Washington: Senior adviser Jared Kushners real estate firm received a $285 million loan a month before Election Day from Deutsche Bank that has lent millions to his father-in-law President Donald Trump in the past, the media reported.
According to the Washington Post report on Sunday, Kushner was acting as 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 told The Post 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 Post that the senior adviser 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".
A former ethics official said he would have recommended that Kushner include the loan on the disclosure because of how large it is and the implications of being the guarantor of the loan.
Deutsche Bank has also been tied into the investigation into possible Russian interference in the 2016 presidential election.
Kushner is reportedly under scrutiny for meetings with Russian officials, reports The Hill magazine.
House Intelligence Committee leaders have been pushing the bank to share information about Trump's financial dealings with Russia.
Trump's personal financial disclosure report showed that he owes a debt of $130 million to Deutsche Bank Trust Company Americas, suggesting the bank is one of the President's major lenders.