Kushner Cos. subpoenaed by feds after AP report




  • In Business/Economy
  • 2018-04-20 10:28:42Z
  • By Bernard Condon, AP Business Writer
Kushner Cos. subpoenaed by feds after AP report
Kushner Cos. subpoenaed by feds after AP report  

NEW YORK (AP) -- The Kushner Cos. has been subpoenaed by federal prosecutors for information related to an Associated Press report that the company filed dozens of false documents about its buildings in New York City.

The real estate company issued a statement saying it has "nothing to hide and is cooperating fully with all legitimate requests for information, including this subpoena."

The statement Thursday acknowledged that the federal subpoena arrived last month, a day after the AP reported the Kushner Cos. routinely filed false paperwork with the city stating it had zero rent-regulated tenants in buildings across the city when, in fact, it had hundreds. The AP report covered a three-year period when the real estate company was run by Jared Kushner, President Donald Trump's son-in-law who is now a senior adviser.

Tenant advocates say such false filings allow landlords to avoid heightened city oversight designed to keep lower-paying, rent-regulated tenants from being harassed during construction and pressured to leave, freeing up apartments for higher-paying residents.

Kushner Cos. told the AP at the time of its report that the company outsources preparation of construction permit applications and fixes any mistakes immediately. Records show the company did file some amended documents, often more than a year later.

The AP report, based on work by nonprofit watchdog Housing Rights Initiative, has sparked an inquiry by the New York state attorney general's office and a city council investigation.

The Wall Street Journal reported earlier Thursday that the U.S. attorney's office in Brooklyn had subpoenaed housing paperwork from the company. The office declined to comment to the AP

The Brooklyn attorney's office also has reportedly subpoenaed the Kushner Cos. over a visa-for-investment program to raise money from Chinese investors for its real estate projects.

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Kushner Evicting Times Square Tenant, Endangering Loan Payments
Kushner Evicting Times Square Tenant, Endangering Loan Payments

Lenders approved the termination of the lease for the tenant, Gulliver's Gate, at the end of last year, according to debt filings. Kushner Cos. -- owned by the family of Jared Kushner, the White House senior adviser and son-in-law of President Donald Trump -- is seeking tenants for the space, but "there have been no firm" letters of intent, according to the records. Any loss may affect Kushner Cos.' ability to keep up with debt payments on the Times Square property, one of the company's most valuable in the city.

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