May 1, 2016
To: America's Governors and other Elected Officials
From: David North, Center for Immigration Studies
Re: Warning: Overseas Travel to Promote EB-5 Investments Can Be Risky
The invitations look attractive — a trip to China or Vietnam, a place you have never been, all at the cost of either the EB-5 promoters or the state business development budget. All you have to do is appear at an event or two to promote the EB-5 (immigrant investor) program, and you will surely get a nice trip; and maybe you will bring some investment-created jobs to your state.
The big problem is that many EB-5 investments turn out to be disasters for the investors and for everyone connected, directly or indirectly, with them. And it can happen to pols in both parties. Read more...