Kushner Cos. is said to get subpoenas over visa program use
Source: Crain's New York Business
U.S. regulators and prosecutors have requested information from the real estate development business run by Jared Kushner’s family over a program that allows wealthy foreigners to obtain visas for investing in American projects, said two people with direct knowledge of the matter.
The Securities and Exchange Commission and prosecutors for New York’s Eastern District issued subpoenas to Kushner Cos. in May seeking details about its use of what’s known as the EB-5 program, according to the people, who asked not to be named because the requests weren’t public.
Jared Kushner is a senior adviser to President Donald Trump and is married to Trump’s daughter Ivanka, who’s also an assistant to the president. Kushner was chief executive of Kushner Cos. until he stepped down and divested some of his investments to family members when he joined the administration.
Christine Taylor, a Kushner Cos. spokeswoman, said in an emailed response that “as we said months ago, we are cooperating with all government requests for information about our past legal use of the EB-5 program.” SEC spokeswoman Judith Burns didn’t immediately return an email seeking comment. John Marzulli, a spokesman for the Eastern District of New York, declined to comment.
Read more: http://www.crainsnewyork.com/article/20180108/REAL_ESTATE/180109937/kushner-cos-is-said-to-get-subpoenas-over-visa-program-use
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