Chinese investor visas deserve extreme vetting

Nick Sanchez
May 17, 2017

Organizers barred journalists on Sunday from a publicly advertised event in Shanghai that offered Chinese investors the chance to get US immigrant visas if they put money in a real estate project linked to the family of President Donald Trump's son-in-law.

The investment offered US residency through the US EB-5 visa in exchange.

To sweeten the deal, they advertised the EB-5 investor immigrant visa program, which allows foreign investors to apply to immigrate to the United States if they invest substantial amounts of money in projects that create jobs domestically.

Kushner Companies however, in an email to the Post Sunday, said it "apologizes if that mention of her brother was in any way interpreted as an attempt to lure investors".

Subsequently a USA -based publicist for the Kushner Companies sent an email to the Post saying that it "apologizes if that mention of her brother was in any way interpreted as an attempt to lure investors".

"In 2008, my brother Jared Kushner joined the family company as CEO, and recently moved to Washington to join the administration", Kushner Meyer said at the Kushner Companies conference, according to media reports.

Bi Ting, a 34-year-old woman who attended the Shanghai event, said having the name of the us president's son-in-law associated with it was "a bonus for the project". The program, which is popular among wealthy Chinese people, has been nicknamed the "golden visa".

KEITH: That was Grassley at a hearing a year ago voicing frustration after Congress used a government funding bill to reauthorize the program without making any changes.

Zhang said that she was surrounded and grabbed by the shoulder and forced to leave - but not before her phone was confiscated.

One brochure promoting the apartment towers said, "Invest $500,000 and immigrate to the United States".

Another speaker at the Beijing conference told the audience to invest soon, in case the Trump administration changes rules for visas, according to the Washington Post.

The program allows investors qualify for US citizenship when they invest in the United States.

Both the New York Times and the Washington Post reported this morning that Meyer participated in EB-5 sales meetings in Beijing on Saturday and in Shanghai on Sunday.

Meyer is a sister of White House senior adviser Jared Kushner, and a principal with Kushner Companies.

During the presentation, a slide was shown identifying US President Donald Trump as being a "key decision maker" for the EB-5 program.

This program is known as EB-5 for the name of the employment-based fifth preference visa that participants receive. Over 80 percent of EB-5 visas are believed to have been issued to Chinese investors.

Ethics filings corroborate that Kushner divested from the One Journal Square project, although he and his wife, Ivanka Trump, still benefit from investments in other Kushner Companies projects. "The event generated a lot of interest on the Chinese side precisely because of the connection to Trump".

The EB-5 programme was created in 1990 to help stimulate the U.S. economy through job creation and capital investment from foreign nationals, but detractors say it puts citizenship up for sale.

Jared Kushner headed his family's company before going to work for his father-in-law and putting his shares in a trust. Sadly, it's just the latest example of the financial conflicts that pervade this White House, which seems unwilling to stop using influence for personal gain.

Critics say numerous investments purportedly aimed at assisting poor areas of the USA have instead wound up going to projects in more affluent neighborhoods, while many programs have been badly hit by fraud scandals.

Other reports by AllAboutTopnews

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