• Live
    • Audio Only
  • google plus
  • facebook
  • twitter
  • On January 9, 2017, U.S. President Donald Trump named his son-in-law senior White House advisor.

    On January 9, 2017, U.S. President Donald Trump named his son-in-law senior White House advisor. | Photo: Reuters

Published 10 June 2019

Kushner's lawyers responded that he quit Cadre’s board and sold most of his shares, down to under 25 percent, after he was appointed by the U.S. administration.

U.S. President Donald Trump's son-in-law, Jared Kushner, could be involved in another questionable financial scheme, as his real estate firm, Cadre, allegedly received US$90 million of foreign investments from an offshore company run by Goldman Sachs in the tax haven of the Cayman Islands after he became Trump's senior advisor.

Iran Says New US Sanctions Show Offer To Dialogue 'Hollow'

The information, published by The Guardian on Monday quoting corporate filings and interviews, criticized the transactions and dubbed them a potential conflict of interests since the foreign investments have no clear origin because of the Islands' status of a tax haven.

“It will cause people to wonder whether he is being improperly influenced,” said Jessica Tillipman, a lecturer at George Washington University law school, quoted by The Guardian.

The company is an online marketplace where investors can come together to buy property and also works as a real estate investment fund, now worth more than half a billion dollars. The fund’s value has risen fivefold since 2017, when Kushner was appointed a White House adviser, following earlier slower growth.

Right before his appointment, Kushner struck a hidden deal with Israeli firm Menora Mivtachim in which his real estate company received US$30 million, a January 2018 report by The New York Times revealed.

Trump's son-in-law resigned from Cadre’s board and reduced his ownership stake to less than 25 percent after he joined the White House staff, according to his attorneys. Yet failed to list the company on his first ethics disclosure, later adding it and saying the omission was inadvertent.

The Guardian quoted "two sources familiar with the firm," who "said much of the money came to the Cayman Islands vehicle from a second offshore tax haven, while some came from Saudi Arabia." As Trump’s special representative in the Middle East, Kushner has developed a close relationship with Saudi Arabian officials, particularly the crown prince, Mohammed bin Salman. 

Post with no comments.