President Trump’s son-in-law, and now adviser to the President, Jared Kushner, has come under scrutiny once again, over a huge loan awarded shortly before the 2016 presidential election.
According to a report by the Washington Post Sunday evening, Kushner’s real estate company received a $285 million loan from the Deutsche Bank in October, to refinance property near Times Square in Manhattan.
The property involved in the deal was reportedly four retail floors in the former New York Times building in Midtown Manhattan.
Kushner and his brother Joshua are listed as guarantors, and the loan included a deal allowing the bank to make the guarantors responsible for the debt should there be any misuse of funds or misconduct.
Neither the loan nor the guarantor clause was disclosed by Kushner when he filed his financial forms with the Office of Government Ethics, according to the report.
The Deutsche Bank has issues of their own, as during the same time the loan was approved, the bank was in the middle of settling a federal mortgage fraud case, including charges by the state of New York that it was involved in a Russian money-laundering scheme. Those cases were reportedly resolved in December and January.
The Washington Post reported that the White House issued a statement in response to the matter, stating that Kushner “will recuse from any particular matter involving specific parties in which Deutsche Bank is a party.”
An attorney for Kushner, Blake Roberts, told The Post that the loan guarantee wasn’t disclosed because the OGE guide “clearly states that filers do not have to disclose as a liability a loan on which they have made a guarantee unless they have a present obligation to repay the loan.”
However, a former general counsel for OGE, Don Fox, told The Post, “If I were still at OGE and somebody came to us with that set of facts, I would say, ‘By all means, disclose it,’ ” he said, simply because of the loan’s size.
The report does stem from The Washington Post, and considering the scrutiny over the validation of their reports, particularly on the Trump administration, this new development is still being looked into.
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