Trump son-in-law Jared Kushner 'inadvertently omitted' $10m dollar assets

Trump son-in-law Jared Kushner 'inadvertently omitted' $10m dollar assets

US president Donald Trump's son-in-law and senior adviser Jared Kushner "inadvertently omitted" more than 70 assets worth at least $10.6m from financial disclosure reports.

The previously unreported assets were included in updated personal disclosure reports certified by the US Office of Government Ethics on Thursday as part of the "ordinary review process", according to Mr Kushner's filing .

Among the new set of assets disclosed, which could be worth as much as $51m, he reported owning an art collection worth between $5m and $25m.

The new forms also show Mr Kushner sold his interest in Monmouth Mall in Eatontown, New Jersey, and no longer has a stake in a company that had held an interest in apartments in Toledo, Ohio.

Mr Kushner also clarified his $5m and $25m stake in a holding company that owns Cadre, a real estate tech startup he co-founded with his brother, Joshua, that investors valued at $800m.

Mr Kushner's wife and the president's daughter, Ivanka Trump, also filed new federal disclosures.

She reported assets of at least $66m and earned at least $13.5m in income last year from business ventures, including more than $2.4m from the new Trump hotel near the White House.

The filings reflect the extraordinary wealth of Ms Trump and her husband, who jointly made at least $100m since the beginning of 2016 and hold at least $206m in combined assets, including some that they report are being sold off.

The couple stepped down from running their companies and left a lavish Manhattan apartment to move their three children to Washington this year.

The new disclosures come as Mr Kushner faces renewed questions about his vast business holdings and how they may conflict with his role.

A lawyer advising him said federal officials are allowed to amend their initial financial disclosures before they are certified, and stressed that Mr Kushner had complex finances.

"Jared and Ivanka have followed each of the required steps in their transition from private citizens to federal officials. The Office of Government Ethics has certified Jared's financial disclosure, reflecting its determination that his approach complies with federal ethics laws," said lawyer Jamie Gorelick.

"Ivanka's financial disclosure form is still in the pre-certification stage, as she began the process later."

Trump son-in-law Jared Kushner 'inadvertently omitted' $10m dollar assets

Clay Johnson, who served as president George W Bush's director of presidential personnel, said he was surprised by the number of updates after six months.

"The way we ran it ... is that the general direction to all nominees is tell us what we ask for now. We will then stand behind you whatever may come in. But there are to be no surprises," he said.

The federal disclosures filed by Ms Trump were her first since taking on an official, unpaid role at the White House.

The bulk of her assets came from the $50m value she placed on her business trust, formed to hold a collection of her businesses and corporations. The trust produced between $1m and $5m in income.

She got $2.5m in salary and severance when she resigned from the Trump Organisation in January. She received $787,500 as an advance for her book Women Who Work.

In addition, Ms Trump also revealed that she will be receiving recurring annual payments of $1.5m from some of her real estate and consulting interests, according to agreements she worked out in consultation with the Office of Government Ethics.

Her filing notes that the fixed payments were necessary to reduce her interest in the performance of the businesses.

The documents also show that the couple resigned from an array of corporate positions: Mr Kushner stepped down from 266 such posts, while Ms Trump resigned from 292 positions.

AP

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