In August 2023, an executive at Israel Bonds – an organization that sells Israeli bonds to fund that nation’s government and buttress its military – emailed the Ohio state treasurer’s office a sales pitch: could the state of Ohio buy a batch of Israeli bonds for $5m?
In less than 40 minutes, the treasurer’s office approved the purchase, bringing Ohio’s Israeli bond purchases to a total of $35m for that year.
The fast deal was made between parties that were on exceptionally friendly terms, according to a trove of emails and other records obtained by the International Consortium of Investigative Journalists (ICIJ). And it was not the only matter being discussed with Israel Bonds. At the same time that the Ohio treasurer, Republican Robert Sprague, allocated millions in state funds to the bond purchases, he was also making arrangements with the bond seller’s business development team to join an exclusive guided trip to
