| URL | https://Persagen.com/docs/erik_dean_prince.html |
| Sources | Persagen.com | Wikipedia | other sources (cited in situ) |
| Source URL | https://en.wikipedia.org/wiki/Erik_Prince |
| Date published | 2021-08-26 |
| Curation date | 2021-08-26 |
| Curator | Dr. Victoria A. Stuart, Ph.D. |
| Modified | |
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Erik Dean Prince
Erik Prince speaking at the Miller Center (2015-04-15). |
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Erik Dean Prince (born June 6, 1969) is an American businessman, former United Stated Navy SEAL officer, and the founder of the private military company Blackwater USA, now called Academi. He served as Blackwater's CEO until 2009 and as its chairman until its sale to a group of investors in 2010. Prince heads [as Managing Partner] the private equity firm Frontier Resource Group [see also], and served as chairman of the Hong Kong-listed Frontier Services Group until 2021.
Prince is the son of engineer and businessman Edgar Prince, and the brother of former United States Secretary of Education Betsy DeVos.
[theIntercept.com, 2021-10-30] FBI Investigation of Failed Mercenary Plot Delves Into Role of Erik Prince. Investigators are probing Prince's involvement in the attempted sale of Jordanian military equipment as part of a 2019 plan to help self-declared Libyan leader Khalifa Hifter.
[ProPublica.org, 2021-09-28] More Than Half of America's 100 Richest People Exploit Special Trusts to Avoid Estate Taxes. Secret IRS records show billionaires use trusts that let them pass fortunes to their heirs without paying estate tax. Will Congress end a tax shelter that has cost the Treasury untold billions?
It's well known, at least among tax lawyers and accountants for the ultrawealthy: The estate tax can be easily avoided by exploiting a loophole unwittingly created by Congress three decades ago. By using special trusts, a rarefied group of Americans has taken advantage of this loophole, reducing government revenues and fueling inequality.
There is no way for the public to know who uses these special trusts aside from when they've been disclosed in lawsuits or securities filings. There's also been no way to quantify just how much in estate tax has been lost to them, though, in 2013, the lawyer who pioneered the use of the most common one - known as the grantor retained annuity trust, or GRAT - estimated they may have cost the U.S. Treasury about $100 billion over the prior 13 years.
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[AlterNet.org, 2021-09-28] Erik Prince threatens ProPublica reporters after they reveal special trusts he and others exploited to avoid estate taxes.
[CommonDreams.org, 2021-08-25] 'Monstrous Human:' Erik Prince Reportedly Charging $6,500 for Seats Out of Kabul. The Blackwater founder previously pushed the Trump administration to privatize the Afghan war.
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