Reports indicate that the real estate firm associated with Jared Kushner finalized a loan deal of approximately $285 million with Deutsche Bank just one month prior to the U.S. Presidential election held on November 8, 2016. The loan was for a property located in Manhattan close to Times Square according to The Washington Post.
At the time the loan deal was finalized, Kushner was a key player in his father-in-law Donald Trump’s presidential campaign. Deutsche Bank, on the other hand, was in negotiations trying to come into a settlement regarding mortgage fraud as well as charges from state regulators in New York who had accused the lender of involvement in a Russian-connected money-laundering scheme. The settlement of both cases took place in December last year and January this year.
Currently, the association between Deutsche Bank and Kushner is one of the financial matters that are likely to be scrutinized by Robert Mueller, the special prosecutor who is leading a broad investigation of possible Russian meddling in the 2016 election.
Last year’s loan deal is an illustration of Kushner’s juggling act as a senior executive at a real estate firm and a senior adviser to his father-in-law. Following the election, he was also in the transition team while also serving as an executive of the real estate firm. Earlier, reports from The Washington Post have indicated that the December meetings that were held between Sergey Gorkov, a Russian banker who heads Russia’s state development bank named Vnesheconombank, Sergey Kislyak, the ambassador of Russia to the U.S. and Kushner are also being examined.
Loans from Deutsche Bank to President Donald Trump as well as to members of his family have been a source of concern for a while now. The German-based lender is the biggest lender to Trump and it also loaned him money when no other bank would. By the end of 2016, companies associated with Trump owed Deutsche Bank approximately $364 million.
Earlier in the year Democrats sitting on the Financial Services Committee voiced their concerns over the relationship between the bank and President Trump. And last month the legislators pressed the bank for more information but it refused on grounds of privacy.
In a response to questions posed by The Washington Post Deutsche Banka and Kushner refused to comment. Only the White House did.
“[Kushner] will recuse from any particular matter involving specific parties in which Deutsche Bank is a party,” said the White House.