... , the program has been beset by ongoing allegations of fraud. It has been continually reauthorized by Congress, but only ... [U.S. Citizenship and Immigration Services],” which runs the EB-5 program, Fieldstone said. Fieldstone said that legislators don't ...
... and The Wharf in D.C. were built with EB-5 funds. Ideally, an EB-5 project will be in a "targeted employment area ... consider evidence showing that a longer period was reasonable." The EB-5 program needs to periodically be reauthorized by Congress. Right now ...
... Journal reports. Vietnamese citizens accounted for 20% of all EB-5 visas awarded last year, continuing a steady and rapid growth ... had. The fraud issues plaguing the program are not tied to any one nationality. The wait time for new EB-5 applicants from ...
... Committee. In the meantime, regulatory revisions to the existing EB-5 program, the first since the 1990s, were finalized earlier ... the existing rules. “I am having to turn away [EB-5] investors,” Florida-based Driftwood Acquisitions and Development Head of ...
... fraud (including a case set to go to trial in April) and a persistent backlog of applications. Though longer extensions to EB-5 ... debates its future. A number of proposals regarding EB-5 have emerged from Congress, including its abolition. Regulatory ...
... administration would increase the annual number of available EB-5 visas from 10,000 to 75,000 while ... Until the recent changes took effect, revisions to the EB-5 program hadn’t occurred since the 1990s. The latest ... past and there have been cases of fraud.
... , get green cards and eventually citizenship. Because fraud has plagued many EB-5 deals, many stakeholders have sought for years to ... and perhaps the most outspoken critic of EB-5, in a statement. Some EB-5 industry players have been lobbying the White ...
... and the Paramount Miami condominium. Although developers gobbled up EB-5 money after the housing crash and the Great Recession when ... debt to partially finance projects. The EB-5 program has also seen its share of fraud. In South Florida, one developer was ...
... 1502, the bill to terminate EB-5, was filed a month prior to ... EB-5 visas suddenly skyrocketed, and now, there is an eight-year waiting list.” He said that the program’s “fraud ... and abuse” have been “disguised as popularity.” EB-5 visa holders ...
... EB-5 investment, for the program to be shuttered permanently. She also labeled the program “a big magnet for fraud ... Investor Program, which administers the EB-5 program. Another controversial aspect of the EB-5 program involves the designation of targeted ...
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