No China investor meetings this weekend for Kushner firm
- Author: Leroy Wright May 12, 2017,
May 12, 2017, 14:53
The White House has said that Kushner, who ran the family company before his father-in-law became president, has divested himself from Kushner Companies and is not involved in his sister's presentations in China.
She emphasized that if they put in half a million dollars they could a receive EB-5 investor visa, or golden visa, which allows wealthy foreigners easier access to residency in the U.S. Promotional materials for the event played up the company's proximity to the White House and encouraged attendees to "invest under the old rules", an apparent nod to the Trump administration's plans to overhaul the program.
Senator Chuck Grassley, an Iowa Republican, criticized Meyer in a Thursday letter to the Department of Homeland Security.
One Journal Square, the project for which Kushner Cos.is seeking investment, has faced political opposition in its host city, where it wants public financing.
The real estate firm Kushner Companies apologized this week for a sales pitch it made to Chinese investors involving EB-5 visas.
Roberts also said Kushner sold his interests in the Journal Square project to a family trust.
Trump recently extended the EB-5 program without making changes that had been recommended by the Obama administration and supported by congressional leaders.
Here & Now's Robin Young talks with Hiroshi Motomura, a professor of immigration and citizenship at UCLA School of Law and author the book "Immigration Outside the Law", about the EB-5 visa and other major visa programs. The proposed changes would address long-standing criticism of the program and potentially hamper the Kushner family's fundraising efforts for their New Jersey project. Other Kushner properties are also featured on the website as examples of "iconic" projects.
The White House and Jared Kushner did not immediately respond to requests for comment.
Nicole Kushner Meyer, who had been representing her family's company in China, came under fire for what critics say was an attempt to attract investors using the family's ties to White House.
Nicole Kushner Meyer and other executives will not attend investor presentations in Shenzhen and Guangzhou, a spokesman for Kushner Companies told CNNMoney on May 11th, 2017. By Thursday afternoon, however, her name had been removed from the lineup of scheduled speakers.
Last Saturday, reporters watched as Meyer told an audience of about 100 wealthy Chinese investors inside a Beijing ballroom about the benefits of the controversial EB-5 visa program, which grants big foreign investors United States visas and a path to residence for the cost of just a half-million dollars. It has been a boon to developers.