Disir
Platinum Member
- Sep 30, 2011
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The target of a series of press conferences in a half-dozen cities is the EB-5 immigrant investor program, which allows foreigners to get green cards by investing at least $500,000 in American businesses, as long as the money creates at least 10 jobs.
Created by Congress in 1990 as a way to stimulate the U.S. economy, the program is supported by business groups and has increasingly been used in recent years by real estate developers and other firms seeking foreign investors. In the District, for example, investors have put up more than $110 million and created more than 1,500 jobs through projects such as the Marriott Marquis convention center hotel, according to a trade group that backs the program.
But with legislation authorizing EB-5 set to expire next month, immigrant advocates are highlighting what they say are unpublicized problems. They say the program doesn’t create as many jobs as advertised and that those jobs it does create don’t benefit the nation’s estimated 11.3 million illegal immigrants, some of whom work on the projects.
Critics: Visa program for wealthy foreigners is ‘Immigration Reform for the 1%’
The Washington Post does not quite cover how bad this program is.
It's the fraud.
Right wing:
Investor visas get ‘lipstick on pig’ treatment - Watchdog.org
EB-5 Immigration Program Susceptible To Fraud - Breitbart
Less Right wing:
Report: Feds Must Do More to Assess 'Wealthy Investor' Visa Fraud
GAO says feds lack proper oversight of EB-5 investor visa program
The report in question:
Immigrant Investor Program: Additional Actions Needed to Better Assess Fraud Risks and Report Economic Benefits
What it looks like
Kin of Crooked Korean Kingpin Caught Up in EB-5 Case
SEC Sues Wash. Regional Centers Over $136M EB-5 Fraud - Law360
Chinese investors sue LA investment firm for misusing money
Yep and read those candidate's words carefully. They let you know they have no problem with the rich guys.
What it looks like when it's pretty:
Touting connections, Hillary's brother takes on Philly project
Like Clintons, Bush Family Has Ties To Visa Program For Wealthy Foreign Investors
Created by Congress in 1990 as a way to stimulate the U.S. economy, the program is supported by business groups and has increasingly been used in recent years by real estate developers and other firms seeking foreign investors. In the District, for example, investors have put up more than $110 million and created more than 1,500 jobs through projects such as the Marriott Marquis convention center hotel, according to a trade group that backs the program.
But with legislation authorizing EB-5 set to expire next month, immigrant advocates are highlighting what they say are unpublicized problems. They say the program doesn’t create as many jobs as advertised and that those jobs it does create don’t benefit the nation’s estimated 11.3 million illegal immigrants, some of whom work on the projects.
Critics: Visa program for wealthy foreigners is ‘Immigration Reform for the 1%’
The Washington Post does not quite cover how bad this program is.
It's the fraud.
Right wing:
Investor visas get ‘lipstick on pig’ treatment - Watchdog.org
EB-5 Immigration Program Susceptible To Fraud - Breitbart
Less Right wing:
Report: Feds Must Do More to Assess 'Wealthy Investor' Visa Fraud
GAO says feds lack proper oversight of EB-5 investor visa program
The report in question:
Immigrant Investor Program: Additional Actions Needed to Better Assess Fraud Risks and Report Economic Benefits
What it looks like
Kin of Crooked Korean Kingpin Caught Up in EB-5 Case
SEC Sues Wash. Regional Centers Over $136M EB-5 Fraud - Law360
Chinese investors sue LA investment firm for misusing money
Yep and read those candidate's words carefully. They let you know they have no problem with the rich guys.
What it looks like when it's pretty:
Touting connections, Hillary's brother takes on Philly project
Like Clintons, Bush Family Has Ties To Visa Program For Wealthy Foreign Investors
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