It seems Jared Kushner’s dramatic fall from grace won’t have a soft landing. With his security clearance downgraded, state regulators poring over his personal finances, and world leaders arguing over who has more sway over him, the First Son-in-Law suffered another blow on Tuesday when the White House was reported to be investigating some half a billion in loans that Kushner Cos. received after financial executives met with Boy Wonder in the White House. Per The Wall Street Journal:

White House attorneys are examining whether two loans totaling more than $500 million to Jared Kushner’s family business may have violated any criminal laws or federal ethics regulations, according to a letter from a federal ethics agency made public Monday.

The Office of Government Ethics told a Democratic lawmaker in the letter that the White House is probing whether a $184 million loan from the real-estate arm of Apollo Global Management LLC and a $325 million loan from Citigroup Inc. may have run afoul of the rules and laws governing the conduct of federal employees.

In a letter to Representative Raja Krishnamoorthi, David Apol, acting director of the O.G.E., wrote: “I have discussed this matter with the White House Counsel’s Office in order to ensure that they have begun the process of ascertaining the facts necessary to determine whether any law or regulation has been violated. During that discussion, the White House informed me that they had already begun this process.”

While the White House did not immediately respond to a request for comment, Kushner’s personal lawyer, Abbe Lowell, was full of them, telling the Journal that after The New York Times’ initial report on the loans, “the White House counsel concluded there were no issues involving Jared.” He added that the Boy Prince of New Jersey “was not involved with his former company after he entered government service; the transactions in question came after that; he had nothing to do with those transactions; the transactions had nothing to do with any of his meetings in the White House, and the people from the companies involved have confirmed that as well.” (Though Kushner stepped down from his position as C.E.O. of Kushner Cos. upon entering the White House, and sold his personal stakes in some projects, he retained stakes in multiple Kushner Cos. properties—including, shockingly, the ones that received loans from Citigroup and Apollo.)

In response to a letter from Senator Elizabeth Warren, Citigroup said last week that its $325 million loan to Kushner Cos. was “completely appropriate.” Apollo, responding to a letter from members of Congress earlier this month, said that the meetings between its C.E.O. and Kushner were not related to its $184 million loan, and that the loan “was negotiated on behalf of A.R.I. by an Apollo investment professional with a history of doing business with Kushner Companies that predated his tenure at Apollo.”

As the negative stories continue to pile up—last month, there was that small matter of at least four other nations reportedly discussing how best to leverage Kushner’s massive debts and political novice, and last week, a report emerged detailing the sketchy slumlord tactics his family’s company allegedly engaged in while he was C.E.O.—even the world’s biggest joke of a president has become disenchanted, apparently complaining to allies that his son-in-law has become a liability. “He is very weakened,” a Mexican official said on the eve of Kushner’s most recent diplomatic visit. “And he’s going to get weaker.”