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Company part-owned by Jared Kushner got $90m from unknown offshore investors since 2017
Jared’s susceptibility to foreign influence has been a major point of concern for security experts.
White House official Jared Kushner and his father-in-law.
Offshore firms within offshore firms to mask identities. This is the failsafe method used to hide "pay to play" transactions with corrupt government officials.
Related: Someone Is Funneling Kushner Tons of Cash
Jared’s susceptibility to foreign influence has been a major point of concern for security experts.
White House official Jared Kushner and his father-in-law.
6/10/19
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. “It 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. The names of the foreigners investing in Cadre via Goldman Sachs are not disclosed by the companies, which are not required to make the information public. Two sources familiar with the firm said much of the money came to the Cayman Islands vehicle from a second offshore tax haven, while some came from Saudi Arabia.
Offshore firms within offshore firms to mask identities. This is the failsafe method used to hide "pay to play" transactions with corrupt government officials.
Related: Someone Is Funneling Kushner Tons of Cash