The chairman of the Senate Judiciary Committee has called for an investigation into "potentially fraudulent statements and misrepresentations" made by companies promoting investment in a property development involving the family company of White House advisor Jared Kushner.
Citing a May 12 report by Reuters, Chuck Grassley, a Republican senator from Iowa, requested a review of claims made by Chinese migration agency
Grassley flagged his concerns to the Department of Homeland Security and the Securities and Exchange Commission in a May 24 letter that was later posted on his website.
Jupiter, Florida-based USIF contracted with Beijing-based
Kushner Companies is also working with KABR Group, a private equity fund, on the One Journal Square project, according to marketing materials on Qiaowai's website. The developers are seeking to raise $150 million, or 15.4 percent of the funding, from EB-5 investors.
Because the SEC considers some EB-5 investments securities, companies, and individuals that market these investments must comply with U.S. securities laws.
EB-5 schemes must also comply with immigration rules. Under
In an emailed response to a request for comment on Grassley's letter, Stu Loeser, a spokesman for USIF, said: "