The SEC has launched an investigation into the real-estate company run by White House senior adviser (and Trump's son-in-law) Jared Kushner for its use of the "green cards for money" Federal visa program, according to the WSJ. Specifically, the SEC is probing Kushner Companies over its use of the investment-for-visa EB-5 program, which provides green cards to immigrants who invest at least $500,000 in U.S. businesses.
While the WSJ explains that "the precise nature of the SEC’s inquiry isn’t clear, nor is whether the subpoena identified particular projects" it notes that in May 2017, Kushner Cos. received a subpoena from the Securities and Exchange Commission requesting information about its use of the program. That month the company also received a separate subpoena from New York federal prosecutors asking for information about development projects financed in part by the EB-5 program. Kushner had been running the real estate business until last year, but resigned from the company to join the White House staff.
The SEC probe, which hasn’t been previously reported, is being conducted out of the commission’s Texas office and in collaboration with federal prosecutors from the Brooklyn U.S. attorney’s office, according to another person familiar with it.
By way of background, the EB-5 program offers green cards to aspiring immigrants who invest at least $500,000 in certain U.S. businesses that have been determined to create at least 10 jobs per investor. A green card permits a foreign national to live and work in the U.S. The majority of EB-5 visas go to wealthy Chinese individuals, according to DHS data.
The federal and SEC subpoenas came shortly after the company drew attention for a marketing campaign in Beijing and Shanghai that solicited Chinese investors for One Journal Square, saying that as many as 300 individuals who invested $500,000 each into the project could be eligible for green cards under the EB-5 program, the Journal reported.
The Kushner Companies has had a controversial history with Chinese investors, following reports that the company's prize real estate jewel, the flagship skyscraper at 666 Fifth Avenue, was in financial dire straits and was scrambling to finalize an investment for redevelopment from troubled Chinese conglomerate Anbang.
The federal subpoena, which included a request for email correspondence, concerned at least one specific project: a Jersey City, N.J., development of twin, 66-floor commercial-and-residential towers called One Journal Square, the Journal reported.
But why is the SEC involved in a non-public company matter?
Well, although Kushner Cos. isn’t a publicly traded company, EB-5 investments are considered securities offerings, and the SEC has previously examined other companies in relation to the EB-5 program.
In April, the SEC reached a settlement with an Idaho man it accused of misappropriating some of the $140 million he raised through EB-5 offerings to acquire and develop luxury real estate. Instead, the defendant spent some of the funds on personal expenses and other operations unrelated to the advertised project, the SEC said.
The news of the SEC probe is only the latest in a series of federal inquiries that have emerged in recent months concerning Kushner Companies. In mid-November, federal prosecutors requested documents from the company pertaining to a $285 million loan the firm received from Deutsche Bank AG , the Journal reported last month.
A spokeswoman for Kushner Cos. referred to a previous comment provided by the company’s general counsel, Emily Wolf, who said of the Brooklyn-based inquiry that “Kushner Cos. utilized the program, fully complied with its rules and regulations, and did nothing improper. We are cooperating with legal requests for information.”
Comments
Trump should demand Ivanka get a divorce, or better yet an annulment, or better yet an off with his head official decree
Holy Jucifer -- a whole lot of 6's in their business decisions
Kushner comes across as an ass-licking sycophant
In reply to Trump should demand Ivanka… by YUNOSELL
worth multiple BILLIONS...poor guy
In reply to Holy sheet! There's a whole… by YUNOSELL
The immigration to and from every country in the world:
http://thesoundingline.com/map-day-worlds-immigration/
In reply to worth multiple BILLIONS… by venturen
If a nuclear accident happened in DC and we eliminated ALL these swamp creatures, both sides, in the end we would be better off.Sure it sounds callus and evil, BUT how is this different than us going into multiple countries and upsetting the apple cart.
In reply to The immigration to and from… by Four Star
Ju. Nuff said.
In reply to If a nuclear accident… by remain calm
Congratulations ZH'ers!!!
Most of you are a quick study in exploitation of weakness.
For those of you here who are either a fill-in-the-blank-tard or maybe just a fair player, the weakness of the update is the formatting of the comments section.
So, in order to play fair, here's the secret sauce:
IN ORDER TO RECEIVE PRIORITY POSITIONING WITH YOUR POST, REPLY TO THE POST CLOSEST TO THE 1ST POST WHICH HAS THE FEWEST REPLIES.
