Kushner Kin’s China Sales Pitch ‘Corruption, Pure and Simple’
Kushner had been running the family business until he went to the White House in January as a senior adviser to the president. He’s maintained a significant ownership interest in the company, and portions he has sold are now owned by a trust controlled by his family, raising concerns that the sale is merely a paper transaction. It said that the One Journal Square project will provide $180 million in tax revenue and 4,000 construction jobs.
The visa allows principal investors and their immediate family members to live and work legally in the U.S.in exchange for a minimum investment of $500,000 in a commercial enterprise that creates at least 10 permanent full-time jobs.
China’s growing middle class is attracted by the prospect of better opportunities for their children and what they perceive as a safer place to funnel some of their money, according to industry experts. “As previously stated, he will recuse from particular matters concerning the EB-5 visa program”, Roberts said. “Their main reason for wanting to immigrate is. for their kids’ education”.
“In 2008, my brother Jared Kushner joined the family company as CEO, and recently moved to Washington to join the administration”, she said Saturday at the Beijing conference meant to raise funds for a Kushner Families development in Jersey City.
Before Kushner joined the Trump administration as a senior adviser, the news agency added, his family firm raised some $50 million through the EB-5 program for a Trump-branded luxury apartment building in New Jersey. “Mr. Kushner has no involvement in the operation of Kushner Companies and divested his interests in the One Journal Square project”, he said in a statement.
President Trump has made visa reform a central piece of its promised changes to immigration policy.
“It’s the usual reasons: education, political uncertainty, pollution, quality of life issues, and how much bang can you get for your buck”, said Eugene Chow, an immigration lawyer at Chow King & Associates in Hong Kong.
The EB-5 visa is, in theory, a win-win for everyone.
The senators wrote that the businessorganizations “may have recently agreed to a secretive backroom “deal” that undercuts the many good faith efforts we have made during the past two years”. The investment is a bribe, essentially, which entitles you to fast-track entry into the US without the usual proof of education or work qualifications and even in some cases without basic law-enforcement checks. To a nationalist, though, the idea of auctioning off American green cards in an era when immigration is already supposedly too high must grate, especially when it’s for the benefit of the foreign elite, like Chinese oligarchs.
That may be the case for the super rich.
They could fast-track the process by buying into the 1,476-unit complex in Jersey City, scheduled to break ground early next year, she said.
US officials have raised concerns about the vetting of investors, too.
The sales pitch put a spotlight on what has always been a controversial program.
Something like 90 percent of those putting up half a million dollars for a set of green cards through the EB-5 program are from China. (Other countries, including Australia and New Zealand, have similar programs.) Critics contend it’s also plagued by fraud and used for money laundering.