WSJ: SEC Looks Into Kushner Cos. Over Use of Wealthy Investor Visas
Erica Orden reported in the Wall Street Journal:
The Securities and Exchange Commission is investigating the real-estate company run by the family of President Donald Trump’s senior adviser and son-in-law Jared Kushner for its use of a federal investment-for-visa program known as EB-5, according to people familiar with the matter.
In May 2017, Kushner Cos. received a subpoena from the SEC requesting information about its use of the program, one of these people said. As The Wall Street Journal reported last year, that month the company received a separate subpoena from New York federal prosecutors asking for information about development projects financed in part by the EB-5 program.
The SEC probe, which hasn’t been previously reported, is being conducted out of the commission’s Texas office and in collaboration with federal prosecutors from the Brooklyn U.S. attorney’s office, according to another person familiar with it.
Spokesmen for the SEC and the Brooklyn U.S. attorney’s office declined to comment.
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