Celebrity Scandals

Ivanka Trump's Jewelry Line Under Investigation For Allegedly Being Involved In Money Laundering

What impact this will have on investigations into the Trump family's business dealings remains unclear.

Amidst growing concern about the Trump family's connections and associations with foreign agents, GQ has discovered a series of documents that suggest the Ivanka Trump Fine Jewelry line may have been used to launder money and is under investigation for fraud. Ivanka Trump is not personally implicated in the investigations, but the situation raises even further questions about the president's influences.

A filing described as "overlooked" by GQ reporter Ben Schreckinger provides insight as to the ongoing complaints being made against the since-shuttered, high-end accessory brand. Documents from the US District Court for the Southern District of New York reveal that the Commercial Bank of Dubai sought and received permission to subpoena Ivanka's jewelry company over claims the brand had used diamonds to hide $100 million in assets owed to the bank. 

Ivanka Trump Fine Jewelry was established by Ivanka Trump around 10 years ago with partner Moshe Lax. Lax and Trump established a flagship store on Madison Avenue in New York City before their partnership went south. Their business relationship was terminated last year, with Lax owing Ivanka an unspecified amount of money as of August. Lax has an extensive criminal background, including charges of extortion, and was described by Politico as a "career grifter."

A passage in Ivanka's memoir described Lax differently.

“My new associate was an entrepreneur through and through,” she wrote. “I admired that about him.”

Questions from reporters about the complaint against Ivanka's company have been met with no answers: A White House spokesman who often answers questions directed to or about Ivanka, Josh Raffel, did not respond to questions. Alan Garten, the general counsel of the Trump Organization, was also silent on the matter.

Lax has characterized the deals in question as insignificant: “We will fully comply in verifying and providing info the court might ask from us.”

It remains unclear what impact (if any) this current investigation will have on other ongoing inquiries into the Trump family's businesses. 

[Photo: Getty Images]

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