Latest news with #Egyptian-American
Yahoo
2 days ago
- Business
- Yahoo
Bob Menendez Does Not Deserve a Pardon
"People talk about the Trump [Department of Justice] DOJ," Bob Menendez, the disgraced former senator from New Jersey, posted on X Friday, "but it was the Democrats who started weaponizing the Justice Dept." The timing of that message was interesting. Menendez, a Democrat, is scheduled to report to federal prison on June 17, after a jury convicted him of accepting almost $1 million in bribes in exchange for, among other things, favors that benefited foreign governments. The scheme was extensive. Menendez—along with his wife, Nadine—took gold bars, $480,000 in cash, and a $60,000 Mercedes-Benz convertible from three New Jersey businessmen, who, in return, had Menendez leverage the power of his office in a litany of corrupt ways. That included helping secure hundreds of millions of dollars in military aid to Egypt; assisting Egyptian-American entrepreneur Wael Hana in preserving a monopoly granted to him by that same country; attempting to influence multiple criminal investigations in a way that would satisfy two of his bribers; and promoting the interests of Qatar so that New Jersey real estate developer Fred Daibes could lock down a multi-million dollar investment from a fund associated with the Qatari government. This list is not exhaustive. The former senator was convicted last year on all 16 counts, which included bribery, honest services wire fraud, obstruction of justice, public official acting as a foreign agent, among several others. A judge sentenced him to 11 years in prison, which was, in some sense, a break, considering that the federal sentencing guidelines recommended a minimum of 24 years in prison. (His wife was convicted last month on all counts—15 in her case—and is scheduled to be sentenced in June.) Menendez's Friday post coincides not only with his looming prison sentence but also with the spate of pardons recently granted by President Donald Trump. It's understandable why the former senator would want to pull out all the stops here. Prison, to put it mildly, sucks. Trump should still decline to indulge him. Whether or not the president will be moved remains unclear. Among his recent pardons is Paul Walczak, an executive who was convicted of withholding millions of dollars in taxes from his employees' paychecks and then keeping the funds for himself. His pardon came shortly before he was to report to prison for an 18-month sentence—and after his mother attended a Trump fundraiser dinner at Mar-a-Lago, where, according to the invitation, admission cost $1 million. But perhaps more analogous to Menendez's situation is the pardon given to Scott Jenkins, the disgraced former Virginia sheriff who, in exchange for cash payments, gave out auxiliary deputy sheriff badges so recipients could invoke special privileges. It is not exactly a mystery why the pardon power's reputation is in the toilet. The problem is a bipartisan one—former President Joe Biden, for his part, issued preemptive pardons for his family members, Anthony Fauci, and others, which does not exactly instill confidence in the rule of law. Neither does pardoning people who sufficiently endear themselves to the chief executive. Pardon Attorney Ed Martin captured those motivations best on X: "No MAGA left behind," he wrote Monday, as he thanked Trump for pardoning Jenkins. But the pardon power, for all the negative attention it has received in recent months, can be an incredible tool for good. It is effectively the only lever to check overzealous prosecutors and unjust sentences in the federal system. Some of Trump's pardons make the case for this. Most famously there was Alice Marie Johnson, who was sentenced to life in prison without the possibility of parole in the '90s for her role as a drug mule in a cocaine ring; Trump initially commuted her sentence and later pardoned her in 2020. Listed in the latest round of pardons were John Moore and Tanner Mansell, two Florida diving instructors who were convicted of theft after freeing sharks they thought had been caught illegally—which, as Reason's Jacob Sullum notes, was a bizarre misuse of the discretion afforded to prosecutors. That is the sort of thing clemency is for: to give a lifeline to people who may have been railroaded by the government, which sometimes gets creative and fanatical in its attempts to punish people. It is not supposed to be a get-out-of-jail-free card for well-connected, powerful people who can sufficiently flatter the president. After all, Menendez, as a senator, was one of the most powerful people in the country. His case was not an example of politicizing justice, though a pardon would be. The post Bob Menendez Does Not Deserve a Pardon appeared first on
Egypt Today
6 days ago
- Business
- Egypt Today
President Sisi emphasizes Egypt's keenness to enhance private sector's role in driving economic development
