Jared Kushner retains millions in property portfolio while serving in White House

&Tab;&Tab;<div class&equals;"wpcnt">&NewLine;&Tab;&Tab;&Tab;<div class&equals;"wpa">&NewLine;&Tab;&Tab;&Tab;&Tab;<span class&equals;"wpa-about">Advertisements<&sol;span>&NewLine;&Tab;&Tab;&Tab;&Tab;<div class&equals;"u top&lowbar;amp">&NewLine;&Tab;&Tab;&Tab;&Tab;&Tab;&Tab;&Tab;<amp-ad width&equals;"300" height&equals;"265"&NewLine;&Tab;&Tab; type&equals;"pubmine"&NewLine;&Tab;&Tab; data-siteid&equals;"111265417"&NewLine;&Tab;&Tab; data-section&equals;"2">&NewLine;&Tab;&Tab;<&sol;amp-ad>&NewLine;&Tab;&Tab;&Tab;&Tab;<&sol;div>&NewLine;&Tab;&Tab;&Tab;<&sol;div>&NewLine;&Tab;&Tab;<&sol;div><p>The White House has publicly released the financial disclosures of top officials in the Trump administration&period; The publicly released files show Jared Kushner&comma; and his wife Ivanka Trump&comma; are holding on to scores of real estate investments as they serve in White House roles &&num;8211&semi; assets which are part of a portfolio worth at least &dollar;240m&period;<&sol;p>&NewLine;<p>However&comma; The New York Times reports the couple&&num;8217&semi;s empire could be far bigger than this&comma; with a value of up to &dollar;741m&period; Jared Kushner&comma; Mr Trump&&num;8217&semi;s senior adviser&comma; resigned from more than 260 entities and sold off 58 businesses or investments that lawyers identified as posing potential conflicts of interest&comma; the documents show&period;<&sol;p>&NewLine;<p>But his lawyers&comma; in consultation with the Office of Government Ethics&comma; determined that his real estate assets&comma; many of them in New York City&comma; are unlikely to pose the kind of conflict that would trigger a need to divest&period;<&sol;p>&NewLine;<p>&&num;8220&semi;The remaining conflicts&comma; from a practical perspective&comma; are pretty narrow and very manageable&comma;&&num;8221&semi; said Jamie Gorelick&comma; a lawyer who has been working on the ethics agreements for Mr Kushner and his wife Ivanka Trump&period;<&sol;p>&NewLine;<p>Mr Kushner began selling off the most problematic pieces of his portfolio shortly after Mr Trump won the election&comma; and some of those business deals pre-date what is required to be captured in the financial disclosure forms&period;<&sol;p>&NewLine;<p>For example&comma; he sold his stake in a Manhattan skyscraper to a trust his mother oversees&period; Mr Kushner&comma; Ms Trump and their three young children have no financial interest in that trust&comma; his lawyer said&period; The Kushner Companies&comma; now run by Mr Kushner&&num;8217&semi;s relatives&comma; are seeking investment partners for a massive redevelopment&period;<&sol;p>&NewLine;<p>The White House has released financial disclosure forms for more than 100 of its senior administration officials &&num;8211&semi; a mix of people far wealthier&comma; and therefore more entangled in businesses that could conflict with their government duties&comma; than people in previous administrations&period;<&sol;p>&NewLine;<p>White House press secretary Sean Spicer described the business people who have joined the administration as &&num;8220&semi;very blessed and very successful&&num;8221&semi;&comma; and said the disclosure forms will show they have set aside &&num;8220&semi;a lot&&num;8221&semi; to go into public service&period;<&sol;p>&NewLine;<p>The financial disclosures &&num;8211&semi; required by law to be made public &&num;8211&semi; give a snapshot of the employees&&num;8217&semi; finances as they entered the White House&period; What is not being provided are the Office of Government Ethics agreements with those employees on what they must do to