Kushner Companies raising money in China for New York apartments

New York real estate developers KABR Group and Kushner Companies held a publicly advertised event to raise money for a New York apartment building—but denied access to media.

The developers hope to raise $150 million through the event and others, organized by Chinese immigration agency Qiaowai. The events are advertised as opportunities for investors to get EB-5 visas. Foreigners who invest more than $5000,000 in certain development projects are eligible for the visas.

Jared Kushner was a principal owner and CEO of Kushner Companies. He resigned as CEO after being named presidential adviser. He also started selling off business interests at that time, to avoid conflicts of interest.

One potential investor, building materials tradesman Liu Guoqi said afterward that he felt more secure investing in this project than one offered by the Chinese government.

“I think if in China, you have a government background, it could be a scam.

“But in America, can the president make all rules? I have no idea. Does the federal government have relationships with the local government? I don’t think so. He’s just being the president.

“Of course, he was a businessman right? It’s fine if businessman does his business according to the rules. Unless you violate business rules of course, if that’s true he will receive punishment sooner or later.

“As an investor, I don’t care who he is. I only care if my capital is safe,” said Liu.

 
 
 
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