Jared Kushner’s company received a $285 million loan from Deutsche Bank just one month before the presidential election last year. The bank is tied to the Russian investigation, which makes the transaction all the more compelling to authorities. Deutsche Bank has also loaned Donald Trump millions in the past. According to a Sunday report by the Washington Post, Kushner made a personal guarantee on the loan, but didn’t offer this information on the financial disclosure form with the Office of Government Ethics.
President Trump’s son-in-law and senior adviser was still working for his firm during the election and the loan was for a refinancing package for its property near Times Square in Manhattan. The loan happened during a time Kushner was playing a significant role in Trump’s campaign. Deutsche Bank was in the process of settling a “federal mortgage fraud case and charges from New York state regulators that it aided a possible Russian money-laundering scheme;” everything was settled in December and January.
The White House told the Post that Jared Kushner“will recuse from any particular matter involving specific parties in which Deutsche Bank is a party.”
Jared Kushner’s firm was given $285 million Deutsche Bank loan a month before Election Day https://t.co/iWeFvREuBJ
— Washington Post (@washingtonpost) June 26, 2017
An attorney of Kushner’s explained that the president’s son-in-law wasn’t required to disclose the loan information because of “published guidance” from the ethics office stating clearly “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.”
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.
Deutsche Bank is linked in the investigation over possible Russian interference in the 2016 presidential election, and Kushner is already a person of interest in the probe for his meetings with Russian officials.
House Intelligence Committee members have been pressing Deutsch Bank to release details about Trump’s financial transactions with Russia, but the requests have been denied due to privacy laws. The president’s personal disclosure report showed that he had a $130 million debt with Deutsche Bank Trust Company Americas. The bank was viewed as one of Trump’s main lenders.
— The Daily Beast (@thedailybeast) June 26, 2017
Bloomberg reports that the Justice Department has requested records connected to money laundering from Deutsche Bank as part of the investigation.
[Featured Image by Andrew Harnik/AP Images]