CAIRO – 26 May 2025: Egypt's President Abdel Fattah El Sisi held an expanded meeting with the representatives of US companies on Monday. The President welcomed them and emphasized the deep and strong Egyptian-American strategic relations, and Egypt's keenness to strengthen them in all fields to serve the interests of both parties, especially in the economic, trade and investment fields. The President noted that Egypt is a large market, and has a ready and advanced infrastructure to receive investments, and that legislative reforms have been implemented to attract foreign investments, adding there are areas such as the Suez Canal Economic Zone that provide all facilities for foreign companies and investors. The President reviewed the massive efforts undertaken by the Egyptian government within the framework of the economic reform program, which has contributed to a significant improvement in macroeconomic indicators, enhanced productivity, and created job opportunities. President Sisi highlighted the vast opportunities available to foreign investors in Egypt, given its unique geographic location, serving as a gateway to Arab and African markets, as well as Europe. The President welcomed both current and new American investments, and stated that the state is ready to eliminate any obstacles to ensure the success of American companies and investors in Egypt, in appreciation of the special Egyptian-American relations. The President noted the state's keenness to enhance the role of the private sector in driving economic development. The meeting focused on Egypt's priority investment sectors, including the communications and information technology, AI, medical device and pharmaceutical production, the automotive industry, renewable energy production, construction and infrastructure, and the food industry. This is due to Egypt's competitive advantages in these sectors. The President emphasized the priority Egypt accords to localizing the industry. The President listened to interventions from the delegation members, who expressed their appreciation for the Egyptian government's commitment to supporting investment and economic development. They affirmed their keenness to capitalize on the promising opportunities offered by the Egyptian market and economy to achieve common interests.
Egypt Independent
7 days ago
- Business
- Egypt Independent
Egyptian-American economist Mohamed al-Erian to run for University of Cambridge Chancellor
The Chief Economic Advisor at Allianz and President of Queens' College at the University of Cambridge, Egyptian-American Mohamed al-Erian, has formally announced his candidacy for Chancellor of the University of Cambridge – one of the most prestigious academic honors in the UK. Erian's career has a rich history that combines academic and economic work. He served for years as Chief Economic Advisor at Allianz Insurance and Investments. He also serves as President of Queens' College, one of the most prestigious colleges affiliated with the University of Cambridge, giving his candidacy significant academic and institutional weight. The remaining potential candidates have yet to be announced, but Erian's announcement reflects a desire to strengthen the presence of figures with international backgrounds in the leadership of British educational institutions. These elections are expected to be closely watched by those interested in academic and economic affairs alike.
Egypt Independent
24-05-2025
- Business
- Egypt Independent
Egyptian-American economist Mohamed al-Erian to run for University of Cambridge president
The Chief Economic Advisor at Allianz and President of Queen's College at the University of Cambridge, Egyptian-American Mohamed al-Erian, has formally announced his candidacy for the position of University President – one of the most prestigious academic honors in the UK. Erian's career has a rich history that combines academic and economic work. He served for years as Chief Economic Advisor at Allianz Insurance and Investments. He also serves as President of Queen's College, one of the most prestigious colleges affiliated with the University of Cambridge, giving his candidacy significant academic and institutional weight. The remaining potential candidates have yet to be announced, but Erian's announcement reflects a desire to strengthen the presence of figures with international backgrounds in the leadership of British educational institutions. These elections are expected to be closely watched by those interested in academic and economic affairs alike.
CairoScene
21-05-2025
- Business
- CairoScene
Egyptian Economist Nominated for Cambridge University Chancellor
Mohamed El-Erian, President of Queens' College, announces candidacy for Chancellor of Cambridge University. May 21, 2025 Mohamed El-Erian, an Egyptian-American economist and President of Queens' College at Cambridge University, has officially announced his candidacy for the position of Chancellor at Cambridge University. This role, held for a ten-year term, is a significant leadership position within the university. El-Erian, who has served as President of Queens' College for the past five years, has a longstanding relationship with Cambridge, having earned his undergraduate degree in economics from Queens' College and being awarded an honorary fellowship in 2013. He has contributed to various university committees and co-chaired the university's major fundraising campaign, Collegiate Cambridge, alongside Sir Harvey McGrath. His philanthropic efforts have significantly impacted the college and university, funding scholarships, research initiatives, fellowships, and the establishment of the Institute for Human Behavior and Economic Policy. El-Erian received over 250 nominations for the chancellorship, surpassing the required number and reflecting broad support from alumni and university members.
