Report: Biden’s Treasury Nominee Saule Omarova Arrested for ‘Retail Theft’ in 1995

Saule Omarova of New York testifies before a Senate Banking, Housing, and Urban Affairs he
AP Photo/Manuel Balce Ceneta

President Joe Biden’s Comptroller nominee Saule Omarova was arrested for “retail theft” in 1995, according to a background check obtained from Fox News.

Omarova was reportedly charged with a misdemeanor, but the charge “was dropped through the Wisconsin first offender program,” a Senate Banking Committee staffer reportedly confirmed to Fox News.

Omarova is Biden nominee to lead the Office of the Comptroller of the Currency (OCC), an independent bureau within the Treasury Department. Her nomination has come under fire after it was revealed she had advocated moving all bank accounts into the Federal Reserve, a position which she has said would bring an end to banking as we know it. She has also said that she would welcome the bankruptcy of oil, natural gas, and coal companies to further the Green New Deal agenda.

The White House did not deny Omarova’s “retail theft” charge to Fox News by suggesting she has been “transparent about this incident her entire career.”

“This case was ultimately dismissed in January 1996 – more than 25 years ago – and was the result of a misunderstanding and confusing situation,” a White House spokesperson said:

It’s sad that a far-right partisan group with a pattern of engaging in tawdry behavior would partner with Fox News to smear the name of a qualified nominee seeking to serve her country.

Saule Omarova is eminently qualified and was nominated for this role given her strong track record on regulation and strong academic credentials. The White House strongly supports this historic nomination.

Before Biden’s nomination of Omarova, she worked in the Treasury for former President George W. Bush and as a lawyer in private practice. Omarova is currently a Cornell Law School professor.

President Joe Biden reacts as he delivers remarks on the passage of the Bipartisan Infrastructure Deal and the rule that will allow the passage of the Build Back Better Act in the State Dining Room at the White House in Washington, DC, on November 6, 2021. (Roberto Schmidt/AFP via Getty Images)

Breitbart News additionally reported on Omarova’s radical theories of banking and finance:

During a March conference, Omarova discussed one of her papers, “The People’s Ledger How to Democratize Money and Finance the Economy,” in which she calls for the destruction of all private sector banks by mandating the transfer of all bank deposits to “FedAccounts” at the Federal Reserve.

During her conference speech, she said, “There will be no more private bank accounts, and all of the deposit accounts will be held directly at the Fed.”

Omarova has also said she wants to see the bankruptcy of companies in the fossil fuel industry to pave the way for climate change policies.

Omarova’s confirmation hearing began at 9:30 a.m. Thursday.

Follow Wendell Husebø on Twitter @WendellHusebø


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