In reply to Ju. Nuff said. by limpinalien69
SEE....LIKE THIS.
In reply to Congratulations ZH'ers!!!… by whatswhat1@yahoo.com
THIS
In reply to SEE....LIKE THIS. by whatswhat1@yahoo.com
AND FINALLY, THIS
In reply to THIS by whatswhat1@yahoo.com
Fast way to screw up someone's Knock Knock joke...? "It's open."
In reply to AND FINALLY, THIS by whatswhat1@yahoo.com
Theres not many heads that would look better on a spike than Kushner
In reply to Fast way to screw up someone… by whatswhat1@yahoo.com
+1000 FOR BEING AN EARLY ADOPTER
on topic: what-me-worry...noise
I'm here to fart around and try to have a good time doing it.
In reply to Theres not many heads would… by overbet
FYI the posting system has always been this way. Any idea how to get all the comments on a single screen?
In reply to +1000 FOR BEING AN EARLY… by whatswhat1@yahoo.com
That's not my recollection. What I remember is replies were posted by time stamp and one could trace back on the thread by clicking on the greyed-out poster who was the source for the reply.
In answer to your question, yes, comments could be on a single screen. My vision is one line with arrow-up/down numbers, commenters name and the name of who they are replying to, date, time. Click on the post and you get hyperlinked to the full body of the post.
In reply to FYI the posting system has… by overbet
Or....if the EB-5 program is so susceptible to corruption, maybe the asshats in the .gov should consider shutting it down!
In reply to The immigration to and from… by Four Star
It is Kushner's soul purpose to use any means necessary to take anything of value into his possession. These people, are not another race as they claim (kushner is clearly pastey white), but are a different culture having greed and lust replacing the usual morality and compassion. Unfortunately, these people cannot be fixed and are irredeemable.
In reply to worth multiple BILLIONS… by venturen
666 Fifth Avenue. Who buys a place like that and then runs around the world trying to leverage his Trumpness to get foreigners to pay off his debts. He was trying to get the UAE sheiks to bail him out.
Sleazy, slimy carpet bagger on the Trump train.
In reply to Kushner was brought up as as… by SamAdams
There are rumors that the condition from Ivanka Yael and Damien Kushner to move to Washington was to allow her to be a presidential candidate.
If this is true ,it means that we failed to have the first woman president(as she was too much: too crooked,treasonous,criminal,etc) ,but we may be "allowed" to have YAEL,the first attractive Bimbo as a woman president,with boobs for brains.And the bonus of being already converted to the "true" religion.
In reply to 666 Fifth Avenue. Who buys a… by Conscious Reviver
...carpet bagger...
Yep, I like the term carpetbaggage. Unfortunately, there wasn't a choice in the top half dozen candidates that wasn't up to their neck with the scourge. Being "really smart" or even "genius" is very far cry from "wisdom".
Power and wealth are easily co-opted when one's humility is stunted. All that's missing from our POTUS is the furious tweet exclaiming how humble he is. Looks like a modern day Sennacherib to me. 916M in 365 days?
jmo.
In reply to 666 Fifth Avenue. Who buys a… by Conscious Reviver
Hardly, that dude is so far in debt, he bought NYC commercial real estate at the top of the bubble in 2006 Bwaaaaah.
In reply to worth multiple BILLIONS… by venturen
worth multiple BILLIONS...poor guy
In reply to Holy sheet! There's a whole… by YUNOSELL
And 150 years from now we'll all be on equal physical footing with the guy.
"On a long enough timeline the survival rate for everyone drops to zero".
In reply to worth multiple BILLIONS… by venturen
He strikes me as something closer to a serpent. But that would be unfair to serpents.
In reply to Holy sheet! There's a whole… by YUNOSELL
The fuck needs to be taken out and slapped silly
Then punched out...several times........
Then slapped some more..then pissed on...
Ivanka could have had much better ..she chose wrong.
In reply to Holy sheet! There's a whole… by YUNOSELL
birds of a feather flock together?
did ya ever see a robin trying to,... 'getting it on' with a sparrow in a tree top?
In reply to The fuck needs to be taken… by BabaLooey
Too late. She has already spawned with him.
In reply to Trump should demand Ivanka… by YUNOSELL
Agreed.
...and those bogus visas should be cancelled asap.
sellling visas and passport is tantamount to treason.
