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KUSHNER/TRUMP still marketed in China

Companies marketing the visas can make more than $100,000 per EB-5 client, lawyers and advisors involved in the program say, but investors typically aren’t told how much money the agent is earning on a transaction.

The GOP Congress last week extended the EB-5 program until September 30.

While Jared Kushner’s family company apologized for using its ties to Trump to sell green cards,   Beijing-based Qiaowai, continues to advertise its U.S. political connections. The Kushner Companies voluntarily skipped  Qiaowai road show events in China for a weekend.

Shortly into the original Kushner roadshow, the company posted photos on social media saying the events had prompted a “buying rush”. Their gig uses the  EB-5 program to which grant wealthy Chinese – a U.S. green card in exchange for investing $500,000 or more in a qualified project.  Under the rules of the program, promoters should never promise green cards to investors or guarantee that their investments will pay off. However, an examination by Reuters of some of Qiaowai’s online marketing materials show the firm has skirted those rules.

 

The EB-5 program has come under fire from politicians who point to repeated fraud and abuse, and to the fact that a scheme originally intended to bring jobs to high-unemployment areas often has been used to fund projects in wealthy neighborhoods.  Qiaowai sells its services by  emphasizing its contacts with U.S. politicians in order to reassure potential investors their EB-5 projects will be successful, industry executives say.  In a promotional text message seen by Reuters, Qiaowai made note of Kushner’s suster in law was introduced at the event as a  “heavyweight honored guest”. In January, Qiaowai noted on its website that its founder and president, Ding Ying, had attended President Trump’s inauguration, meeting with the President and members of his family and cabinet. “The fact that Ms Ding has once again been invited to attend a presidential inauguration shows that the U.S. Congress values and approves of the Qiaowai group,” it wrote.

The White House did not immediately respond to a request for comment about whether Trump had met with Ding Ying. A spokesman for Vice President Mike Pence said his office has no recollection or record of any meeting taking place.

 

Several experts interviewed by Reuters said the promises by Qiaowai were a breach of the program’s rules while others played down the concerns, saying such representations were commonplace and just one aspect of a problematic program.

The fees and terms of Qiaowai’s arrangements with Kushner, KABR and USIF have not been disclosed.


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