There’s a lot going on in the usually shuttered world of the EB-5 (immigrant investor) program. There is an intriguing new court case, reminders by the DHS inspector general that the program has not taken basic steps for reform laid out years ago, and a sober New York Times review of the whole scene.
The Court Case. Usually when the EB-5 program gets into the courts it is easy to choose sides, at least for me. It is usually another instance of the aliens who lost their money suing what they regard (usually correctly) as cheating resident middlemen.
The latest case, Does 1-72 v. U.S. Citizenship and Immigration Services, is different; it is one of those “go-it-husband, go-it-bear” cases. I mean, who do you root for when the combatants are 72 anonymous multi-millionaire aliens wanting to buy handfuls of green cards vs. the usually sloppy managers of the program at USCIS?
The developer in this case, Quartzburg Gold, mine operators in Idaho and Montana, is largely sidelined while the wealthy Chinese (using a heavyweight law firm connected with the late Senate Majority Leader Howard Baker, Jr. (R-Tenn.) battle it out with the Obama administration’s immigration officials.