Reuters previously revealed that
After Reuters contacted
It is a fundamental rule of the EB-5 program that an
Kushner Companies and the SEC declined to comment.
Chinese investors account for around 80 percent of the nearly 10,000 EB-5 visas issued annually.
Criticism of the program has centered on instances of fraud and the fact that most of the funds in a program originally intended to help impoverished areas have instead gone to wealthy urban districts. Despite these concerns, earlier this month, Congress extended the EB-5 program until September 30.
The Chinese road show for One Journal Square earlier this month also attracted criticism. Kushner Companies apologized for Nicole Kushner Meyers reference to her brother, President Donald Trump’s son-in-law Jared Kushner, during the road show.
The company stressed that he was only mentioned in order to make clear that he was not involved with the project. Kushner Companies representatives skipped some later road show events.
Jared Kushner, whose White House portfolio includes relations with China, sold his stake in Kushner Companies to a family trust early this year.