Senior adviser Jared Kushners real estate firm received a $285 million loan a month before Election Day from Deutsche Bank that has lent millions to his father-in-law President Donald Trump in the past, the media reported.
Kushner, 36, is one of Trump’s closest advisers in the White House and has been tasked with a litany of duties, including bringing peace to the Middle East, overseeing relations with Mexico and China and revamping government technology.
Kushner is reportedly under scrutiny for meetings with Russian officials, reports The Hill magazine. Special counsel Robert Mueller is reportedly looking into Kushner’s business dealings as part of his investigation into Russia’s meddling in the 2016 election.
The Deutsche Bank loan capped what Kushner Cos. viewed as a triumph: It had purchased four mostly empty retail floors of the former New York Times building in 2015, recruited tenants to fill the space and got the Deutsche Bank loan in a refinancing deal that gave Kushner’s company $74 million more than it paid for the property.
The Democrats wrote that it was important to learn more about Deutsche Bank loans to Trump and family members to determine whether they were “in any way connected to Russian Federation”.
Kushner and his brother, Joshua, are listed as guarantors on the Deutsche Bank loan under what was termed a “nonrecourse carve-out”, commonly known as a “bad boy” clause, the Post explains.
Deutsche Bank has become a focal point of the president’s conflict-of-interest critics.
House Intelligence Committee leaders have been pushing the bank to share information about Trump’s financial dealings with Russian Federation. The Democrats were stymied by Deutsche, which claimed US laws hindered it from sharing client information with governments, an assertion Democrats claimed was a misrepresentation of the law. “It’s extremely important, and I don’t care where it comes from”. “The fact that something becomes political doesn’t mean it’s not legitimate”. As Trump’s biggest lender, the bank supplied funds to him when other banks balked at the risk.
Trump’s financial disclosure, released by the U.S. Office of Government Ethics this month, shows liabilities for Trump of at least $130 million to Deutsche Bank Trust Company Americas, The New York Times notes, including at least $50 million for the Old Post Office that houses Trump’s Washington, D.C. hotel.
Additionally, the loan is just the latest revelation of Trump’s extended links to Deutsche Bank and contributes to the allegations about the president’s purported ties to Russian Federation, both financially and politically.
Jared Kushner did disclose with the OGE that he and his mother did have a personal line of credit with the German bank up to $25 million. It is among the dozens of complex transactions that he was involved with during his decade in the real estate business.