Kushner Business Reportedly Got Big Loans After White House Meetings

Kushner Business Reportedly Got Big Loans After White House Meetings

On Wednesday, New York Times reported that private equity firm Apollo Global Management and Citigroup extended loans that amounted to more than half a billion dollars to a company owned by the family of President Donald Trump's son-in-law Jared Kushner. Sources told the Times that Kushner discussed a possible role within the White House with Apollo's founder and discussed financial and trade policy with Citigroup's chief executive.

Kushner also reportedly met with Citigroup's chief executive, Michael L. Corbat, at the White House. During that time, The New York Times reports, Kushner and the company executive met multiple times.

Kushner, who had a broad portfolio in the White House, including leading Middle East peace negotiations and an effort to modernize and reduce the size of some government programs, lost his interim top-secret security clearance, two USA officials familiar with the matter said on Tuesday.

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It also stated that information regarding the family members was also requested.

The size of the loan by Apollo, one of the world's largest private equity companies, to refinance a Kushner mortgage on a Chicago skyscraper was three times the size of an average property loan made by the firm's real estate lending arm.

A spokeswoman for Kushner Cos., Christine Taylor, said, "We have not received a copy of any letter from the New York State Department of Financial Services".

Abbe Lowell, Kushner's attorney, said in a statement that the delay is not uncommon.

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Perhaps if Kushner weren't so politically motivated himself, he wouldn't have to worry about having his potential conflicts of interest scrutinized.

At the time, Harris was providing advice to the Trump administration related to infrastructure.

Although Kushner stepped down as the company's CEO in 2017, after Trump was sworn in to the office, the business still remains in his family and reports suggest he is still invested in the company's business dealings.

Kushner's company, which he left to take his position in the White House previous year, is also being investigated by the U.S. Securities and Exchange Commission, along with federal prosecutors in NY, over its use of a visa program used to attract foreign investment, according to Bloomberg. The agency is also requesting descriptions on how the banks processed Kushner's loans and whether the banks did any internal review of the Kushners and their companies, the person said.

Citigroup spokeswoman Danielle Romero-Apsilos told the Times Kushner Cos had been a bank client since before the election and that the relationship had no connection to Kushner's White House role.

Public filings show Kushner still owns part of the company that received the Apollo loan. According to government financial disclosures from a year ago, he has lines of credit at the three banks, among others.

Federal ethics regulations restrict government employees from participating in some matters that involve companies with which the official is seeking "a business, contractual or other financial relationship that involves other than a routine consumer transaction".