Mr.Trump’s son-in-law and White House senior adviser Jared Kushner looks to be anything but innocent lately. Special Counsel Robert Mueller interviewed him back in November looking for ties to Russian collusion especially knowing he was attendance at the now infamous Trump Tower meeting in June 2016 where Russian officials were present. Kushner still insisted:
‘I did not collude with Russia.’
It is still a good possibility that Mueller will eventually indict Kushner as his investigation deepens.
Now, on Tuesday, new information has come out about Kushner’s finances, detailing that his credit line debts increased in 2017. Kushner drew money from of three separate credit line sources and they weren’t just small amounts of money. According to POLITICO:
‘Recent revisions to the financial disclosure form filed by Kushner’s wife, Ivanka Trump, bumped up each of those debts to a range of $5 million to $25 million.
‘Versions of the couple’s disclosures made public in July valued those debts at $1 million to $5 million apiece. The loans were extended by three banks: Bank of America, New York Community Bank and Signature Bank.’
POLITICO went on to report:
‘Taken together, the sequence of filings indicates that the increases in the amounts outstanding under the lines of credit took place between last March, when Kushner’s form was first submitted, and June, when Ivanka Trump’s was first filed. The forms report the value of assets and debts in broad ranges. It’s possible the amounts outstanding have changed categories since last June.
‘The changes take Kushner and Trump’s reported debts to a range of approximately $31 million to $155 million from the previously reported range of between about $19 million and $98 million.’
Kushner’s wife, Ivanka Trump, first filed her disclosure form in July and reported the debts at the same level her husband originally did. After revisions were made to the form though before it was certified by the Office of Government Ethics on the December 26, the outstanding debts for the credit lines was raised to the higher level.
One debt that actually went down was a Visa account that went down from the $100,001 to $250,000 range to the $50,001 to $100,000 range.
Kushner and his father, Charles, hold the The Bank of America and New York Community Bank credit lines jointly. Kushner owns the Signature Bank credit line jointly with his mother, Seryl.
According to POLITICO:
‘The Kushner family’s real estate empire has reportedly come under financial stress in the past year or two, due to changes in the real estate market and difficulties the firm has faced in securing financing for some projects. Many of the problems stem from the Kushner Companies’ decision to purchase the 666 Fifth Avenue building in Manhattan in 2007 for $1.8 billion.’
Kushner had hopes of tearing down the Manhattan building to replace it with a larger grander building that would contain a five-story retail mall, hotels, and condominiums. According to Fortune:
‘Kusher Cos. hoped to attract investors all over the world, from China to Qatar to France, to the reimagined tower in an effort to relieve a $1.2 billion mortgage due in February 2019. But a proposed deal with Anbang Insurance Group, which has ties to the Chinese government, fell apart.
‘Kushner, Vornado, and other lenders will likely now have to renegotiate that debt.’
The bottom line is that Jared Kushner and the president’s daughter, Ivanka, are dealing with a mounting heap of debt that only seems to worsen with time. Check out what Twitter had to say about them:
Featured image by Xinhua/Yin Bogu via Getty Images