Monday, November 30, 2015

New York Regional Center Coming Under Unfair Attack

November 11, 2010 by Michael Gibson  
Filed under EB-5 Visa News

In Defense of EB5

According to  Attorney Carolyn Lee, the New York Regional Center has been coming under unfair attack by one blogger. She feels that the attacks against the EB5 investor program are not only unfair, but the allegations are also false.

Specifically, 1. “Not only does it look like the United States is selling visas, but the terms are easier than in other countries.” Carolyn feels this is inaccurate as, for example, the federal Canadian investor program has three basic requirements: (1) business experience, (2) minimum net worth of CN$800,000 (US$560,000), and (3) investment of CN$400,000 (US$281,000).  There is no requirement that any jobs be created.  The Canadian government holds the money for five years, after which it is returned to the investor without interest.  The low threshold is responsible for the vast oversubscription of the Canadian investor program, resulting in a current three-year backlog.

Carolyn also feels that the charges of non-support of the EB5 program in Congress is false, as well as charges of lax oversight by the USCIS.

It’s one thing to have a discussion, but propaganda by a lone blogger is unfair. The success of the EB5 visa program is too important.

Carolyn’s entire article can be read here

Related posts:

  1. New York City Regional Center, Brooklyn Naval Yard story
  2. EB5 Regional Center “Imposters” Under Scrutiny in Washington State
  3. Northern California Regional Center News To Share
  4. EB-5 Program To Fund Redevelopment Of New York Navy Yard
  5. EB5 Investment Visa & Regional Center Development Workshop in Chicago


4 Responses to “New York Regional Center Coming Under Unfair Attack”
  1. Norman Oder says:

    Ms. Lee disserves readers by not pointing them to my original critique. That allows her to cherry-pick the evidence, evade full responses, and deny readers the opportunity to make evaluations on their own.

    My full response is here:

    Norman Oder
    Atlantic Yards Report

  2. Steve Ettlinger says:

    It seems like the use of the EB-5 program is indefensible in this case, despite Ms. Lee’s attempts. After all, the money in question will not improve the project nor create even one job — the developers have made it clear that all the financing and planning is in place. It is nothing more than a chance for the developer, Forest City ratner, to get some money without having to offer ANYTHING in return. I heartily suggest you re-read Mr. Oder’s original article about this on the Huffington Post:

  3. Michael Rogers says:

    Oder’s is not just some blogger. He is an investigative journalist who has, variously, written for The New York Times and co-authored a paper in a legal journal. He is clearly drawing blood with this remarkable story and I look forward to hearing more.

    The NY and Federal governments have decided to let a connected developer sell green cards for no other reason than to lower his financing costs. They have also countenanced a fraudulent marketing campaign in China, safely away from the eyes of all but the most inquiring journalist.

    It’s not only a misuse of taxpayer funds, it’s a desecration of the meaning of US citizenship. Kudos to Oder for taking this on.

  4. SteveFtGreene says:

    Unfair attack? I don’t think the criticism being leveled at the EB-5 program is the least bit unfair. You should expect some criticism when you have nothing to show for the EB-5 program. How about you add something (anything!) to your projects page (the link is on the third from the left at the top of this page, just in case you’ve forgotten). If EB-5 is accomplishing so very much, why not post something about the projects? Otherwise, you should most definitely expect the scrutiny to continue.

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