Remember when the United States Department of State, Bureau for International Narcotics and Law Enforcement Affairs released the March 2017 International Narcotics Control Strategy Report (INCSR), Volume II, on Money Laundering and Financial Crimes? Among other things, they famously labelled our Citizenship by Investment Programmed (CIP) as “among the most lax in the world”. And do you remember that Steve Kroft report on the CBS 60 Minutes programme that was entitled “Passports for Sale”, which highlighted all the negatives of CIP with little regard for the positives?
Good. Because our quick-to-criticise neighbours to the north seem to have a bit of a situation on their hands. According to some very reputable news organisations, including The Wall Street Journal (WSJ) and National Public Ratio (NPR), to name just a couple, a father-daughter duo has been accused of EB-5 Visa fraud. The pair allegedly helped obtain visas for quite a few Chinese nationals … wait for it … some of whom are on the country’s ‘100 Most Wanted’ fugitive list. Yup! The top 100 list.
According to NPR, “Federal authorities raided a Los Angeles-area business on Wednesday that the FBI suspects of orchestrating a $50 million visa fraud scheme. Filings in federal court allege that the California Investment Immigration Fund sought money from more than 100 Chinese investors, and in the process helped many of them to obtain US green cards through a visa program called EB-5.”
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