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Vermont’s $350 Million EB-5 Visa Fraud
Yet Another Reason To SHUT IMMIGRATION DOWN!
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The best book written in recent years about our immigration system has been Michelle Malkin and John Miano’s very well-researched 2015 publication Sold Out: How High-Tech Billionaires & Bipartisan Beltway Crapweasels Are Screwing America’s Best & Brightest Workers. If you’ve read that book—and even if, like me, you are still unsure what species and genus the crapweasel belongs to—you will know that our immigration system is FUBAR from top to bottom.

Somewhere near the bottom is the EB-5 visa program, described by Malkin and Miano in Chapter Seven of their book. The “EB” stands for “Employment-Based.” The idea of the program is to encourage foreign entrepreneurs to create jobs for Americans by investing in new or troubled businesses here. In return, the entrepreneur—along of course with spouse and children—gets to settle in the U.S.A.

It all sounds reasonable. But, as Malkin and Miano amply document, the EB-5, like every other visa category, is addled with fraud, abuse, and good intentions gone wrong.

Over to the New York Times—headline: Fraud Charges Mar A Plan To Aid A Struggling Vermont Region [ By Katharine Q. Seelye, May 10, 2016]

The struggling region is in the far north of Vermont, up against the Canadian border. The fraud charges, filed in two complaints by the State of Vermont and the Securities and Exchange Commission, are against a pair of American businessmen who recruited foreign entrepreneurs—hundreds of them—using the EB-5 visa as bait.

“Come in with us,” said these two guys, whose names are Quiros and Stenger, “Come in with us on our project to build a ski resort, hotels, and a biotech research firm. Come in with us and you’ll not only be making a great investment, you’ll get residence in the U.S.A. too!”

Quiros and Stenger made sure to line up political support. They got Peter Shumlin, the notorious immigration-enthusiast Governor of Vermont, on board, and also the state’s two Senators, Patrick Leahy and, yes, Bernie Sanders. They raked in a lot of money: the Times says \$350 million dollars. In the little town of Newport up there, a whole block of stores and apartments was demolished for one of these projected developments. Nothing’s been built, though; not one brick laid on another.

Where did the \$350 million go? The Times report doesn’t say clearly, although they do say, quote:

Mr. Quiros was accused of siphoning off \$50 million for his personal use, which included buying a luxury condominium in Trump Place New York.

How’d you like that?—a Sanders angle and a Trump angle!—not of course that Trump is in any way to blame for this fiasco, though Bernie does seem culpable to some degree.

Isn’t the EB-5 visa program carefully supervised by the Customs and Immigration Service? Ha!

EB5-Visa[1] This is your nation’s immigration system at work, listeners: an ATM for crooks and con artists, a badge of political respectability for grandstanding congressreptiles gushing about our “nation of immigrants” before heading off to another lobster dinner with the likes of Quiros and Stenger, a disaster for us, the American people.

Shut it down, shut the whole thing down. We have all the people we need, there’s no reason for any further settlement. Spouses and dependent children of U.S. citizens; a few individuals of exceptional ability or accomplishment; a few foreigners who’ve put their lives on the line to help the U.S.A.; that’s it, that’s all we should take, a few thousand immigrants a year.

We have no shortage of entrepreneurs, or tech workers, or young people willing to work summer jobs, or any of the other legal-immigration categories.

Shut it all down!

ORDER IT NOW

John Derbyshire [email him] writes an incredible amount on all sorts of subjectsfor all kinds of outlets. (This no longer includes National Review, whose editors had some kind of tantrum and fired him. ) He is the author of We Are Doomed: Reclaiming Conservative Pessimism and several other books. He’s had two books published by VDARE.com: FROM THE DISSIDENT RIGHT (also available in Kindle) and From the Dissident Right II: Essays 2013. His writings are archived atJohnDerbyshire.com.

(Republished from VDare by permission of author or representative)
 
• Category: Economics • Tags: Immigration 
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  1. I’ll post the links if I can find them but a couple of years ago I saw one of these EB-5 schemes in the guise of a real estate investment venture.

    Basically, the idea was to go to an already proposed real estate building venture in the United States, promise the developer foreign investors, and then impose a corporate structure on the whole venture that would allow the foreign investors to become EB-5 investors with the construction workers (who would have worked on the building project anyway) being claimed as the employment created by foreign investment.

    So, rather than wealthy Shanghainese (for instance) merely buying expensive real estate in the US for investment purposes, they could invest in an already underway real estate project in the US. The deft paper restructuring/lawyered documentation would turn the project into a fountain of green cards.

    I don’t know how many of these schemes exist.

    I daresay they are entirely legal, and as a former banking professional, it is easy to see how the necessary paper restructuring could be achieved.

    The Vermont scheme you refer to is different. It appears to be a simple case of fraud and siphoning off money from an investor pool. These types of schemes can be stopped by an application of the law.

    But clever legal/immigration arbitrage of the type I’ve outlined cannot. Except by abolishing the EB-5 program in its entirety, which, in any case, is un-American, because it allows rich people to buy residency rights here for themselves and their families.

    • Agree: Travis
  2. bomag says:

    Everything here is spot on, but a large chunk of our business and bureaucrat class have lost their sense of self preservation.

