Report: The Kushner Family Received Three PPP Loans
On Monday, the Treasury Department disclosed the names of individuals who received any loan larger than $150,000 under the Paycheck Protection Program through the Small Business Administration. According to a report by the Daily Beast, a number of Trump allies and political elite received government payouts through the program.
- A $350,000 to $1 million loan went to Observer Holdings, LLC, which is the parent entity of Observer Media. Observer Media was formerly owned by White House Senior Advisor Jared Kushner. However, Jared Kushner’s brother-in-law Joseph Meyer listed the organization under the Observer Capital firm.
- Disclosed documents revealed Princeton Forrestal LLC received a $1 million to $2 million loan. Esplanade Livingston LLC owns the land where the Westminster Hotel sits and received a $350,000 to $1 million loan. Mortgage documents disclosed this property was owned by CK Livingston LLC, bearing the initials of Kushner’s father Charles. Charles has received personal income from this hotel.
- The disclosure has raised questions about who exactly stood to benefit from the Paycheck Protection Program as Washington DC elites cashed out on the program.
- Both the DC private schools that President Trump and former President Obama sent their children to in office received loans, St. Andrew’s Episcipol School and the Sidwell Friends School respectively.
- Tucker Carlon’s network, the Daily Caller, received up to a $1 million loan. It should be noted that Carlson sold his stake in the company on June 10.
- Christopher Ruddy, a close Trump associate, received between $2 million and $5 million for Newsmax, a conservative TV network and website.
- The deadline for the program has been extended to August 8 with $130 billion in loans to distribute.