Friday, March 9, 2018

Jared Kushner: The Apple Didn't Fall To Far From the Tree

Jared Kushner's father is in unscrupulous person- Not unlike his father in law.

Bloomberg: Kushner’s Felon Father Back at Helm of New York Empire With Two Fellow Inmates
Charles and Jared Kushner

 Charles completed his two-year prison sentence in 2006 for making illegal campaign contributions and hiring a prostitute to entrap his brother-in-law. 
It’s hard to find work right out of prison. But Avram Lebor and Richard Goettlich walked from their Alabama penitentiary into top jobs at the real estate company then run by Jared Kushner, now President Donald Trump’s son-in-law and senior adviser. The two men, convicted in separate sprawling fraud schemes, were hired several years ago by his father, Charles Kushner, who had been locked up in the same federal prison with them.
Working alongside him as the firm’s director of acquisitions is Lebor, 68, Kushner’s fellow inmate who joined the company in 2009. Lebor and Goettlich, 61, were both in the prison when Charles arrived in April 2005. Lebor was serving a seven-year sentence after he fraudulently promoted himself as a lender and mortgage broker and collected $9 million in advance fees while promising to obtain $2.5 billion in loans for dozens of projects that were never funded. Goettlich got 10 years after pleading guilty to securities fraud, money laundering and tax evasion in 1998. At his family’s firm, he’d defrauded thousands of investors in a Ponzi scheme involving office equipment leases. An initial order in 1999 to repay $271 million in fines and refunds was at the time the third-largest penalty ever imposed in a securities fraud case.
 Being unscrupulous seems to be the name of the game with the Kushner syndicate
“It can’t hurt to be doing business with Jared Kushner’s family. It’s a road to the administration.”

Excerpts from a recent Economist article 

He (Jared Kushner)  was unsuccessful, and he (Jared Kushner) did take steps before entering the White House to dissociate himself from Kushner Companies. But he has prompted further suspicion by being so unforthcoming about his financial assets that he has had to make 39 revisions to his disclosures. He has also amended his responses to a national-security questionnaire, adding the names of over 100 foreign contacts, including a Russian banker (Jewish? It's a very fair question) who claimed to have discussed business opportunities with him (the administration said they discussed diplomatic relations). Because of these omissions, Mr Kushner, the administration’s occasional secretary of state, has been denied access to sensitive intelligence and in any recent administration would have been fired. Yet all this looks trifling compared with the indiscretions he now stands accused of.
Doubtful Kushner would not have been fired from any administration, recent or otherwise.

According to the New York Times Mr Kushner held meetings in the White House with the bosses of a bank and a private-equity firm, Citigroup and Apollo Global Management, around the same time as they were providing his family business with over half a billion dollars in loans.
Both firms were also lobbying the government on policy matters.
Citigroup wanted an easing of financial regulation. Apollo stood to benefit from an emerging tax bill and infrastructure plan.
Mr Kushner allegedly discussed giving one of Apollo’s bosses, Joshua Harris, a White House post. Mr Kushner says he has not advanced his business interests in office, which would be a crime. Yet his behaviour has created an appearance of conflict, which was hitherto a sackable offence, and has not escaped the notice of foreign spies. According to the Washington Post, American spooks are aware of officials in at least four countries, the United Arab Emirates, China, Israel and Mexico, airing schemes to take advantage of Mr Kushner’s complicated financial affairs. Mr Mueller is also interested in the issue. According to press reports, he is looking at whether the business interests of the president’s son-in-law, in particular his efforts to keep 666 Fifth Avenue afloat, influenced American policy.
666 Fifth Avenue is mentioned in the post below, best read entirely:
 flashback: Securities Exchange Commision Probes Kushner for Use of EB5 Immigrant Investors Program
excerpt:  666 Fifth Avenue
The EB-5 program, which gives green cards to foreigners who invest in job-creating real estate projects in low-employment areas of the U.S., has been criticized for funneling money to luxury developments through gerrymandering

Economist excerpt: Mueller’s mulling it

Mr Kushner is in trouble enough without having the special counsel to worry about. The erstwhile Trump-whisperer is reviled by the media, increasingly ignored by Republican power-brokers and, it is said, mocked by the president, who feeds on weakness. Even before the latest allegations, Mr Kushner had little to show for a year with the federal government at his beck. He does not seem to have moderated Mr Trump much. Partly as a result, he has made little headway with his pet projects. His Middle East peace bid never did stand much chance in the face of Israeli and Palestinian obduracy. Nor has Mr Kushner thrived personally. He has displayed a businessman’s exaggerated disdain for government, meddled naively in court politics and expressed few firm or original views. His self-possession now seems anchored more in a feeling of entitlement than steadfastness.

His appointment was not worth bending the law for. Indeed, it has shown how fragile are the guardrails that separate America from the sorts of nepotistic, corrupt regimes Mr Kushner formerly tried to do business with. There is a complacent view on that, too. Some insist that America’s institutions are robust enough to protect it. But that ignores the fact that the prerequisite of any democratic institution is public trust, which was in dwindling reserve before Mr Trump’s election, and has suffered further damage in the chaos of his administration. Almost half of Americans believe “corruption is pervasive in the White House”.
I'm quite certain almost half of Americans believed corruption is pervasive in the White House long before Trump

1 comment:

  1. Think of the US as a driverless car that has a glitch that places it in the path of opposing traffic on an off ramp to a holiday getaway. What could possibly go wrong.