Trump White House Profited Off 5G Spectrum Monopoly Deal Between IDT Corporation And Verizon

Senior White House staffer Ira Greenstein made millions when IDT Corporation's Straight Path Communications Inc. (SPCI) was sold to Verizon under the Trump FCC.


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Nationalization Nani?

Anime Right News (ARN) — A recent document release coming from within the Trump administration, regarding a proposal to nationalize 5G spectrum telecommunications, has shed more light on disturbing issues regarding senior White House staffer Ira Greenstein. A lawyer & close family friend to Jared Kushner.

This was due to numerous conflicts of interest including investments in a 5G monopoly.

Greenstein, who is also at the center of a major conflict of interest involving U.S. military action taken in Syria in relation to his energy corporation (Genie Energy), serves under Reed Cordish — the Special Assistant to the President for Intragovernmental & Technology Initiatives.

Axios:

Trump national security officials are considering an unprecedented federal takeover of a portion of the nation’s mobile network to guard against China, according to sensitive documents obtained by Axios.

Why it matters: We’ve got our hands on a PowerPoint deck and a memo — both produced by a senior National Security Council official — which were presented recently to senior officials at other agencies in the Trump administration.

The main points: The documents say America needs a centralized nationwide 5G network within three years. There'll be a fierce debate inside the Trump administration — and an outcry from the industry — over the next 6-8 months over how such a network is built and paid for.

The proposal, whether considered or not, is an issue because Greenstein is directly involved in 5G & also oversaw government applicants during the presidential transition. This included intelligence & national security positions.

Straight Path Communications Inc. (SPCI) is headed by CEO & President Davidi Jonas. Son of Howard Jonas, who founded both Genie Energy, as well as IDT Corporation & was Greenstein's boss.

Straight Path Communications Inc. (SPCI):

Straight Path Communications is a forward thinking communications asset company. We specialize in maximizing the value of assets such as millimeterbandwidth licenses for 5G networks (Spectrum).

Essentially, the purpose of SPCI was to increase the value of the corporation itself for shareholders, of which its sole function was holding licenses for spectrum.

Straight Path is the largest commercial holder of 39 GHz spectrum, with about 95 percent of the total licenses commercially available, as well as a significant holder of 28 GHz in major markets, including New York and San Francisco. These licenses allow us to continue as a leader in the next frontier of telecommunications. Straight Path Communications holds an average of 620 MHz in the top 30 U.S. markets and covers the entire nation with 39 GHz spectrum.

Holding around 95% of 39GHz wireless spectrum licenses, which represents a monopoly, SPCI was involved in a securities fraud suit due to filing false claims with the FCC midway through its lifetime. This was in regards to the holding corporation squatting on these licenses, claiming it created infra-structure to use the frequencies, yet had merely lied.

SPCI seeks to create shareholder value from its two classes of communications assets: extensive holdings of 28 and 39 GHz fixed and mobile wireless spectrum licenses held in its Straight Path Spectrum, Inc. (SPS) subsidiary; and two patent portfolios held in its Straight Path IP Group, Inc. (SPIPG) subsidiary.

Following the increase in share value, Jonas sold the holding corporation to Verizon for $3.1 billion.

Greenstein, among his other vast wealth, held close to $1,000,000 in shares in SPCI according to the OGE form he had filed.

This was before the almost 600% increase in share value.


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