Kushner family business cancels meetings with Chinese investors

US-POLITICS-TRUMP

US-POLITICS-TRUMP

The program was catapulted into the headlines this week when it became clear Nicole Kushner Meyer, sister of White House Senior Adviser Jared Kushner, had included a pitch to "invest early" in a Kushner Company real estate project in New Jersey, suggesting the Chinese should get in line for these "golden visas" before potential reforms crack down on their issuance.

Nicole Kushner Meyer's presentation to investors Saturday at the Beijing Ritz Carlton raised eyebrows across media and political circles when it was revealed she had emphasized to Chinese investors the possibility of securing EB-5 visas as a perk of investing in her company's almost $1 billion "1 Journal Square" real estate project in New Jersey.

Kushner Companies, in an apology, said mentioning Jared Jushner wasn't meant to lure investors but rather to note that her brother had left the company to move into government.

But The Washington Post reports that now there will be no meetings for Kushner Companies in China this weekend, citing a company spokeswoman.

The Kushner Cos. says no representative will be in China this weekend.

"The controversy began when reporters from The Washington Post and The New York Times sat in on a publicly advertised event at the Ritz-Carlton Hotel in Beijing on Saturday".

Kushner Companies is seeking $150 million from EB-5 investors for One Journal Square, a 1,467-apartment luxury tower in Jersey City with a projected cost upwards of $1 billion.

Trump to meet Russian Foreign Minister Lavrov
Nevertheless, Lavrov struck a conciliatory tone and said Russian Federation isn't intending to retaliate. Lavrov said Trump was seeking "mutually beneficial" and "pragmatic" relations with Russian Federation .

The event will be seeking money from Chinese investors in exchange for US immigration visas, according to the article.

The family real estate company, Kushner Cos., later apologized. She also mentioned her brother by name, raising further conflict-of-interest questions. The visa gives foreigners a path to live in the USA if they invest large amounts of money into projects that create American jobs.

The Kushner Cos. has used the program to finance other projects, including another building in Jersey City.

Critics accused the business of playing up the family's White House links.

However, despite this sales pitch, Trump actually signed an extension of the controversial visa program just one day before the event in Beijing was held. Office-sharing company WeWork confirmed this week that it is canceling plans to lease space as an anchor tenant.

Jared Kushner's father-in-law, Donald Trump, even popped up once during the presentation, described as a "key decision maker" about the future of the EB-5 program.

Steve Fulop, the mayor of Jersey City, also said over the weekend that he opposed the Kushners' request for $30.4 million in city bonds and a 30-year tax abatement.

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