U.S. Senator Chuck Grassley (R-Iowa) is calling on the U.S. Department of Homeland Security, as well as the Securities and Exchange Commission, to investigate potentially fraudulent claims made by affiliates of the One Journal Square project.
“I am writing to request a review of potentially fraudulent statements and misrepresentations by Qiaowai Group, a Chinese company, and a second private company that calls itself the ‘U.S. Immigration Fund,’” Grassley wrote in a May 24th letter to DHS Secretary John Kelly and SEC Chairman Jay Clayton.
“Both are involved in the development of One Journal Square in Jersey City, New Jersey, promoting the project to potential investors who seek to immigrate to the U.S. through the EB-5 investor visa program.”
Grassley, the chairman of the Senate Judiciary Committee, goes on to say that while the exact roles of the two companies are undefined, they “both appear to be acting as a broker-dealer or agent for developers.”
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