Company Owned By Jared Kushner Got $90m From Unknown Offshore Source

A real estate company part-owned by Jared Kushner has received $90m in foreign funding from an opaque offshore vehicle since he entered the White House as a senior adviser to his father-in-law Donald Trump.

Investment has flowed from overseas to the company, Cadre, while Kushner works as an international envoy for the US, according to corporate filings and interviews. The money came through a vehicle run by Goldman Sachs in the Cayman Islands, a tax haven that guarantees corporate secrecy.

Kushner, who is married to Trump’s elder daughter Ivanka, kept a stake in Cadre after joining the administration, while selling other assets. His holding is now valued at up to $50m, according to his financial disclosure documents.

Cadre’s foreign funding could create hidden conflicts of interest for Kushner as he performs his work for the US government, according to some ethics experts, who raised concerns over the lack of transparency around the investments.

β€œIt will cause people to wonder whether he is being improperly influenced,” said Jessica Tillipman, a lecturer at George Washington University law school, who teaches government ethics and anti-corruption laws.

Kushner resigned from Cadre’s board and reduced his ownership stake to less than 25% after he joined the White House, according to his attorneys. He failed to list Cadre on his first ethics disclosure, later adding the company and saying the omission was inadvertent. YEAH SURE!

Read More at the Guardian