Kushner firm received $90M in foreign funds: report

Kushner firm received $90M in foreign funds: report

Capital flow raises conflict of interest questions for President Donald Trump's son-in-law and senior advisor

News Service AA

A company partially owned by U.S. President Donald Trump's son-in-law Jared Kushner has received $90 million in foreign funding since 2017, when he entered the White House as a senior advisor, raising questions of conflicts of interest, said a report published Tuesday.

The company, Cadre, received the funding from a mysterious Cayman Islands-based vehicle run by financial titan Goldman Sachs, according to the UK-based Guardian newspaper.

Kushner maintains a stake in Cadre estimated to be worth up to $50 million, according to his financial disclosure documents, which were reviewed by the daily.

“It will cause people to wonder whether he is being improperly influenced,” Jessica Tillipman, a lecturer at George Washington University law school who teaches government ethics and anti-corruption laws, told the Guardian.

Kushner was initially denied a security clearance over concerns that his wide-ranging business interests create potential conflicts of interest, but that decision was reportedly overruled by the president.

Neither the White House nor a lawyer for Trump's son-in-law responded to the Guardian's requests for comment.

Kushner reportedly retains a stake in Cadre estimated to be less than 25 percent, but the company -- which he founded with his brother Joshua Kushner and mutual friend Ryan Williams -- maintains he is not actively involved in Cadre's operations.

Cadre's investment arm manages more than $522 million worth of assets, according to financial filings it submitted at the end of March which were reviewed by the Guardian.


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