SEC probing Kushner Cos use of wealthy investor visas: WSJ
(Reuters) – The real estate company of Jared Kushner, President Donald Trump’s senior adviser and son-in-law, is being investigated by the U.S. 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 an…
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