avoid potential conflicts of interest&period;<&sol;p>&NewLine;<p>Those documents will never be made public&comma; White House lawyers said&comma; although the public will eventually have access to &&num;8220&semi;certificates of divestiture&&num;8221&semi; issued to employees who are seeking capital gains tax deferrals for selling off certain assets&period;<&sol;p>&NewLine;<p>Mr Kushner&comma; for example&comma; received certificates of divestitures for his financial interests in several assets&comma; including several funds tied to Thrive Capital&comma; his brother Joshua Kushner&&num;8217&semi;s investment firm&period;<br &sol;>&NewLine;He and Ms Trump built up companies the documents show are worth at least &dollar;50m each and have stepped away from their businesses while in government service&period;<&sol;p>&NewLine;<p>Like the president&comma; they retain a financial interest in many of them&period; Ms Trump agreed this week to become a federal employee and will file her own financial disclosure at a later date&period;<&sol;p>&NewLine;<p>Mr Kushner&&num;8217&semi;s disclosure shows he took on tens of millions of dollars of bank debt in 2015 and 2016&comma; including liabilities with several international banks whose interests could come before the Trump administration&period;<&sol;p>&NewLine;<p>Financial information for members of Mr Trump&&num;8217&semi;s cabinet who needed Senate confirmation has&comma; in most cases&comma; been available for weeks through the Office of Government Ethics&period;<&sol;p>&NewLine;<p>The president must also file periodic financial disclosures&comma; but he is not required to make another disclosure until next year&period;<&sol;p>&NewLine;&Tab;&Tab;&Tab;<div style&equals;"padding-bottom&colon;15px&semi;" class&equals;"wordads-tag" data-slot-type&equals;"belowpost">&NewLine;&Tab;&Tab;&Tab;&Tab;<div id&equals;"atatags-dynamic-belowpost-68ece9173bc7e">&NewLine;&Tab;&Tab;&Tab;&Tab;&Tab;<script type&equals;"text&sol;javascript">&NewLine;&Tab;&Tab;&Tab;&Tab;&Tab;&Tab;window&period;getAdSnippetCallback &equals; function &lpar;&rpar; &lbrace;&NewLine;&Tab;&Tab;&Tab;&Tab;&Tab;&Tab;&Tab;if &lpar; false &equals;&equals;&equals; &lpar; window&period;isWatlV1 &quest;&quest; false &rpar; &rpar; &lbrace;&NewLine;&Tab;&Tab;&Tab;&Tab;&Tab;&Tab;&Tab;&Tab;&sol;&sol; Use Aditude scripts&period;&NewLine;&Tab;&Tab;&Tab;&Tab;&Tab;&Tab;&Tab;&Tab;window&period;tudeMappings &equals; window&period;tudeMappings &vert;&vert; &lbrack;&rsqb;&semi;&NewLine;&Tab;&Tab;&Tab;&Tab;&Tab;&Tab;&Tab;&Tab;window&period;tudeMappings&period;push&lpar; &lbrace;&NewLine;&Tab;&Tab;&Tab;&Tab;&Tab;&Tab;&Tab;&Tab;&Tab;divId&colon; 'atatags-dynamic-belowpost-68ece9173bc7e'&comma;&NewLine;&Tab;&Tab;&Tab;&Tab;&Tab;&Tab;&Tab;&Tab;&Tab;format&colon; 'belowpost'&comma;&NewLine;&Tab;&Tab;&Tab;&Tab;&Tab;&Tab;&Tab;&Tab;&rcub; &rpar;&semi;&NewLine;&Tab;&Tab;&Tab;&Tab;&Tab;&Tab;&Tab;&rcub;&NewLine;&Tab;&Tab;&Tab;&Tab;&Tab;&Tab;&rcub;&NewLine;&NewLine;&Tab;&Tab;&Tab;&Tab;&Tab;&Tab;if &lpar; document&period;readyState &equals;&equals;&equals; 'loading' &rpar; &lbrace;&NewLine;&Tab;&Tab;&Tab;&Tab;&Tab;&Tab;&Tab;document&period;addEventListener&lpar; 'DOMContentLoaded'&comma; window&period;getAdSnippetCallback &rpar;&semi;&NewLine;&Tab;&Tab;&Tab;&Tab;&Tab;&Tab;&rcub; else &lbrace;&NewLine;&Tab;&Tab;&Tab;&Tab;&Tab;&Tab;&Tab;window&period;getAdSnippetCallback&lpar;&rpar;&semi;&NewLine;&Tab;&Tab;&Tab;&Tab;&Tab;&Tab;&rcub;&NewLine;&Tab;&Tab;&Tab;&Tab;&Tab;<&sol;script>&NewLine;&Tab;&Tab;&Tab;&Tab;<&sol;div>&NewLine;&Tab;&Tab;&Tab;<&sol;div>


Discover more from London Glossy Post

Subscribe to get the latest posts sent to your email.

- Advertisement -
Exit mobile version