Massive loan to Jared Kushner's family firm investigated by White House
White House attorneys are examining whether two loans totaling more than $500 million to Jared Kushner's family business may have violated any criminal laws or federal ethics regulations, according to a letter from a federal ethics agency made public Monday.
The revelation came after a Democratic lawmaker raised questions about the propriety of the decision by President Donald Trump's son-in-law to meet in his capacity as a senior White House aide with executives from companies that later provided loans to Kushner Companies, the private family real-estate business that Kushner ran before the 2016 election.
According to David Apol, general counsel and director of Office of Government Ethics, in a letter to the congressman, said that he is now under the process of discussing the issue with White House to make sure that they have started the process of confirming any facts to ensure that the loan did not breach any law or regulation. The Apollo money to refinance the mortgage on a Kushner Chicago building was three times the typical loan by Apollo's real estate lending operation, the Times reported.
"I have discussed this matter with the White House Counsel's Office in order to ensure that they have begun the process of ascertaining the facts necessary to determine whether any law or regulation has been violated".
Moreover, he also added that the White House has confirmed and informed him that the process has already started, which means that the process of scrutinizing is already there and has begun.
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Jared Kushner resigned from Kushner Cos previous year and sold his stakes in the family real estate firm.
Abbe Lowell, an attorney for Kushner, told The Wall Street Journal that when the loans were first reported the White House concluded there were no issues.
Both companies have insisted their officials did nothing wrong in meeting with Kushner. Several White House officials contacted for comment by The Associated Press were not immediately available to confirm whether White House lawyers had completed the inquiry.
In response to a letter from Senator Elizabeth Warren, Citigroup said last week that its $325 million loan to Kushner Cos. was "completely appropriate". It appears that Kushner and an unnamed partner used the loan as part of a deal to buy Invesco out of the Dumbo Heights complex in Brooklyn.
A spokeswoman for Kushner Cos. said Monday night that the firm had not received any correspondence or other notifications from the White House or OGE.
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