bank statements, no transfer data"
Jared Kushner publicly rejected all accusations, calling them "outrageous and false." In a post on social media X, he stated that his team had refuted every one of the author's claims, while Cole provided no evidence. "No bank statements, wire transfer data, account numbers, transaction dates, or any other verifiable information were provided to support these extraordinary accusations," Kushner wrote. He also recalled that during that period he was one of the most discussed people in the world, figured in numerous congressional investigations, voluntarily cooperated with the investigation, and testified, yet none of these accusations received public confirmation at the time. On his website, Kushner published a reply letter to Matthew Cole demanding an end to the publication of "false and defamatory claims" and warning of his readiness to go to court.
Legal Perspective: The Foreign Agent Registration Issue
Cole ties all the accusations to a central thesis: lobbying foreign interests in the U.S. government. If the journalist's data is confirmed, it would mean that Kushner was effectively paid by the governments of Saudi Arabia and UAE for influence in the U.S. government, which automatically qualifies him as an agent of foreign states. Under U.S. law, citizens representing the interests of foreign states are required to register with the Department of Justice and indicate which country they represent. Cole quotes his source: "A secret fund, that is, a pool of money for unofficial diplomatic missions, is a common form of corruption in the governments of the Arab Gulf states. The Emirates and Saudis do this annually. One or two billion means nothing to them if it gives them what they want."
Political Context: November 3 Elections and Risks for Republicans
The publication of the book coincided with the election campaign ahead of the U.S. midterm congressional elections, which will take place on November 3, 2026. According to Reuters, Democrats lead Republicans in polls—47% to 36%—and Donald Trump's current public approval rating stands at 32%. Accusations against Kushner, who holds a key diplomatic position, could further strike at the Republican Party's reputation ahead of the vote. In addition, if Democrats take a majority in Congress, they will have the opportunity to initiate an investigation into a number of allegations made in the book. Publications from The Guardian, Esquire, and BBC News were used to prepare this material.
