Massive loan to Jared Kushner's family firm investigated by White House


Kushner met past year with executives from the two companies that made the loans to Kushner Cos.

On Monday a letter from the US Office of Government Ethics dated March 22 revealed that Washington is investigating two loans totaling more than $500 million to the family real estate business of President Trump's son in law and senior adviser, Jared Kushner.

A spokeswoman for Kushner Cos. said Monday the business had not received an inquiry from the White House.

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. "Your silence is disturbing given the increasing number of allegations about Mr. Kushner using his role in the White House to benefit his family's company", the lawmakers wrote.

Richard Blumenthal that he had discussed ethical concerns about Kushner with the White House Counsel's office "in order to ensure" that office looks into whether any law or regulation had been violated.

Kushner's lawyer Abbe Lowell and the White House did not immediately respond to requests for comment. Sanders would not specifically say if the administration would comply with the oversight request.

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Kushner Companies received $325,000 from Citigroup and $184,000 from Apollo Global Management after executives met with Kushner at the White House, The New York Times reported last month.

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Citigroup said last week that the loan was "completely appropriate" and that the transaction was already in the works in 2016 prior to Kushner's meeting with Citigroup's CEO Michael Corbat in 2017.

Apollo attorney Kevin Downey said in a statement to CNN that the company "engaged with the professional managers of Kushner Companies, which did not include any members of the Kushner family", to arrange its loan. 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. An Apollo spokesman previously told The Associated Press that Harris "never discussed with Jared Kushner a loan, investment, or any other business arrangement or regulatory matter involving Apollo".

The lawmaker asked earlier this month the Office of Government Ethics for an opinion about possible ethical issues surrounding Kushner's meeting with executives while they provided the loans to his family business, the Journal reported.