As reported by Time, U.S. regulators and prosecutors have asked for information belonging to the real estate development business owned and operated by Jared Kushner’s family. It' s being said that the company may have abused a program that allows wealthy foreigners to acquire visas for merely investing in American development deals.
The Securities and Exchange Commission and prosecutors for the Eastern District of New York sent subpoenas to Kushner Cos. investigating details about its use of what’s known as the EB-5 program.
Time also stated that Kushner was serving as chief executive officer of Kushner Cos. until he stepped down and gave some of his investments to family members once he came onboard to be a high ranking advisor to President Trump.
A statement was issued by Kushner Cos. spokeswoman Christine Taylor saying :
“As we said months ago, we are cooperating with all government requests for information about our past legal use of the EB5 program.”
No charges have been filed and at the moment the SEC has divulged that they are only still investigating and reviewing the company's EB-5 use.
Seems to be a running theme with Jared. Not exactly any provable wrongdoing but not squeaky clean either. Twitter is certainly following this story closely.
Need to put the greedy jew in jail and get ready of the key.🤥🤥🤥😤😤😤💩💩🐷— jose Vazquez (@Joe_V1938) January 7, 2018
Important to note that while the EB-5 program is an immigrant program, the SEC is watchdog agency because of the securities issue of these investments. The investigation is whether any SEC rules were broken. Significant in its own right.— JAMES L VANCURA (@Vancura541) January 7, 2018
Now EB-5 is a legal program employed by many corporations. It offers foreigner business developers green cards as compensation for investing $500,000 or more in particular U.S. businesses that produce a minimum of 10 jobs per investor.
As explained by Time, while Kushner Cos. isn’t publicly traded, the SEC has control of the EB-5 program because investments can be found as securities transactions under federal laws. The agency has in the past enacted enforcement actions against developers that it discovered were siphoning funds through the program and then spending the proceeds on personal use, instead of financing proposed projects.
The investigation involving Kushner Cos. is still ongoing. So better keep all in check Jared, where there is smoke there tends to be fire.