Jun 3, 2022 - World

House panel investigates Saudi investment in Jared Kushner firm

Jared Kushner, son-in-law of former US President Donald Trump, inside the Congress Center on the opening day of the World Economic Forum (WEF) in Davos, Switzerland, on Monday, May 23.

Jared Kushner at May's World Economic Forum in Davos, Switzerland. Photo: Hollie Adams/Bloomberg via Getty Images

A House committee has launched an investigation into former Trump White House adviser Jared Kushner and a $2 billion investment in his private equity company from a wealth fund controlled by Saudi Arabia's crown prince.

Why it matters: House Committee on Oversight and Reform chair Carolyn Maloney (D-N.Y.) wrote to Kushner on Thursday, saying the panel was investigating "whether your personal financial interests improperly influenced U.S. foreign policy during the administration of your father-in-law, former President Trump." Kushner denies any wrongdoing.

  • "The Committee is concerned by your decision to solicit billions of dollars from the Saudi government immediately following your significant involvement in shaping U.S.-Saudi relations," Maloney said.

Driving the news: The investigation concerns Kushner's role in raising money for his firm, Affinity Partners, which he formed after leaving office, from Saudi Public Investment Fund (PIF), which is controlled by Crown Prince Mohammed bin Salman.

  • "Your close relationship with Crown Prince bin Salman, your pro-Saudi positions during the Trump Administration, and PIF’s decision to fund the lion’s share of your new business venture — only six months after the end of your White House tenure — create the appearance of a quid pro quo for your foreign policy work during the Trump Administration," Maloney said.

What they're saying: A spokesperson for Kushner said in a statement to the New York Times that while "achieving six peace deals in the Middle East, Mr. Kushner fully abided by all legal and ethical guidelines both during and after his government service."

  • "He is proud to be among many private sector stakeholders advancing connectivity between Americans, Israelis and Arabs to encourage continued regional progress," the statement added.

What to watch: Maloney has given Kushner until June 16 to respond to the allegations and provide the panel with documents dating back to January 2017, when he first became a senior White House adviser.

  • Representatives for Kushner and the PIF did not immediately respond to Axios' request for comment.

Read the letter in full, via DocumentCloud:

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