Kushner's White House security clearance downgraded

Citigroup also lent Kushner Cos.

White House Senior Advisor Jared Kushner takes his seat as USA ambassador to the United Nations Nikki Haley (R) looks on before the start of a UN Security Council meeting concerning issues in the Middle East, at UN headquarters in New York City, Feb. 20, 2018. Among other things, the two men discussed a possible White House job for Mr. Harris.

Jared Kushner's family real estate business secured two bog loans after a White House meeting with bank executives.

The funding from Apollo Global Management went toward the Kushner Company's mortgage on a Chicago skyscraper, while the loan from Citigroup was used for the Kushner Company's Brooklyn office buildings.

"Those involved in the process again have confirmed that there are dozens of people at Mr. Kushner's level whose process is delayed, that it is not uncommon for these clearance reviews to take this long in a new administration, and that the current backlogs are now being addressed", Mirijanian said. "As ..."

Kushner, who lost his security clearance to White House following reports that he breached the ethics rule, found himself in the middle of another controversy after the report alleged that Kushner met with the top heads of the lending firms at the White House past year, after which he received an exorbitant sum of loan to aid his company's business ventures.

It was after a White House meeting with Citigroup big Michael Corbat that Kushner got the $325 million loan.


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There is little precedent for a top White House official meeting with executives of companies as they contemplate sizable loans to his business, say government ethics experts. Kushner steers USA policy in the Middle East, for example, but his family company continues to do deals with Israeli investors.

In recent days, it has emerged that Kushner's White House security clearance has been downgraded.

These investigations all appear to be separate from that of special counsel Robert Mueller, who is investigating possible collusion between the Trump campaign and Russian Federation during the 2016 election. Kushner's firm has sought investments from the Chinese insurer Anbang and from the former prime minister of Qatar.

Kushner resigned as chief executive of Kushner Cos. when he joined the White House last January, and he sold a small portion of his stake in the company to a trust controlled by his mother. According to reports, Mueller has been looking into the financial dealings of a number of Trump family members, including Kushner. Kushner Cos. attorneys had argued that exposing the names would lead to "politically motivated" media coverage and "unfair sensationalism". But he retains a stake in parts of the business, according to his most recent financial-disclosure form. They are likely worth much more, because that estimate has his firm's debt subtracted from the value of his holdings. But there are at least 1.8 billion reasons why he might be compromised.

Trump could simply grant a waiver for Kushner to receive a high-level security clearance despite the unresolved background investigation.

Citigroup, Apollo and the White House did not immediately respond to CNBC's requests for comment, which were sent outside of office hours. And its executives, including Mr. Harris, had tens of millions of dollars personally at stake in the tax overhaul that was making its way through Washington previous year.