While our attention has been drawn to various immigration initiatives by the new White House, and the attacks thereon, a lot of things have been happening rather quietly in the world of the EB-5 (immigrant investor) program. For example:
Sen. Chuck Grassley (R-Iowa), chair of the powerful Judiciary Committee, who has been valiantly trying to reform the program, has decided that it is beyond redemption and has joined Sen. Dianne Feinstein (D-Calif.) in calling for its termination.
The Washington Post, in a lead editorial the other day, agreed with the two senators.
Joop Bollen, who was in charge of South Dakota’s disastrous part of the EB-5 program, has pled guilty in a sweetheart deal with the state that gave him two years probation and a $2,000 fine. Thus he got off nearly unscathed while saving the state’s establishment from embarrassments that might have accompanied a trial.
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