what have we here
President Trump's son-in-law and senior adviser, Jared Kushner, apparently failed to fully divulge some details of his financial ties in his government disclosure form — namely the fact that he holds a stake in a real-estate startup, Cadre. Other stakeholders in Cadre — and subsequently business partners of Kushner — include banking giant Goldman Sachs and billionaires George Soros and Peter Thiel, The Wall Street Journal revealed Tuesday.
Kushner, alongside his brother and a family friend, started Cadre in 2014, in part thanks to a "$250 million line of credit from the family of George Soros, a top Democratic donor whom Mr. Trump criticized during this presidential campaign," The Wall Street Journal reported. Kushner holds his stake in Cadre through his company BFPS Ventures, which owns as much as half of Quadro Partners Inc. Quadro owns "at least 75 percent" of Cadre.
Though Kushner did list his ownership of BFPS Ventures in his government financial disclosure form, Cadre was not mentioned. An attorney representing Kushner told The Wall Street Journal that a "revised version" of his form does describe his stake in Cadre, and noted that Kushner has "resigned from Cadre's board, assigned his voting rights, and reduced his ownership share" to 25 percent.
That wasn't all Kushner failed to note: The Wall Street Journal also uncovered at least $1 billion worth of loans for properties and companies that Kushner owns in part. The more than 20 lenders involved reportedly include Bank of America Corp., Blackstone Group LP, Citigroup Inc., UBS Group AG, Deutsche Bank AG, and Royal Bank of Scotland Group PLC.