Kushner Companies apologizes for Journal Square project pitch to Chinese investors
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There was no visible mention of Jared Kushner’s link to Trump at the Beijing event, but promotional posters bore the slogan, “Government supports it; Celebrity property developer builds it”.
Networking, connecting, pitching – it’s all routine in the business world. It is thought that considering his isolationist and anti-immigrant rhetoric, Trump may decide to end the visa program.
Jared Kushner, whose White House portfolio includes relations with China, sold his stake in Kushner Companies to a family trust early this year.
“Jared has done everything to comply with the ethics rules to make sure and that had nothing to do with him per se, he wasn’t involved”, Spicer said. If the Trump administration sees it through, lawmakers would have an opportunity to see the effects before taking any further legislative action.
In Beijing on Saturday, potential investors in the Kushner project were told they should act quickly because the minimum investment for the EB-5 program could go up. American venture capitalists then take that money and use it to launch projects that end up creating jobs for USA workers.
Feinstein said the EB-5 program presents “a stark conflict of interest” for President Trump and Kushner, both of whom have used EB-5 funding for construction projects. Meanwhile, if you’re an American eager to get your hands on some of the untold billions sloshing around among foreign oligarchs in China, Russia, or wherever, the number of actual jobs your project ultimately generates or whether your project is legitimate in the first place may be, shall we say, secondary concerns. “Of course they’re going to want to invest”. “And it’s a very valuable thing in a lot of other countries”, he said. But one kind of former ethics lawyer under the George W. Bush administration called it highly inappropriate.
“Abuse of power pure and simple”.
During the presentation, a slide was shown identifying US President Donald Trump as being a “key decision maker” for the EB-5 program.
The Times story said Meyer did not respond when asked if she was concerned about possible conflicts of interest facing her brother.
Though the foreign investor immigration program has become a source for cheap real estate financing for projects like the Kushner family’s, questions about its fairness and national security implications have made it a political briar patch for years.
“Kushner Companies apologizes if that mention of her brother was in any way interpreted as an attempt to lure investors”, the firm said.
Donald Trump’s administration has made it harder for foreigners to get United States work visas.
While Kushner has reported divesting from elements of the family business, including the specific project that his sister pitched in Beijing, the session yesterday demonstrated that the company is perceived as enjoying close ties to the Trump administration, it said.
US Citizenship and Immigration Services, a division of DHS, said it is reviewing comments before finalizing the rulemaking process.