Kushner group got millions in loans after a White House meeting

Mar 02, 2018, 02:59
Kushner group got millions in loans after a White House meeting

The real estate company owned by the family of White House senior adviser Jared Kushner, who also happens to be President Donald Trump's son-in-law, received more than $500 million in loans past year after executives from the lending companies met with Kushner at the White House.

But Kushner Companies' spokeswoman said they'd received no letter from the state and called the inquiries "harassment exclusively for political reasons". Reports have indicated Mueller has interest in Kushner's interaction with a Chinese company during the transition, Anbang Insurance, which was considering investing in the Kushner Cos. -owned 666 Fifth Ave. property in Manhattan. "Prior to our CEO voluntarily resigning to serve our country, we never had any type of inquiries", she said. "These types of inquiries appear to be harassment exclusively for political reasons". A lawyer for Mr. Kushner didn't respond to requests for comment.

The letter from the DFS is seeking information-as well as communications and documents-surrounding the financial agreements between Kushner, his business dealings and the three banks, according to the source.

The department, which regulates NY banks and some worldwide banks that do business in the state, sent inquiries last week to firms that include Deutsche Bank AG and Signature Bank, these people said. The Kushner family and Kushner Cos. have been clients since 2010, she said. Signature said that, by law, it can not disclose regulatory or legal inquiries.

This isn't the first time the NY state regulator is using its power to demand banks under its jurisdiction describe their relationships with Mr. Kushner.

Kushner Companies has said in a statement that Jared Kushner's White House role had no impact on the company's financial relationships.

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Last spring, Citigroup chief executive Michael Corbat met with Kushner at the White House for a policy discussion. "Stories like these attempt to make insinuating connections that do not exist to disparage the financial institutions and companies involved", spokeswoman Christine Taylor said.

"He has followed the ethics advice he has received for all of his work which include the separation from his business and recusals when appropriate", the spokesman added. That loan was offered soon after Kushner met with Citigroup's chief executive, according to the Times. She said Citigroup negotiated the 2017 loan with Kushner Cos'. business partner, a real estate developer.

A Deutsche Bank spokeswoman declined to comment, as did a spokesman for the state regulator.

Federal prosecutors in Brooklyn issued a document request to Kushner Cos. for information about that loan in November of a year ago, the Journal reported in December.

If DFS finds the loans somehow violate banking law, it could fine the banks or take other corrective action with regard to their business practices, said NY attorney Daniel Alter, former general counsel at DFS.

The men didn't discuss Kushner's family real estate firm - but it was after those White House sit downs that Trump's son-in-law got the $325 million loan from Citigroup, according to The Times. The private real estate company owns or partially owns buildings in NY and New Jersey.