Trump tower in New Jersey financed by rich Chinese
The video was produced to help raise tens of millions of dollars through a controversial government program that offers expedited visas to foreign investors overwhelmingly from China.
Applicants are sometimes cleared in less than a month and the critics say the government is essentially selling visas to wealthy foreigners with no proven skills, paving the way for money laundering and compromising national security.
Trump Bay Street is a 50-story luxury rental apartment building being built by Kushner Cos., whose chief executive officer, Jared Kushner, is married to Trump’s daughter Ivanka.
In exchange for investing at least $500,000 in a project promising to create jobs, foreigners receive a two-year visa with a good chance of obtaining permanent residency for them and their families.
The Government Accountability Office, the investigative branch of Congress, found last year in a general report about the EB-5 program that many applications contained a high risk of fraud, and discovered cases of counterfeit documentation.
Giresi of US Immigration Fund says his firm uses “very stringent compliance programs” with a “great amount of due diligence” to look into the background of prospective investors, including hiring private investigators.