SEC probing Kushner Cos use of wealthy investor visas

By REUTERS
January 6, 2018 23:25
1 minute read.
Breaking news

Breaking news. (photo credit: JPOST STAFF)

 
X

Dear Reader,
As you can imagine, more people are reading The Jerusalem Post than ever before. Nevertheless, traditional business models are no longer sustainable and high-quality publications, like ours, are being forced to look for new ways to keep going. Unlike many other news organizations, we have not put up a paywall. We want to keep our journalism open and accessible and be able to keep providing you with news and analyses from the frontlines of Israel, the Middle East and the Jewish World.

As one of our loyal readers, we ask you to be our partner.

For $5 a month you will receive access to the following:

  • A user experience almost completely free of ads
  • Access to our Premium Section
  • Content from the award-winning Jerusalem Report and our monthly magazine to learn Hebrew - Ivrit
  • A brand new ePaper featuring the daily newspaper as it appears in print in Israel

Help us grow and continue telling Israel’s story to the world.

Thank you,

Ronit Hasin-Hochman, CEO, Jerusalem Post Group
Yaakov Katz, Editor-in-Chief

UPGRADE YOUR JPOST EXPERIENCE FOR 5$ PER MONTH Show me later Don't show it again

The real estate company of Jared Kushner, President Donald Trump's senior adviser and son-in-law, is being investigated by the US Securities and Exchange Commission for its use of a federal program that grants visas to wealthy foreigners investing in the United States, the Wall Street Journal reported on Saturday.

Kushner Cos was asked by the SEC for information on its use of the visa program, known as EB-5, in May 2017, according to a person the Journal said was familiar with the matter.

The EB-5 visa is a method for eligible immigrants to become lawful permanent residents, or "green card" holders, by investing at least $500,000 into a business in the United States that will employ 10 or more American workers. Most holders are wealthy Chinese individuals.

The Journal said the company also received a separate request from New York federal prosecutors in the same month for information on development projects financed in part by the EB-5 program.

Kushner, the White House and New York prosecutors did not reply to requests for comment from Reuters. The SEC could not be reached for comment.

"As we said months ago, we are cooperating with all government requests for information about our past legal use of the EB-5 program," a Kushner Cos representative said in a statement to Reuters.

The exact subject of the SEC’s inquiry, or whether it identified particular projects, is not clear, the Journal reported.

Related Content

Breaking news
August 18, 2018
U.N. chief suggests options for improved Palestinian protection

By REUTERS