Trireme Partners
| Industry | Venture capital |
|---|---|
| Founded | 2001 |
| Founders |
|
| Defunct | 2005 |
| Fate | Dissolved |
Trireme Partners LLP was a US limited partnership venture capital company that invested in technology, goods, and services related to Homeland Security. The name "Trireme" was taken from a Greek warship designed with three banks of rowers.
Established by Richard Perle, Gerald Hillman and Christopher Harriman, Trireme Partners was a Delaware entity registered in November 2001.[citation needed] One of the firm's major investors was Boeing, which invested US$20 million.[1]
Perle became the subject of controversy in 2003 following a New Yorker article that alleged that Perle had offered to influence American foreign policy in Saudi Arabia in exchange for investment in Trireme.[citation needed]
Trireme Partners completed its business and dissolved in 2005.[citation needed]
History and investors
[edit]Perle set up Trireme Partners in 2001.[1] Trireme Partners first sought an investment from Boeing in February 2002. Boeing committed to invest $20 million two months later.[2] The company received a $2.5 million investment from Hollinger International Inc. in 2003[3] which was reportedly never reported to the audit committee.[4]
Criticism
[edit]In March 2003, Perle became embroiled in controversy after The New Yorker published an article by Seymour Hersh describing a meeting between Perle, the arms dealer Adnan Khashoggi, and Saudi businessman Harb Zuhair, in which Perle allegedly offered to influence American foreign policy in Saudi Arabia in exchange for investment in Trireme. The U.S. Department of Defense Inspector General investigated the conflict of interest and determined that Perle did not violate the conflict of interest provision because he was only working eight days per annum at the Defense Department at the time, which was less than the 60 days of service requirement.[5][6]
References
[edit]- ^ a b Hersh, Seymour (March 17, 2003). "Lunch With the Chairman". The New Yorker. Retrieved 2018-07-18.
- ^ Hilzenrath, David S. (2003-12-05). "Perle Article Didn't Disclose Boeing Tie". Washington Post. ISSN 0190-8286. Retrieved 2018-07-18.
- ^ "Annual Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 For Fiscal Year Ended December 31, 2005". U.S. Securities and Exchange Commission. pp. 127, 128.
- ^ Orth, Maureen (February 2007). "Black Mischief". Vanity Fair's The Hive. Retrieved 2018-07-18.
- ^ Jackson, David (25 June 2004). "Hersh uncovered Pentagon adviser Richard Perles role in securing homeland security contracts". Chicago Tribune. Retrieved 10 March 2009.
the Defense Department inspector general cleared Perle of violating criminal laws or ethics regulations, saying the federal conflict-of-interest provisions don't apply unless an individual has worked 60 days a year.
- ^ Labaton, Stephen (15 November 2003). "Report Finds No Violations At Pentagon By Adviser". The New York Times. Retrieved 10 March 2009.
The inspector general's conclusions were in a heavily excised report dated Nov. 10 that was released on Friday by Representative John Conyers of Michigan
Further reading
[edit]- "Consulting and Policy Overlap", Ken Silverstein and Chuck Neubauer, Los Angeles Times, May 7, 2003
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