In reply to Trump should demand Ivanka… by YUNOSELL
With rabid anti-Semites like you running around, it's easy to understand how millions of Jews were slaughtered in the Holocaust, in the Crusades and just day to day pogroms incited by the Christian priests. I'm not sure what stands out more about people like you: your ignorance or your primitive hatred.
In reply to Trump should demand Ivanka… by YUNOSELL
Hahaha, that's a good one! Holocaust(hoax) gets me every time.
In reply to With rabid anti-Semites like… by Street Smart
Why are holocaust memorials set up at the camps where the killing was done, why not at the burial site where the remains are interned? If I had a relative due in a hospital, I certainly wouldn't place a memorial there, Id do it at the grave site.
In reply to With rabid anti-Semites like… by Street Smart
The SEC has time to do this rinky dink stuff, because all the fucking banksters
that looted the treasury, Paulson, Blankfein, et.al., are already prosecuted and in jail, and they've seen all the porn on the internet.
In reply to Trump should demand Ivanka… by YUNOSELL
Get in line after FBI for using immigrant program.
In reply to Trump should demand Ivanka… by YUNOSELL
Here is an interesting look at some of the emails found on Anthony Weiner's laptop:
https://viableopposition.blogspot.ca/2018/01/the-anthony-weiner-connect…
Washington certainly appears to be dirty from the top down.
In a folder called life insurance..
In reply to Here is an interesting look… by NickyGall
Good and when the Clinton Foundation is finally exposed and people go to jail I’m sure it will be greeted with same enthusiasm from media
I won't be holding my breath but also look forward when they expose the kenyan homosexual, his transgender wife, and the adopted monkeys.
In reply to Good and when the Clinton… by MuffDiver69
Just more proof on the "back room" deals that were solidified after 9/11 through the Patriot Act(s) and NDAA to shed the "skins" of 95 million Americans in the workforce, replacing them with fresh undocumented labour to destinations and terrorist production facilities "unknown" (inside and outside) CONUS going on 17 years... Rest assured the IRS knows each and every one of them personally just like they know YOU!
To those Americans still paying the taxes for it... You should be MORE THAN "PISSED"!
Jared Kushner on behalf of his real boss POTUS Bi Bi... "MAGA"!!!
P.S.
Babs Spectre said that you "will" love multiculturalism... Just ask Western Europe how much they are lovin it after they signed up to the "raping" of the Middle East after 3 buildings 2 planes (https://www.youtube.com/watch?v=MFE0qAiofMQ)?...
that is funny...the liberal program used against the uber liberal....have at it SEC....he can join his dad in jail...or did he get out.
This lousy bum Kushner should have invested in Stellar XLM crypto and made money the old fashioned way, by earning it!
The swamp appears to be replete with Obama hold-overs. Clinton Crime family is a target rich environment, but where does the SEC go?
But the photo of Kushner in his flak vest was so fetching.....
Imagine that, a satan loving jew allowing Communists to infiltrate the country. Never seen that before...
Wait once Mueller has him in a holding cell, threatening him with a 20 year term. This little entitled millennial will melt as quickly as an icecube in hell.
That's what Bannon said also. Let's see what cards the kushy thing has up his sleeve. He's surrounded by fancy lawyers. He got that base covered.
In reply to Wait once Mueller has him in… by ludwigvmises
"Let's see what cards the kushy thing has up his sleeve. "
Why; the grand prize of course. It carries enough weight to get both himself and his father exonerated.
In reply to That's what Bannon said also… by Vageling
kushner ass, so delectable to demitry...
In reply to Wait once Mueller has him in… by ludwigvmises
Kushner selling US citizenship, cheap. And it's legal.
Correct me if I am wrong, but I really don't think he is the only one doing this. Anyone care to guess how many other companies are doing exactly the same thing?
Usual disclaimer: Yes, I truly don't know. That's why I am asking. If you can provide links, names and addresses then so much the better.
In reply to Kushner selling US… by Xena fobe
And Jared wasn't involved in that scheme because it started after he began working in the WH. He may own stock in the company that did this but he isn't participating in any of its activities. This one happens to be legal though apparently his sister when in China did improperly reference Jared's name and job.
And I'm not a fan of Jared's at all but think this needs to put in context.
In reply to Kushner selling US… by Xena fobe
Pagination