Report: SEC Investigating Kushner Cos. Over Visa Program

[DonViejo]

Source: The Daily Beast



The Securities and Exchange Commission is investigating the real estate company run by White House senior adviser Jared Kushner’s family for its use of an investment-for-visa program, the Wall Street Journal reports. Citing sources familiar with the matter, the report says the SEC subpoenaed Kushner Companies in May 2017, the same time federal prosecutors in New York began scrutinizing the company’s development projects financed partly through the EB-5 visa program. The program offers green cards to immigrants who invest $500,000 or more in certain U.S. businesses. The investigations are thought to have been prompted partly by a marketing campaign in Beijing and Shanghai in which Kushner’s sister, Nicole Meyer, urged Chinese investors to put their money into a Kushner Cos.’ New Jersey real-estate project in return for visas. The SEC investigation, which hasn’t been previously reported, is being conducted in collaboration with the Brooklyn U.S. attorney’s office, according to the report. No further details have been released on the nature of the investigation.

READ IT AT THE WALL STREET JOURNAL



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Read more: https://www.thedailybeast.com/report-sec-investigating-kushner-cos-over-visa-program?ref=home

[machoneman]

1. Gotta love just how much trouble Kushner is in now on so many fronts!

Schadenfreude is such a delicious and deserving thing right about now!

[SayItLoud]

2. tRUMP US attorney's in place

The corrupt fix is in. Watch there will be a financial settlement with no guilt admitted. Just like the money laundering fine tRUMP settled on the Atlantic City casino. White collar=fine. Pot=jail. VOTE in 2018 or more of this will come.

[Botany]

3. Kushner owes $1 billion to China on his real estate too

n/t

[BumRushDaShow]

4. The full billion mortgage on 666 5th Ave is due February 2019

https://www.bloomberg.com/graphics/2017-kushners-china-deal-flop-was-part-of-much-bigger-hunt-for-cash/

[lindysalsagal]

5. And they've already sold off lots of smaller projects....

It was 2006—the height of the real-estate market boom—when Kushner Cos. agreed to buy 666 Fifth Avenue for $1.8 billion, then a record for a Manhattan building. All of it was borrowed except for $50 million. The company still holds half of a $1.2 billion mortgage, on which it hasn’t paid a cent. The full amount is due in February 2019.

The strain has become increasingly evident across their holdings. One person familiar with the company’s finances describes the tower, with its low ceilings and outdated floor plan, as the Jenga puzzle piece that could set the empire teetering.

[BumRushDaShow]

6. And they also took out more loans on properties they still retained

that they owed on (using them as collateral).

[bucolic_frolic]

7. If there were any doubt America is for sale

that doubt has been erased. Cash, check, or credit card?

[DemoTex]

8. I wonder if Pappy Kushner's prison cell is available in Alabama ..

Might as well keep it in the family.