SEC probing Kushner family’s company over wealthy investor visas
The real estate company of Mr Jared Kushner, President Donald Trump's senior adviser and son-in-law, is being investigated by the US Securities and Exchange Commission for its use of a federal programme that grants visas to wealthy foreigners investing in the US, the Wall Street Journal reported on Saturday.
Kushner Cos was asked by the SEC for information on its use of the visa programme, known as EB-5, in May last year, 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 US 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 programme.
Mr Kushner, Kushner Cos, the White House and New York prosecutors did not reply to requests for comment from Reuters. The SEC could not be reached for comment.
Kushner Cos referred the Journal to a previous statement on its use of the EB-5 programme: "Kushner Cos utilised the programme, fully complied with its rules and regulations, and did nothing improper. We are cooperating with legal requests for information."
The exact subject of the SEC inquiry, or whether it identified particular projects, is not clear, the Journal reported.
The Kushners' use of EB-5 visas to raise cash to finance developments came to broad attention in May last year.- REUTERS