Thanks to extensive media coverage of outright corruption between Jared Kushner and a Chinese Investment company, the deal has been called off.
Earlier this month, we brought you news of President Trump’s son-in-law and close political adviser Jared Kushner and his cushy deal with a Chinese company. The deal would have forgiven the Kushner family’s $250 million debt to China for just 20 percent of the debt paid.
In exchange for their sweet deal, the Chinese company, Anbang Insurance Group, would have invested in the family’s office space in Manhattan for $4 billion, despite the fact that the building is worth a maximum of $2.85 billion.
Why would this Chinese company overpay by such a significant amount? Considering Kushner’s proximity to the President, as well as currently strained relations between the two global superpowers, the generous deal was almost certainly an attempt at garnering favor with President Trump himself.
Instead, the Kushner family has balked at scrutiny from the press and Congress. They now say they have severed the deal with Anbang and are considering other investments for their Fifth Avenue office space. The family’s statement did not mention why they had severed ties with Anbang, and the Chinese company offered no comment for the sudden change.
Though media pressure was likely a significant factor, so, too, was a letter written by five Democratic Lawmakers last week to a White House lawyer in which they referred to the intra-coutry deal as “highly troubling.”
As Kushner’s stock continues to rise at the White House, it is more important than ever that we monitor closely his family’s business goings-ons. While Trump continues his assault on the media, this story proves that media coverage is often the sunlight and disinfectant that corruption most hates.