Report: SEC Investigating Kushner Cos. Over Visa Program
Source: The Daily Beast
The Securities and Exchange Commission is investigating the real estate company run by White House senior adviser Jared Kushners family for its use of an investment-for-visa program, the Wall Street Journal reports. Citing sources familiar with the matter, the report says the SEC subpoenaed Kushner Companies in May 2017, the same time federal prosecutors in New York began scrutinizing the companys development projects financed partly through the EB-5 visa program. The program offers green cards to immigrants who invest $500,000 or more in certain U.S. businesses. The investigations are thought to have been prompted partly by a marketing campaign in Beijing and Shanghai in which Kushners sister, Nicole Meyer, urged Chinese investors to put their money into a Kushner Cos. New Jersey real-estate project in return for visas. The SEC investigation, which hasnt been previously reported, is being conducted in collaboration with the Brooklyn U.S. attorneys office, according to the report. No further details have been released on the nature of the investigation.
READ IT AT THE WALL STREET JOURNAL
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Read more: https://www.thedailybeast.com/report-sec-investigating-kushner-cos-over-visa-program?ref=home
machoneman
(4,006 posts)Schadenfreude is such a delicious and deserving thing right about now!
SayItLoud
(1,702 posts)The corrupt fix is in. Watch there will be a financial settlement with no guilt admitted. Just like the money laundering fine tRUMP settled on the Atlantic City casino. White collar=fine. Pot=jail. VOTE in 2018 or more of this will come.
Botany
(70,476 posts)n/t
BumRushDaShow
(128,699 posts)lindysalsagal
(20,638 posts)It was 2006the height of the real-estate market boomwhen Kushner Cos. agreed to buy 666 Fifth Avenue for $1.8 billion, then a record for a Manhattan building. All of it was borrowed except for $50 million. The company still holds half of a $1.2 billion mortgage, on which it hasnt paid a cent. The full amount is due in February 2019.
The strain has become increasingly evident across their holdings. One person familiar with the companys finances describes the tower, with its low ceilings and outdated floor plan, as the Jenga puzzle piece that could set the empire teetering.
BumRushDaShow
(128,699 posts)that they owed on (using them as collateral).
bucolic_frolic
(43,111 posts)that doubt has been erased. Cash, check, or credit card?
DemoTex
(25,391 posts)Might as well keep it in the family.