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Bankrupt Bizman Accused of Donating Embezzled Cash to Trump

Richard Kofoed allegedly kept a business partner’s cut and funneled it to GOP candidates.

A bankrupt Trump donor has been accused of funneling embezzled funds to the Republican Party and GOP candidates. Forbes reports that Richard Kofoed filed for bankruptcy at the start of 2020, then created a new company to buy PPE overseas and sell it to desperate Americans. Soon after, the magazine reports, Kofoed began donating large sums to Donald Trump, the Republican National Committee, WinRed, and other Republicans including Rand Paul and Kristi Noem—and met Trump and the Trump kids and were at the White House for the GOP convention.

One of Kofoed’s business partners claimed in a lawsuit that he pocketed their share of the profits from the PPE venture. “Kofoed has spent that money funding a lavish lifestyle, including family vacations and trips on private jets around the country, including to the 2020 Republican National Convention, and on substantial political donations. In short, Kofoed has absconded with the profits due to Krystal Ventures under the agreement and is using them for personal gain,” the suit claims. Kofoed, who has filed a countersuit, declined to comment to Forbes.