Jared Kushner’s business ventures are under the microscope once again.
According to Knewz, a Senate investigation has called into question both the profitability of Kushner's firm, Affinity Partners, and its substantial foreign investments.
The probe, orchestrated by the Democrats, raises concerns over conflicts of interest and potential violations of federal regulations regarding foreign entities.
Affinity Partners, started by Kushner post-White House, has not shown financial success, reporting no substantial profits back to its investors despite amassing funds of over $150 million over three years. This situation garners attention because a considerable portion of this funding, including a significant $87 million, originates from Saudi Arabia, spotlighting potential conflicts given Kushner’s previous senior role in U.S. foreign policy under President Donald Trump.
Kushner's past dealings have often been tinged with scrutiny. During his time as a senior White House advisor, he managed to draw $82 million in external income, along with his wife Ivanka Trump, yet declarations pointed to a stable net worth, raising eyebrows.
Affinity Partners, based in Miami, focuses primarily on growth-stage companies. But the fact that after three years there has been no profit return to investors is notably alarming. This detail has incited significant critique from Ron Wyden, chairman of the Senate Finance Committee, concerning the motivations behind the foreign investments.
Senator Ron Wyden expressed his distrust towards Affinity's financial operations. Wyden felt the business model suggested less about sound investment strategy and more about covert transactions:
Affinity’s investors may not be motivated by commercial considerations, but rather the opportunity to funnel foreign government money to members of President Trump’s family, namely Jared Kushner and Ivanka Trump.
Chad Mizelle, Affinity's chief legal officer, refuted these claims of wrongdoing, emphasizing adherence to regulations and mentioning that delays in profit distributions are commonplace in the industry.
Concerns are not only about profitability and conflicts of interest but also about compliance with the Foreign Agents Registration Act (FARA). The act mandates registration and transparency of entities acting at the behest of foreign powers. Wyden suggested that the corporate structure and operation methods at Affinity Partners might be orchestrated to avoid these legal bounds. In a statement, he highlighted the worrisome aspects of Kushner's firm’s operations, which might align more with foreign agendas rather than pure business pursuits:
Affinity’s failure to deploy capital in a timely fashion while charging excessive fees has reinforced my view that Affinity is likely part of a compensation scheme involving US political figures designed to circumvent the Foreign Agents Registration Act (FARA).
Such severe accusations underline the intricate webs woven between international finance and U.S. political figures, where transparency is vital for maintaining public trust.
History shows that Kushner has missed revealing complete financial data before, particularly in 2017 when undermined financial disclosures on security clearance forms showed he had a billion in undisclosed loans. This raises questions about whether past indiscretions are routine rather than exceptions.
This ongoing probe by the Senate into Kushner's business dealings highlights a crucial intersection of international investment and U.S. politics, questioning whether personal gains are overshadowing national interests and legal boundaries. The focus is firmly on how Kushner’s business activities align with his influence and access to the U.S. government, and whether those actions uphold or violate the expected standards of transparency and accountability in dealing with foreign investments.
