March 19, 2018

Jared Kushner's Ties to Banks Under Scrutiny

02 March 2018, 03:00 | Sheila Mcguire

Jared Kushner with President Trump

Jared Kushner with President Trump

New York's banking and insurance regulator has asked Deutsche Bank and two NY lenders for information related to their dealings with Jared Kushner, President Donald Trump's son-in-law and a White House senior adviser, according to a person familiar with the investigation, but who is not authorized to speak publicly on the matter. That firm is Apollo Global Management, of which Harris is a co-founder.

Harris was tapped to advise Trump officials on infrastructure - but also had several sitdowns with Kushner where the two men talked about a possible White House job for Harris, The Times reported.

Kushner also reportedly met with Citigroup's chief executive, Michael L. Corbat, at the White House.

Special counsel Robert Mueller 's team, who is looking into Russian meddling in the 2016 US election, have asked questions about Kushner's interactions with potential foreign investors, the Times said.

Government ethics experts told the Times that there is "little precedent" for CEOs whose businesses plan to make large loans to a company a White House official has a stake in meeting with said official.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. A week ago, the New York State Department of Financial Services (DFS) requested information from the Deutsche Bank, Signature Bank and New York Community Bank on their relationships with Kushner and his family's real estate company, Reuters reported.

But Kushner Companies' spokeswoman said they'd received no letter from the state and called the inquiries "harassment exclusively for political reasons". And although that never came to fruition, Apollo lent Kushner Companies $184 million in November - three times as large as the normal real estate loan doled out by the company. She described Kushner Cos as a "multibillion enterprise that is extremely financially strong".

Last year, the regulators asked Deutsche Bank for details about transactions it had flagged as suspicious that had apparent ties to officials in Mr. Trump's administration or people close to them, one of the people said.

Kushner's tenure in the White House has been dogged by questions about conflicts of interest between his government work and his family business, in which he remains heavily invested.

Deutsche Bank received a grand-jury subpoena from prosecutors for information regarding that loan around the same time, according to a person familiar with the matter. 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.

Jared Kushner's family real estate business secured two bog loans after a White House meeting with bank executives.

Kushner's company, which he left to take his position in the White House past 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.

Kushner reportedly received a $325 million loan from Citigroup.

. But he retains a stake in parts of the business, according to his most recent financial-disclosure form.

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