The real state company of White House Adviser Jared Kushner filed multiple false documents with the New York City housing authorities, in a scheme that allowed them to reap millions in profits on properties they flipped, The Associated Press reported Sunday.
In their exclusive report, the AP states that the Kushner’s companies bought “three apartment buildings in a gentrifying neighborhood of Queens in 2015,” and that “most of the tenants were protected by special rules that prevent developers from pushing them out, raising rents.”
However, according to the report, all three buildings were sold two years later for $60 million — nearly 50 percent more than the purchase price.
“The Kushner Cos. routinely filed false paperwork with the city declaring it had zero rent-regulated tenants in dozens of buildings it owned across the city when, in fact, it had hundreds,” the report states.
“It’s bare-faced greed,” explained Aaron Carr, Housing Rights Initiative founder, who compiled the documents and handed them over to AP. “The fact that the company was falsifying all these applications with the government shows a sordid attempt to avert accountability and get a rapid return on its investment.”
In their defense, the Kushner family said that the documents were prepared by a third party and were reviewed by attorneys.
“If mistakes or violations are identified, corrective action is taken immediately,” the company said in a statement.
You can read the entire report here.
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