Jared Kushner credit line debts increased in 2017

Jared Kushner, a White House aide and President Donald Trump’s son-in-law, appears to have drawn more money out of three separate lines of credit in the months after he joined the White House last year, a newly released document shows.

Recent revisions to the financial disclosure form filed by Kushner’s wife, Ivanka Trump, bumped up each of those debts to a range of $5 million to $25 million.

Versions of the couple’s disclosures made public in July valued those debts at $1 million to $5 million apiece. The loans were extended by three banks: Bank of America, New York Community Bank and Signature Bank.

Taken together, the sequence of filings indicates that the increases in the amounts outstanding under the lines of credit took place between last March, when Kushner’s form was first submitted, and June, when Ivanka Trump’s was first filed. The forms report the value of assets debts in broad ranges. It’s possible the amounts outstanding have changed categories since last June.

The changes take Kushner and Trump’s reported debts to a range of approximately $31 million to $155 million from the previously reported range of between about $19 million and $98 million.

When Ivanka Trump first filed her disclosure form in July, she reported the debts at the same level her husband originally did. However, in revisions to the form before it was formally certified by the Office of Government Ethics on Dec. 26, the outstanding debt for the three credit lines was raised to the higher level.

One debt did drop in value as Ivanka Trump’s form was revised: the amount owed on a Visa account went down to a range of $50,001 to $100,000, from $100,001 to $250,000.

The Bank of America and New York Community Bank credit lines are held jointly by Kushner and his father, Charles, according to the disclosure forms. The Signature Bank loan is owed by Jared Kushner and his mother, Seryl.

The Kushner family’s real estate empire has reportedly come under financial stress in the past year or two, due to changes in the real estate market and difficulties the firm has faced in securing financing for some projects. Many of the problems stem from the Kushner Companies’ decision to purchase the 666 Fifth Avenue building in Manhattan in 2007 for $1.8 billion.

Last year, the Kushner firm floated a plan to tear down and rebuild the office tower, but another company that bought nearly half the building in 2011 said last fall that the plan appeared to not be feasible.

It’s unclear whether the uptick in the three lines of credit owed by Jared Kushner is tied to the Kushner Companies’ reported financial challenges.

A spokesman for attorneys representing Kushner and Ivanka Trump declined to comment on the increased debts.

A Kushner Companies spokeswoman also had no comment.


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