Jared Kushner’s real estate company received a $285 million loan a month prior to Election Day from Deutsche Bank, a bank that has also lent millions to President Donald Trump in the past, The Washington Post reports.
At the time Kushner was both an adviser to the Trump campaign and working at his real estate company when his firm received the loan from Deutsche Bank.
The White House said in a statement that Kushner “will recuse from any particular matter involving specific parties in which Deutsche Bank is a party”. Kushner also reportedly made a personal guarantee on the loan, which he did not reveal on his financial disclosure form with the Office of Government Ethics.
A lawyer representing Kushner told The Washington Post that his client was not required to disclose the loan because of guidance from the ethics office that “clearly states that filers do not have to disclose as a liability a loan on which they have made a guarantee unless they have a present obligation to repay the loan”.
Deutsche Bank has also been tied into the investigation into possible Russian meddling in the 2016 election, with Kushner reportedly being under scrutiny for meetings with Russian officials.
House Intelligence Committee leaders have been pushing Deutsche Bank to share information about Trump’s financial dealings with Russia. The bank has rejected the request, citing privacy laws that would prevent them from sharing the information.
Trump’s personal financial disclosure report showed that he has a $130 million debt to Deutsche Bank Trust Company Americas, suggesting the bank is one of the President’s major lenders, The Washington Post reads.