BUSTED: Kushner Real Estate Company Now Under Investigation
Donald Trump’s son-in-law and senior White House adviser Jared Kushner’s real estate company is now under investigation by the Securities and Exchange Commission (SEC) for its use of the federal visa program, the Wall Street Journal reported on Saturday.
According to the report, the SEC has issued a subpoena to Kushner Companies requesting information of its use of the EB-5 program back in May of 2017. The SEC has yet to release a statement on the nature of the investigation.
This is not the first time the company is investigated. Back in May of 2017 the company was subpoenaed by New York federal prosecutors who were investigating development projects financed in part by the EB-5 program.
“Kushner Cos. utilized the program, fully complied with its rules and regulations, and did nothing improper. We are cooperating with legal requests for information,” a spokeswoman for Kushner Cos. told the Journal.
According to multiple sources familiar with the matter, Kushner sister, Nicole Meyer, encouraged Chinese investors to put their money into a New Jersey real-estate development run by Kushner Cos. in return for visas, which is what prompted the investigations.
The Journal reported that Kushner’s marketing campaign claimed that up to 300 individuals who put $500,000 each into the project could be eligible for green cards.
Kushner Cos. has been subject to federal inquiry multiple times in recent months. Late last year, prosecutors requested documents pertaining to a $285 million loan the firm received from Deutsche Bank.