The Kushner Companies, formerly led by White House adviser Jared Kushner, is being investigated by the Securities and Exchange Commission over its use of the EB-5 visa program. The program offers permanent U.S. resident status in exchange for large investments in the U.S. and the Kushner Companies have tried to leverage the program to generate investments in its real estate projects.
According to the Wall Street Journal, the investigation is being conducted by SEC officers in Texas, in collaboration with Department of Justice officials in New York. There are no further details about the nature of the investigation. In a statement, the Kushner Companies said they had used the program properly and were cooperating with requests for information.
The Kushner Companies had previously received a subpoena from federal prosecutors over EB-5 investments in at least one specific project, One Journal Square in Jersey City, New Jersey. The Kushner Companies drew scrutiny last May over a push to attract wealthy Chinese investors to that project by touting EB-5 visa opportunities.
http://fortune.com/2018/01/07/sec-investigating-kushner-companies-eb5-visa/
According to the Wall Street Journal, the investigation is being conducted by SEC officers in Texas, in collaboration with Department of Justice officials in New York. There are no further details about the nature of the investigation. In a statement, the Kushner Companies said they had used the program properly and were cooperating with requests for information.
The Kushner Companies had previously received a subpoena from federal prosecutors over EB-5 investments in at least one specific project, One Journal Square in Jersey City, New Jersey. The Kushner Companies drew scrutiny last May over a push to attract wealthy Chinese investors to that project by touting EB-5 visa opportunities.
http://fortune.com/2018/01/07/sec-investigating-kushner-companies-eb5-visa/
