President Donald Trump's son-in-law and Senior White House Adviser Jared Kushner is no stranger to controversy.
As his involvement with Russia is the focus of a series of official investigations into the country's alleged hacking of United States elections, a new report shows Kushner's real estate company obtained a $285 million loan from Deutsche Bank just before Election Day.
While at a first glance, this piece of news may sound harmless, reports show that the Deutsche Bank had been suspected of being involved in a possible Russian money laundering scheme. This new development surrounding Kushner and his possible Russian ties, adds more fuel to the fire and gives U.S. officials something else to look into as they investigate Trump's team.
The loan, which was finalized in October 2016, gave Kushner and his brother the chance to purchase four retail floors in what used to be the New York Times building in Manhattan. In order to OK the deal, however, the bank added a “bad boy” clause to the contract so it would retain the ability to hold guarantors Kushner and brother Joshua reliable in case the funds were misused.
Unfortunately, Trump's son-in-law failed to disclose this loan when filing his financial forms with the Office of Government Ethics, raising concerns as to why.
At the time, the Deutsche Bank was under scrutiny over a New York State probe over a suspected money-laundering scheme involving the Russian government. In December, just one month prior to Trump's inauguration, the bank reached a deal with regulators, and in January, the institution was ordered to pay millions in penalties.
To make matters worse, Deutsche Bank is also the Trump family's biggest lender. In 2016, the Trumps owed Deutsche Bank over $360 million.
Despite taking the job as Trump's White House senior adviser, Kushner has chosen to retain most of his real estate empire. Thanks to this move, both he and the administration are vulnerable to conflicts of interest charges, which could be used to build an impeachment case against the president.
As federal investigators look into Kushner's ties to Russian Ambassador Sergey Kislyak and Sergey Gorkov, the head of Russia’s state-owned bank Vnesheconombank, this new development could make things difficult for Trump's son-in-law.
So, if the president is concerned about his political future, he might want to start worrying about Kushner's financial ties and carelessness, as even Kushner's lawyer, Dan Fox, said Kushner should have disclosed the loan in his government ethics reports.
Could this be the end for Kushner's career as a member of Trump's official White House team?
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