According to a report published by The Guardian, Overseas investment flowed to Cadre while Trump’s son-in-law works as US envoy, raising questions on conflict of interest.

A real estate company partly-owned by Jared Kushner has received $90M in foreign funding from an opaque offshore vehicle since he entered the White House as a senior adviser to his father-in-law Donald Trump.

Kushner kept a share in Cadre after he resigned from Cadre’s board and reduced his ownership share to less than 25% to join the White House, according to his attorneys. He failed to list Cadre on his first financial debit, later adding that the omission was inadvertent. Cadre says he is not actively involved in the company’s operations.

According to some ethics experts, who raised concerns over the lack of transparency around the investments, Cadre’s foreign funding could create hidden conflicts of interest for Kushner as he performs his work for the US government.

Investing in Cadre via Goldman Sachs are not disclosed by the companies, which are not required to make the information public. Two sources familiar with the firm said much of the money came to the Cayman Islands vehicle from a second offshore tax haven, while some came from Saudi Arabia.

Trump and several members of his administration, including Kushner, have bucked precedent by retaining business interests after entering the government. George W Bush and Bill Clinton moved their wealth into “blind trusts”, while Barack Obama had few assets beyond savings accounts and investments in index funds.

Richard Paint, a former ethics lawyer in Bush’s administration who ran for the Democratic US Senate nomination in Minnesota last year, said he was troubled by the lack of disclosure around some of Cadre’s funding.

“The problem with Kushner – and with Trump – is that we have all these corporate entities, and often nobody knows who is invested in them and where those investors borrowed their money. We simply have no idea,” said Painter.

Source: The Gaurdian