LEGAL/SEC/TRUMP FAMILY/JARED KUSHNER: “The Securities and Exchange Commission is investigating the real-estate company run by the family of President Donald Trump’s senior adviser and son-in-law Jared Kushner for its use of a federal investment-for-visa program known as EB-5, according to people familiar with the matter.
In May 2017, Kushner Cos. received a subpoena from the SEC requesting information about its use of the program, one of these people said. As The Wall Street Journal reported last year, that month the company received a separate subpoena from New York federal prosecutors asking for information about development projects financed in part by the EB-5 program.
The SEC probe, which hasn’t been previously reported, is being conducted out of the commission’s Texas office and in collaboration with federal prosecutors from the Brooklyn U.S. attorney’s office, according to another person familiar with it.
Spokesmen for the SEC and the Brooklyn U.S. attorney’s office declined to comment.
A spokeswoman for Kushner Cos. referred to a previous comment provided by the company’s general counsel, Emily Wolf, who said of the Brooklyn-based inquiry that ‘Kushner Cos. utilized the program, fully complied with its rules and regulations, and did nothing improper. We are cooperating with legal requests for information.’…
The precise nature of the SEC’s inquiry isn’t clear, nor is whether the subpoena identified particular projects.”
-Erica Orden, “SEC Looks Into Kushner Cos. Over Use of EB-5 Program for Immigrant Investors,” The Wall Street Journal online, Jan. 6, 2018 07:03am