In 1992, the federal government created the EB-5 visa program, which was designed to help stimulate economy by creating jobs and capital investments by foreign investors. Just before Christmas, President Donald Trump signed a law extending the EB-5 visa program.
Kushner Companies, the real estate company owned by the Kushner family, is being investigated by the Securities and Exchange commission (SEC), concerning their use of the EB-5 visa program. This is the company owned by the family of Jared Kushner, President Trump’s son-in-law and senior adviser. The company is fully cooperating with the investigation and continue to say that their use of the EB-5 visa program has been by the books and they have done nothing wrong.
(Wall Street Journal) – The Securities and Exchange Commission is investigating the real-estate company run by the family of President Donald Trump’s senior adviser and son-in-law Jared Kushner for its use of a federal investment-for-visa program known as EB-5, according to people familiar with the matter.
In May 2017, Kushner Cos. received a subpoena from the SEC requesting information about its use of the program, one of these people said. As The Wall Street Journal reported last year, that month the company received a separate subpoena from New York federal prosecutors asking for information about development projects financed in part by the EB-5 program.
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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…
It needs to be noted that virtually most government agencies in New York have made it known that they hate Donald Trump and would do anything possible to try to tear away at his administration and presidency and it’s likely that since this complaint came from the NY federal prosecutor’s office, that it is more of a political witch hunt to attack someone close to Trump.