In my recent blogpost about Tuesday's Senate hearing on the EB-5 program, I reported that the DHS official in charge of the program, Nicholas Colucci, did not give a substantive response to a question from the Chairman of the Judiciary Committee, Sen.Chuck Grassley (R-Iowa), about the involvement of Chinese governments in EB-5 projects in the United States.
More specifically Grassley asked (approximately), "Can you tell me that no Chinese government owns a regional center?"
There are more than 700 regional centers, all DHS-licensed and mostly for-profit entities, that play the middleman role between foreign investors and U.S. developers. Colucci must — or should — know that the website of one of those centers, MCIG, which has an office in Miami,
This strongly suggests municipal ownership; private corporations, at least in this country, are unlikely to have an address in a city hall. Is the USCIS staff so dense that they did not shoot a memo up the chain of command when they first noticed this, you will pardon the expression, red flag? One would hope not.
Two notes about Chongqing: Older readers will recognize an earlier spelling, Chungking, as that of the Nationalist Chinese capital of the country during World War II.
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