Trump lawyer’s help seems to have boosted Florida immigration firm
President Trump’s personal lawyer Michael Cohen appears to have helped a Florida immigration firm earn millions after it reached out to Cohen last year, The Associated Press reported.
The immigration firm U.S. Immigration Fund (USIF), owned by Nicholas Mastroianni II, was threatened by a regulatory crackdown on the federal EB-5 program that gives foreigners permanent residency if they invest in certain U.S. real estate ventures, according to the AP.
The owner reached out to Cohen and the lawyer connected Mastroianni with a lobbying firm that paid Cohen for referrals.
While it is not clear what the lobbying firm did, the crackdown on the visa program fell apart soon after, according to the report.
The end of the crackdown left USIF, the most successful visa broker operation in the U.S., to make millions in fees by acting as middlemen connecting U.S. companies to visa-seeking investors abroad. The firm says it has raised $3 billion for projects using the EB-5 program since 2010.
However, the proposed crackdown on the EB-5 program would have limited the program to struggling communities, which would not have been useful for USIF’s business.
At the time of the proposed crackdown, Mastroianni was in the middle of raising at least $700 million for several buildings in the New York City area, the AP reported.
Mastroianni has been connected to Trump associates before.
Federal prosecutors in Brooklyn reportedly investigated the real estate firm once ran by Trump adviser and son-in-law Jared Kushner after an abandoned plan that would have seen USIF raise $150 million in China for Kushner's business, the AP reported.
Subscribe for News
This website is for informational purposes only and does not constitute an offer or solicitation to sell shares or securities. Any such offer or solicitation will be made only by means of an investment's confidential Offering Memorandum and in accordance with the terms of all applicable securities and other laws. This website does not constitute or form part of, and should not be construed as, any offer for sale or subscription of, or any invitation to offer to buy or subscribe for, any securities, nor should it or any part of it form the basis of, or be relied on in any connection with, any contract or commitment whatsoever. EB5Projects.com LLC and its affiliates expressly disclaim any and all responsibility for any direct or consequential loss or damage of any kind whatsoever arising directly or indirectly from: (i) reliance on any information contained in the website, (ii) any error, omission or inaccuracy in any such information or (iii) any action resulting therefrom.