Jared Kushner failed to disclose his ownership of a real estate startup linked to Goldman Sachs and George Soros, according to a report Tuesday.
Kushner, President Trump’s son-in-law and top adviser, didn’t note on his government financial disclosure form that he is a part-owner of real estate finance firm Cadre, which matches investors with real estate projects, the Wall Street Journal reported.
Cadre’s other investors include Goldman Sachs, billionaire and top Democratic donor Soros and PayPal co-founder Peter Thiel.
Kushner also didn’t disclose at least $1 billion in loans from more than 20 lenders, as well as various properties and companies he partly owns, according to the Journal, which reviewed securities and other filings.
More than $300 million of the debt was backed by personal guarantees, the review found.
Kushner’s lawyer Jamie Gorelick said he reported his ownership of a company called BFPS Ventures LLC, which includes Cadre. The form, though, doesn’t specifically mention Cadre.
Gorelick said Kushner’s stake in Cadre which he founded in 2014 with his brother Joshua and pal Ryan Williams is outlined in a revised financial disclosure form that will be made public once it’s certified by ethics officials.
Kushner previously discussed his Cadre ties with the Office of Government Ethics and has “resigned from Cadre’s board, assigned his voting rights and reduced his ownership share,” Gorelick told the Journal.
The lawyer added that it was “very normal” for financial disclosure forms to be revised and that the form was prepared for Kushner by his lawyers.
Although Kushner’s Cadre ownership should have been disclosed, it doesn’t appear that he violated disclosure rules by not publicly reporting his debts and guarantees, ethics experts told the paper.
“Anything that presents a potential for the conflict of interest should be disclosed so that the public and the press can monitor this,” said Trevor Potter, a Republican former chairman of the Federal Election Commission.
Kushner, 36, agreed to divest more than 80 assets after he and wife Ivanka Trump became top aides to the president.
Kushner still retains more than 200 other assets worth at least $116 million, the Journal said.