Another Budget Deal Fail: EB-5 Visa Used In Chinese Immigrant Investor Fraud Still In Force
Okay, you’re a smart guy, and as the old Chinese saying goes, “the sky is high and the emperor is far away.” And you’re not hung up on morality and silly religions—you know what really counts is money. So you use your Communist Party connections and your sleazy business friends and soon you are rolling in millions.
But what if your connections lose favor and what if you’re caught? You want to get your money to some place safe and where your children get free education, breathe clean air, and eat food with less contamination.
Well to paraphrase the Beverly Hillbillies, the folks all say Vancouver, Canada is the place you want to be. But you find that Canadians have wised up—Vancouver housing costs have doubled—so a 15% tax on foreign property investment was enacted. [Asian Investors Shift to Seattle As a New Vancouver Tax Takes Effect, by Feliz Solomon, Fortune, December 5, 2016]
But those stupid Americans never wise up. Now Seattle is the place to go and in spite of the election of a President who was supposed to be aware of immigration problems, tucked away in the new budget is an extension of the EB-5 Visa (as well as an increase in H2-B Visas).
According to John Binder at Breitbart:
“EB-5 immigrant visa-holders primarily come to the U.S. from China. The program has endured public embarrassment for years, as more fraud cases involving the program come to light.
In a recent EB-5 fraud case, a Chinese couple was accused of getting $27 million in investments from some 50 Chinese investors, but did not end up using the investment as the EB-5 program mandates.”[Controversial EB-5 Visa Gets Extension, May3, 2017
So Seattle home prices continue to soar—pricing out American families. But I’m sure the real estate people and developers are happy and Americans get a new group of Chinese white collar criminals willing to do the jobs that Americans won’t do.
The question for President Trump is: when will the winning start?
See previous reporting from VDARE.com on EB-5 immigration:
- Trade Group Says The Lobsang Dargey Fraud Case Could “Damage Immigrants’ Chances Of Getting Visas”–It Should!
- EB-5 Visas: Selling Our Birthright for a Mess of Pottage
- Arcadia Vice: Chinese Oligarchs Laundering Money in My Late Aunt’s Suburb
- Vermont’s $350 Million EB-5 Visa Fraud—Yet Another Reason To SHUT IMMIGRATION DOWN!
- EB-5: The Visa For Chintzy Capitalists
- Scandals and Vice in EB-5 Visa Program
- The EB-5 Visa Ripoff Of Americans