BREAKING: Trump’s Son-In-Law Gets $400 Million From Foreign Backers, Influence In White House
Trump’s son-in-law and senior adviser, Jared Kushner, is getting a sizeable chunk of change in the amount of over $400 million from a Chinese company that is looking to invest in his family’s Manhattan office tower on 666 Fifth Ave.
Real estate experts suspect foul play considering its largely favorable terms for a property that has been struggling financially. As part of the deal, the Kushners will only have to pay 20% of what they owe on their existing mortgage.
What’s interesting is that the deal would value the property at $2.85 billion, the most ever for a single building in the area. But, in terms of buying interest with the family of President Trump, sounds like a small price to pay.
The question is, why is Kushner getting such a great deal? Could it be due to the fact that his father-in-law is president of the United States? That’s not only an extreme possibility – it looks like this is just another way for a foreign firm to gain influence over the Trump administration.
“This is a huge, huge exit strategy for an office building,” said Joshua Stein, a New York real estate lawyer. “It does sound like a home run of a transaction for Kushner and his group.”
While Kushner claims that he has taken significant steps to recuse himself from any potential conflict of interests, some government ethics experts are arguing that his family business is so close-knit that it doesn’t go nearly far enough.
“At the very least, this raises serious questions about the appearance of a conflict that arises from the possibility that the Kushners are getting a sweetheart deal,” said Larry Noble, general counsel at the Campaign Legal Center. “A classic way you influence people is by financially helping their family.”
There’s another caveat of the deal that also affects Trump personally. Vornado Realty Trust (who partners with Trump) is also reaping a financial windfall from it. They will get a payout that is 10 times its stake. This just goes to show that partnering with the president of the United States has its benefits.
Trump could also be throwing more business their way with his major infrastructure initiative, that hasn’t been fully announced yet. The Chairman of Vornado, Steven Roth, is co-chairing a committee that is heading up Trump’s infrastructure deal – and any infrastructure spending is likely to help them even further. Everyone Trump is involved with is getting paid somehow.
Featured Image via Getty.