Congressman Ted Lieu told Newsweek that Kushner's failure to list a company called Cadre on his initial financial disclosure forms—an oversight that could mean millions for the president’s son-in-law—is an ethical lapse that should have severe ramifications. "It appears [Kushner] ended up being the beneficiary of that omission," said Lieu, a California Democrat. "He enriched himself by failing to disclose the asset."
Kushner's lawyer called Kushner's omission an administrative error.
Kushner’s lawyer has said that her client’s failure to list Cadre on the initial filing in March was merely an "administrative error." But that "error" allowed Kushner to maintain a stake in the start-up at a time when the three-year-old business doubled its venture funding from rich private investors.
Experts say Cadre, an online investment platform in Real Estate, could allow foreign buyers purchase shares in real estate.
Cadre operates as an online platform, connecting wealthy investors like Soros, for example, to emerging real estate properties in which they can buy partial ownership. The billionaire was one of Cadre's initial key investors, opening up a $250 million line of credit between his family offices and Kushner’s start-up. But ethics experts think the real estate investing platform may allow foreign investors to hide their identities to the public, though not to Cadre insiders.