A real estate company owned by senior adviser to U.S. President, Jared Kushner, received a $285-million loan from a German bank one month before the U.S. election.
According to the Washington Post, the bank has also lent millions of dollars to U.S. President Donald Trump in the past.
Kushner's conflict is the senior White House official held positions as an adviser to the Trump campaign and as employee at his own real estate company when the firm received the loan from Deutsche Bank. He also, reportedly, made a personal guarantee on the loan which he failed to declare to the Office of Government Ethics on his financial disclosure form.
The White House informed the Post that Kushner “will recuse from any particular matter involving specific parties in which Deutsche Bank is a party.”
The Deutsche Bank has also been linked to the investigation into possible Russian interference in the 2016 U.S. election. Kushner is reportedly under scrutiny for meetings he took with several Russian officials.
House Intelligence Committee leaders have been pushing the bank to share information about Trump’s financial dealings with Russia. But, Deutsche Bank has denied the request, citing privacy laws.
Trump's personal financial disclosure report showed that he owes $130 million to Deutsche Bank Trust Company Americas.
A legal representative of Kushner's issued a release to the Post stating that Kushner was not required to disclose the loan. The statement explained that directive from the ethics office “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.”
However, a former ethics official told the Post that he would have personally recommended that Kushner declared the loan because of the amount and the implications of him being the guarantor.