Democrats open probe into Jared Kushner's investment firm

 June 14, 2024

Donald Trump's son-in-law Jared Kushner has become the target of a congressional investigation concerning his private equity firm.

Senate Finance Committee Chairman Ron Wyden (D-Or.) cited reports that 99% of the investments in Affinity Partners are from foreign sources, particularly in the Middle East.

Kushner was a top foreign policy adviser in the Trump administration. He brokered the Abraham Accords, which normalized Arab-Israeli relations.

Dems probe Jared Kushner

Months after leaving the White House, Kushner's firm received $2 billion from Saudi Arabia's Public Investment Fund.

In a letter to Affinity Partners Chief Financial Officer Lauren Key, Wyden cited reports that the fund's investment committee opposed the deal over Affinity's lack of experience but was overruled by Crown Prince Mohammed Bin Salman.

"This series of events creates an appearance that Affinity’s investors are motivated not by commercial interests of seeking a return on investment, but rather by strategic considerations of foreign nationals seeking to funnel money to U.S. individuals with personal connections to former President Trump," Wyden wrote.

The probe is an apparent response to the Republican party's stalled impeachment investigation into alleged influence peddling by Joe Biden and his son Hunter Biden, who was found guilty on felony gun charges this week.

Echoes of Biden investigation

Republicans have dismissed the gun charges as a distraction from more serious wrongdoing involving the Bidens, including possible violations of the Foreign Agents Registration Act (FARA).

Wyden cited the same law in his letter, which described Kushner as inexperienced. Republicans have used similar language to characterize Hunter Biden, who found lucrative job connections overseas despite a lack of expertise.

"Mr. Kushner's limited track record as an investor, including his nonexistent experience in private equity or hedge funds, raise questions regarding the investment strategy behind the seeding investments and lucrative compensation that Affinity received from the Saud, PIF and other sovereign wealth funds," Wyden wrote.

Republicans defend Kushner

The lead Republican investigator into the Biden family, James Comer (R-Ky.), knocked the "hypocrisy" of Democrats who have overlooked the Biden family's foreign connections.

"Instead, they continue to obsess over President Trump and his family's financial success," Comer said.

In February, Kushner defended his work with the Saudis and said he is not keen on returning to Washington.

"I've been very clear that my desire at this phase of my life is to focus on my firm," Kushner said. "I've really enjoyed the opportunity as a family to be out of the spotlight."

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