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Confused about the EB-5 program Kushner is using in Jersey City? Here’s what you need to know

Read TRD's 2016 investigation about the cash-for-green card program
By Katherine Clarke and E.B. Solomont | May 09, 2017 02:15PM

Charles Kushner and Nicole Meyer and a rendering of One Journal Square

From the New York Archives: Howard Michaels, the tough-talking finance broker, shot off an email in 2014 to his client Michael Shvo.

Michaels, who heads the Carlton Group, had just gotten off a long phone call with Nicholas Mastroianni II, the head of the U.S. Immigration Fund, New York’s biggest EB-5 regional center, and was convinced that EB-5 money from Chinese investors was the perfect financing solution for Shvo’s planned 275-unit condo at 125 Greenwich Street in Lower Manhattan. “[It] sounds like legalized crack cocaine,” he raved to Shvo, according to an email later revealed in a lawsuit between the two. “You guys would be crazy not to jump on this.” [more]