The U.S. Attorney’s office in Brooklyn subpoenaed Deutsche Bank records concerning entities tied to Kushner Companies, according to a report in the New York Times.
It’s unclear what kind of records prosecutors wanted and why, the Times reported. The paper also noted it found no indication that the request had anything to do with a federal probe into Russian meddling in the 2016 U.S. Presidential election.
“We are unaware of any inquiry directed at Deutsche Bank from the EDNY and have no reason to believe there is one,” a Kushner spokesperson told The Real Deal, pointing out that the New York Times story cites unnamed sources.
Deutsche Bank has lent hundreds of millions of dollars to Kushner Companies. Jared Kushner, who left the family firm to join the White House, and his mother have a personal credit line with the German lender. The bank also refinanced the Kushner Companies-owned retail condo at the New York Times building with a $285 million mortgage.
Brooklyn federal prosecutors have been investigating Kushner’s use of the EB-5 visa program, but the Times noted that Deutsche Bank did not appear to be involved in real estate developments involving EB-5 funding. [NYT] — Konrad Putzier