Democratic lawmakers press Kushner Companies on immigrant investor program

Three Democratic lawmakers expressed concern Thursday over Kushner Companies’ use of an immigrant investor program and the company’s alleged attempts to capitalize on the newfound power of Jared Kushner, President Donald Trump’s son-in-law and senior adviser.

“We are concerned about recent reports detailing Kushner Companies’ use of the EB-5 Regional Center program, especially in light of Jared Kushner’s role in the Trump administration and the potential for conflicts of interest,” Sen. Patrick Leahy (D-Vt.) and Reps. John Conyers (D-Mich.) and Zoe Lofgren (D-Calif.) wrote in a letter to Kushner Companies President Laurent Morali on Thursday.

The immigrant investor program sets aside EB-5 visas — which allow entrepreneurs, their spouses and children under 21 to apply for a green card — for people who invest in commercial enterprises associated with U.S. Citizenship and Immigration Services-approved regional centers.

The lawmakers warned in the letter that reports indicate that Kushner Companies and its latest EB-5 project “may be seeking to benefit from the Kushner family’s connections to the White House” and “suggest that luxury developers have aggressively lobbied Congress to prevent reforms to the EB-5 program.”

“Such lobbying appears intended to benefit luxury development projects like those built by Kushner Companies, and thus presents the appearance of a conflict of interest given Mr. Kushner’s new position in the administration,” the lawmakers continued.

The nine-page letter details Kushner’s ties to Kushner Companies and potential violations of the program’s rules and securities laws. The lawmakers asked Morali a series of questions, including “complete details” of Kushner’s holdings in the company and whether he could “merely resume identical ownership interests” if he chose to do so. They requested a response by June 16.

A spokesperson for Kushner Companies did not immediately respond to a request for comment.

Source: http://www.politico.com/story/2017/06/01/jared-kushner-companies-immigrant-investor-program-239031

Advertisements

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s