Relatives of United States president's son-in- law Jared Kushner are touring major mainland cities to woo wealthy Chinese investors for luxury projects in New Jersey while offering an American green card in return, according to a media report.
Revelations that the sister of Jared Kushner, President Donald Trump's son-in-law and adviser, promoted a program offering a path to USA citizenship to Chinese backers in a Kushner family project bring new scrutiny to a foreign investor visa program.
The EB-5 visa program encourages wealthy foreign nationals to make substantial investments in US -based business ventures in exchange for a Green Card and a investor visa. Chuck Grassley, R-Iowa, and Diane Feinstein, D-Calif., to impose further oversight and restrictions on the visas, but such efforts have not overcome substantial lobbying by developers and real estate interests.
That's according to reporters from The Washington Post and The New York Times, who were attending the publicly advertised event at the Ritz-Carlton Hotel in Beijing on Saturday before press was removed from the room.
Kushner's sister, Nicole Kushner Meyer, told dozens of potential investors in Beijing that they should invest in a skyscrapers now being built in New Jersey, the Guardian reported.
Over the weekend, the Kushner Companies invited wealthy foreigners to sink cash into a New Jersey real estate project via the EB-5 program. His attorney, Blake Roberts, said Kushner is not involved in the operation of Kushner Companies.
Ms Meyer brought up her brother as the company's former chief executive before he left in January to join the Trump administration.
The project is being developed by KABR Group and the Kushner Companies.
The EB-5 program has been extended with little change for years, often through omnibus spending bills or continuing resolutions.
On Friday, President Donald Trump extended the controversial EB-5 program that allows visas to be fast-tracked in exchange for investment in US properties. The sister of White House senior adviser Jared Kushner urged wealthy Chinese on May 7 to buy stakes in real estate through a controversial programme that offers United States residency in exchange for investment.
Before taking on his role in the White House, Jared Kushner sold his stake in Kushner Companies to a family trust.
But Larry Noble, general counsel for the Campaign Legal Center, says, "The strong feeling is that they - the Trump family, the Kushner family - see the White House and being in the government as a marketing opportunity". (Answer: They can't.) The only way to stop the conflict might be to stop the EB-5 program altogether, as Sen.
Meanwhile, the Democrats criticized Meyer's sales presentation about the EB-5 investor visa program.
"Invest early, and you will invest under the old rules", one speaker said, according to the Washington Post, which first reported about the event, referring to the possibility that the Trump administration might alter the rules of the EB-5 program and make it more hard to acquire the visa. "Of course they're going to want to invest". The reforms included efforts to revive that the program's original intent of providing investment in rural and distressed urban areas.
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