A major theme here at Liberty Blitzkrieg over the past year has been the creative ways in which corrupt Chinese oligarchs and government officials are maneuvering their way into the United States. To be clear, I am not anti-immigration by any stretch of the imagination. My mother was an immigrant. This is about being against corrupt and morally compromised individuals being welcomed here with open arms just because they have cash. We have enough domestic criminal oligarchs as it stands. These people have collectively captured the American political and economic system and control it to their own ends. Do we really need to import more of these types from abroad?
Did you know that there exists a federal Immigrant Investor Program that grants “EB-5″ immigration visas to foreigners who provide at least $500,000 to U.S. projects that create 10 or more American jobs? I wasn’t familiar with this, but apparently the good folks at the Pennsylvania Turnpike Commission are well aware of it, and are using it to raise $200 million.
Here’s what I’d like to know. Who are these investors and who vets them? It is a known fact that corrupt Chinese officials and businessmen are scrambling to get themselves and their money out of their homeland as the government cracks down on corruption. How many of them are going to use this program to get into the U.S., and what will be the long-term impact to our society? Important questions that must be asked, but most likely aren’t being taken seriously.
In exchange, the investors hope to get permanent residency in the United States for themselves and their families.
The heavily indebted Turnpike Commission is borrowing the $200 million from foreign investors under the federal Immigrant Investor Program that grants “EB-5″ immigration visas to foreigners who provide at least $500,000 to U.S. projects that create 10 or more American jobs.
The foreign investors and their families will get a quick path to legal residence in the United States, though they may lose money on their investment.
The brokers and lawyers will collect millions in commissions and fees, with each of the 400 investors paying $50,000 to the dealmakers and $15,000 to the lawyers.
At least someone’s getting paid.
As I mentioned at the top, this has been a theme on the site all year. Check out these previous posts on the topic:
Full article: How the Pennsylvania Turnpike Commission is Selling Residency to Chinese “Investors” at $500k a Pop (Liberty Blitzkrieg)