The Kushner Family's Company Is Being Investigated Over Use of a Controversial Visa Program
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The Kushner Family's Company Is Being Investigated Over Use of a Controversial Visa Program
http://time.com/5091569/jared-kushner-visa-program/
By Matt Robinson and Greg Farrell / Bloomberg January 7, 2018
U.S. regulators and prosecutors have requested information from the real estate development business run by Jared Kushners family over a program that allows wealthy foreigners to obtain visas for investing in American projects, said two people with direct knowledge of the matter.
The Securities and Exchange Commission and prosecutors for New Yorks Eastern District issued subpoenas to Kushner Cos. in May seeking details about its use of whats known as the EB-5 program, according to the people, who asked not to be named because the requests werent public.
Jared Kushner is a senior adviser to President Donald Trump and is married to Trumps daughter Ivanka, whos also an assistant to the president. Kushner was chief executive officer of Kushner Cos. until he stepped down and divested some of his investments to family members when he joined the administration.
Christine Taylor, a Kushner Cos. spokeswoman, said in an emailed response that as we said months ago, we are cooperating with all government requests for information about our past legal use of the EB5 program. SEC spokeswoman Judith Burns didnt immediately return an email seeking comment. John Marzulli, a spokesman for the Eastern District of New York, declined to comment.
It couldnt be determined what the SEC is reviewing, and the agency hasnt accused Kushner Cos. of any wrongdoing. The SEC subpoena was reported earlier Saturday by the Wall Street Journal, which also published a story in August on the subpoena issued by New Yorks Eastern District.
EB-5 Program
Last year, Kushners sister, Nicole Meyer, touted her brothers White House role as she urged Chinese investors to fund a New Jersey housing development through the EB-5 program.....................................