The United States authorities have launched an investigation into a series of land acquisitions near a major military base in California. According to the Wall Street Journal, investment group Flannery Associates has purchased around 22,000 hectares of land in Solano County, California, over the past five years. The total amount spent on these acquisitions is approximately $800 million, making Flannery the largest landowner in the county.
The land purchased by Flannery includes parcels with wind turbines, and much of it borders Travis Air Force Base. This base houses large military aircraft from the US Air Mobility Command, which are used for the transportation of military personnel and supplies. The proximity of Flannery’s acquisitions to the base has raised concerns among authorities about potential national security risks.
One of the key concerns is the lack of transparency regarding the owners of Flannery Associates. As a company registered in Delaware, Flannery does not have to publicly disclose information about its owners. The authorities have been unable to identify the individuals or entities behind Flannery, despite an ongoing eight-month investigation. Congressman John Garamendi, the ranking Democrat on the US House Armed Services Committee’s readiness panel, expressed his concerns about the acquisitions, stating that they raise significant questions about the intentions of the owners.
In response to these concerns, Congressman Garamendi and another congressman, Mike Thompson, have requested an investigation by the Committee on Foreign Investment in the US (CFIUS). This panel has the authority to advise the US government to block foreign acquisitions if there are security concerns.
Flannery has stated that it is controlled by US citizens and that 97% of its capital comes from US investors, with the remaining 3% coming from the UK and Ireland. However, the company has not provided further details about the identities of its owners and investors. An attorney for Flannery denied that the land purchases were motivated by the proximity to Travis Air Force Base.
While Flannery has mentioned various plans for the use of the acquired land, including renewable energy projects and farming new types of crops, county supervisor Mitch Mashburn expressed skepticism about the profitability of the investment. He doubts that the dry farmland purchased by Flannery can generate enough profit to justify the nearly billion-dollar investment.
The authorities have been unable to confirm or deny Flannery’s claim that it is US-owned. However, if CFIUS takes up the case, it could have the authority to compel Flannery to disclose more information about its owners.
The investigation into Flannery’s land acquisitions near Travis Air Force Base highlights the concerns about potential national security risks associated with foreign investments in sensitive areas. The authorities are taking these concerns seriously and have initiated the necessary investigations to ensure the protection of national security interests.
(Image source: RT)
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