Jared Kushner's sister makes $150M pitch to Chinese investors
Jared Kushner's sister makes $150M pitch to Chinese investors
08 May, 2017, 06:22
Jared Kushner, 36, senior adviser and son-in-law of US President Donald Trump, has far-reaching influence over domestic and foreign policy. The event was hosted by Qiaowai, a Chinese company that connects USA companies with investors there.
The potential investors were advised to invest sooner rather than later in case visa rules change under the Trump administration."Invest early, and you will invest under the old rules", one speaker said. No doubt the word has gone out to rich, tapped-in Chinese investors looking to plant some roots in the United States too. Jared Kushner has another sister, Dara, who generally shuns the spotlight.
Nicole Kushner Meyer also told the crowd how her grandfather immigrated to the United States and built a business from the ground up.
Watchdogs and ethics experts yesterday criticised the Beijing event as an attempt to cash in on Kushner's newfound proximity to power, it said. "They clearly imply that the Kushners are going to make sure you get your visa".
A Qiaowai sales staff member at the Shanghai event said it could take five years for applicants to be granted a visa under the scheme.
Kushner, who is married to Trump's daughter, Ivanka, has become a central voice on China, serving as a conduit between Beijing and Washington. They are called "fuerdai."...
The pitch seeks to raise funds from Chinese investors through the US government's EB-5 visa program, which allows permanent USA residency for those who finance projects that create a certain amount of jobs.
Both the Trump Organization and Kushner's family business have used the controversial visa program to attract investors before but now the president has vowed to tighten the border-and that is being used as a selling point.
Meyer said the project "means a lot to me and my entire family", mentioning specifically that her brother formerly headed the family business and left to serve in the Trump Administration.
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Kushner's lawyer claims that Kushner has personally divested from the One Journal Square project, although of course his family has not.
The EB-5 program was created in 1990 to help stimulate the United States economy through job creation and capital investment from foreign nationals, but detractors say it puts citizenship up for sale.
"As previously stated, he will recuse from particular matters concerning the EB-5 visa program", Roberts said in a statement.
Kushner's government ethics-disclosure form shows he was a manager at or president of six entities associated with the Jersey City project until January. Promotional materials tout the buildings' proximity to Manhattan and note that the project will create more than 6,000 jobs.
A Kushner family pitch for Chinese investors to help finance the planned One Journal Square towers is once again putting a spotlight on potential conflicts of interest for the first family, according to reports by the Washington Post and New York Times.
Kushner's mother and siblings are beneficiaries of that family trust, a White House official confirmed.
Kushner still holds some of his stakes in Kushner Companies even after accepting a White House role that has him involved in foreign affairs.
The housing complex, known as "One Journal Square", will include recreational facilities, child playrooms and a pet hospital, according to the QWOS website.
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An administration official claimed that the "lion's share" of the visas are presently used for "entry-level positions". The U.S. workers are sometimes asked to train their replacements to qualify for severance packages.
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