New DHS Public Charge Rule

On August 14, 2019, the U.S. Department of Homeland Security (DHS) published a final rule governing the public charge grounds of inadmissibility, found at section 212(a)(4) of the Immigration and Nationality Act (INA). Unless litigation halts implementation of the rule, it will go into effect after 60 days, on October 15, 2019. Here is a summary provided by the American Immigration Lawyers’ Association (AILA).

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Members of Congress Probing Potential EB-5 Related Securities Fraud by Kushner Companies

Members of Congress from both parties are investigating whether Kushner Companies’ EB-5 fundraising activities constitute securities fraud.

As has been widely reported, Kushner Companies recently put on a roadshow to market to Chinese investors a New Jersey real estate project called One Journal Square. The investments are structured such that investors may qualify for green cards through the EB-5 program, which requires a minimum $500,000 investment resulting in the creation of at least 10 U.S. jobs.

Initial reporting about the roadshow led the Kushner Companies to apologize for boasting about their ties to White House adviser Jared Kushner during the roadshow. “In a sector where investors are wary of failing projects and policy changes that would jeopardize their visas,” writes Alexandra Harney for Reuters, such boasts are meant to “reassure potential investors their EB-5 projects will be successful.”

Reuters subsequently reported that Kushner Companies’ activities may have crossed the line from boasting to misrepresentation. This perhaps makes the company vulnerable to charges of securities fraud by the U.S. Securities and Exchange Commission (SEC).  Specifically, advertisements by the company’s marketing agent in China contain multiple misrepresentations about the safety of the investment.

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Kushner Companies EB-5 Activities Reported by Reuters and NY Times May Constitute Securities Fraud

As has been widely reported, Kushner Companies recently put on a roadshow to market to Chinese investors a New Jersey real estate project called One Journal Square. The investments are structured such that investors may qualify for green cards through the EB-5 program, which requires a minimum $500,000 investment resulting in the creation of at least 10 U.S. jobs.

Initial reporting about the roadshow led the Kushner Companies to apologize for boasting about their ties to White House adviser Jared Kushner during the roadshow. “In a sector where investors are wary of failing projects and policy changes that would jeopardize their visas,” writes Alexandra Harney for Reuters, such boasts are meant to “reassure potential investors their EB-5 projects will be successful.”

Reuters and the New York Times are now reporting that Kushner Companies’ activities may have crossed the line from boasting to misrepresentation. This perhaps makes the company vulnerable to charges of securities fraud by the U.S. Securities and Exchange Commission (SEC).  Specifically, advertisements by the company’s marketing agent in China contain multiple misrepresentations about the safety of the investment.

Continue reading “Kushner Companies EB-5 Activities Reported by Reuters and NY Times May Constitute Securities Fraud”

L-1 Visa Guide: Intracompany Transfer Visas for Start-Ups and Mature Companies

Read the L-1 Visa Guide: Intracompany Transfer Visas for Start-Ups and Mature Companies:

The purpose of this Guide is to provide an overview of the requirements and procedures involved in applying for an L-1 (intracompany transfer) visa, seeking admission to the U.S., and complying with the terms and conditions of the visa. Continue reading “L-1 Visa Guide: Intracompany Transfer Visas for Start-Ups and Mature Companies”

President Signs EB-5 Extension into Law

EB-5Congress gave final approval last Friday to a $1.1-trillion funding bill, keeping the government running through September 30, 2016 (the end of the fiscal year). Tucked into the law is a provision to extend a key part of the EB-5 investment immigration scheme. The provision extends the pilot program for regional centers through September 30 with no changes. Continue reading “President Signs EB-5 Extension into Law”

SEC Says Chicago Convention Center EB-5 Project Fraudulently Sold $145 Million in Shares to Chinese Investors

Anshoo_SethiThe Securities and Exchange Commission (SEC) last week charged that Anshoo R. Sethi fraudulently sold more than $145 million in securities and collected $11 million in administrative fees from more than 250 investors, primarily from China. Sethi is alleged to have duped investors into believing that by purchasing interests in a company known as “a Chicago Convention Center” (ACCC), they would be financing construction of a hotel and conference center near Chicago’s O’Hare Airport. The investment was marketed as a way for the investors to get green cards through the EB-5 immigrant investor program. Continue reading “SEC Says Chicago Convention Center EB-5 Project Fraudulently Sold $145 Million in Shares to Chinese Investors”