Kushner Family Promising U.S. Visas To Chinese Investors
“Invest $500,000 and immigrate to the United States,” the Kushner brochure promises.
The Kushner family is offering U.S. visas to rich Chinese investors in exchange for a minimum of $500,000 investment in a real estate development in New Jersey. The story was first reported by the Washinton Post which said that Nicole Kusner, Jared Kushner’s sister held an exclusive offering at a fancy Ritz-Carlton ballroom in Beijing.
According to the report, the Kushner family business is encouraging wealthy Chinese citizens to “invest $500,000 and immigrate to the United States.”The EB-5 immigrant investor visa program, which allows foreign investors to invest in U.S. projects that create jobs and then apply to immigrate, has been used by both the Trump and Kushner family businesses,” the Washington Post report noted.
The program is popular with wealthy Chinese citizens but has come under fire both in the Untied States and in China for being a vehicle for illegally moving money out of China. “Invest early, and you will invest under the old rules,” one speaker said during the Kushner seminar.
According to ThinkProgress, the EB-B program has been a magnet for fraud. “The program, so coveted it’s been nicknamed the “golden visa,” has come under criticism for its lack of oversight. In 2015, the Government Accountability Office found that the U.S. Citizenship and Immigration Service did not have sufficient controls in place to identify potential fraud in the EB-5 program or to asses its economic impact.”
Donald Trump has been notably soft on China since becoming president which raises new questions about the conflicts of interest that Kushner and Trump have by maintaining their businesses.
Promotional materials for the event marketed the Kushner family’s “celebrity” status.