    It is not enough to admire foreigners; one must actively recruit them; import them; and actively give the country to them.

    It is mortification of the flesh writ large.

  3. Blobby5 says:

    Another great show Derb! Keep up the amazing work!

  4. Rehmat says:

    John Derbyshire – go and read some objective history source on American, Australia and New Zealand. Everyone on those places is an immigrant. The real Natives were put into ghettos by the early White Judeo-Christian invaders.

    America’s whole history is based on fraud, lies and ponzi schemes. Let me freshen-up with some of biggest crooks who stole far more money than your Sh*t story of \$350 million to support your anti-immigration agenda.

    Bernard Madoff, a White Zionist Jew – \$65000 million. His both associates, J. Ezra Merkin and Feinberg are also White Jews.

    Israeli “Swiss” banker, Bruce Rapaport, a White Zionist Jew – \$5000 million.

    Julius Meinl V, head of an Austrian coffee-roasting dynasty and chairman of Meinl Bank, White – \$4000 million.

    Benny Steinmetz, a White Jew – \$2200 million.

    Barry Trannenbaum, a White Jew – \$1600 million.

    Werner Sombart (died 1941), German sociologist and author in his 1911 book, ‘The Jews & Modern Capitalism’, claimed that Jewish elites were the dominant beneficiary of Capitalism.

    https://rehmat1.com/2015/01/22/capitalism-is-jewish/

    • Replies: @Harold
    , @random observer
  5. Priss Factor [AKA "Anonymny"] says:

    http://www.city-journal.org/html/cuny-revival-14338.html

    Open Admissions ruined CUNY.

    Return of standards reviving it.

    Open Borders don’t work either.

  6. Priss Factor [AKA "Anonymny"] says:

    How about the Sanders Socialist Plan?

    According to this plan, we accept socialism but the demographics must be made to resemble that of Vermont.

    • Replies: @Marcus
  7. “We have no shortage of entrepreneurs, or tech workers, or young people willing to work summer jobs, or any of the other legal-immigration categories.”

    Vermont is a hell-hole for young people trying to find work as it is; the last thing it needs is cheap immigrant labor- especially wealthy foreigners who will work for practically nothing because they’re basically treating their time in VT as a vacation. If you’re an 18-year-old Vermonter outside of Burlington and environs, your career options are basically limited to 1) go to college out-of-state and never come back, or 2) work a dead-end, part-time, low-wage tourism job giving you just enough money to get hooked on heroin, then spend the rest of your short, miserable life on welfare until you die of an overdose.

    That said, in 20 0r 30 years, it’ll be a great place to live again, because all the drug addicts will be dead, and it’ll be full of nothing but rich white people… unless the immigration nuts get their way with VT like that have with all the other places full of nice white people.

    • Agree: artichoke
  8. Marcus says:
    @Priss Factor

    A bunch of limp-wristed Anglo and Irish leftists who will try to emulate Sweden (including its asylum policy)? No thanks.

    • Replies: @Priss Factor
  9. Priss Factor [AKA "Anonymny"] says:
    @Marcus

    But if society gets to remain 98% white, it’s not bad.

  10. So Bernie “It’s the fault of the rich” Sanders is lumped in with a \$350M scam eh? There’s a one-liner in there, somewhere, but it’s too late in the day for me to think of it.

  11. Harold says:
    @Rehmat

    Maori were not put in ghettos. And if they had been that would have been a better fate than one Maori tribe would have afforded another. The same is true with other native peoples. These White Judeo-Christian invaders seem like amazingly magnanimous folk.

    • Replies: @Rehmat
  12. Harold says:

    It’s all because of cities. Cities are where all mad schemes of men are born. In cities people lose touch with reality, with the nature of economy and community. Crush the urbanite!

    Who would come up with the ridiculous notion that employers should have any say in who gets to immigrate? The decision should obviously be up to the people in the communties the immigrants are moving in to.

  13. @Rehmat

    A colonist is not an immigrant.

    If you do the work of bringing an army, or at least a steady supply of personal arms for defence, carve out and arrange the land yourself, and essentially import your own society and plant it in the new land, set up your own laws, etc., you get to call it yours. As I said, you’ve put in the work.

    If you come to a land in which a state is already established with institutions and laws, legally, you are an immigrant. If you do it illegally you are a lawbreaker and it can kick you out. And it should do, even if it takes 10 years to catch you.

    The original Americans were colonists. The many waves of people who came after were immigrants to the colonies and later United States that those original people set up- if they went westward outside settled parts I guess they were also settlers or even also colonists themselves, although the great westward migration was into territory already legally claimed by the US and being charted and surveyed by it, and with the US Army setting up forts along the way. And at any rate, said immigrants were immigrating to the colonists’ polity under the colonists’ laws, and solely by their permission to gain a share of benefits that existed solely due to the colonizers’ efforts.

    The later immigration is a product of and beneficiary of the original colonization, and it is both sophistry and ingratitude for anyone coming from the perspective of the immigrant to claim either that he is engaged in the same kind of activity as the original colonist, or that they, like him, arrived in an established native polity with laws and institutions and a framework to absorb them. Likewise, it is falsehood and ingratitude for the immigrant to identify with the pre-colonization indigenous people, since the immigrant is not only the beneficiary of the colonization of their land, but is indeed the beneficiary without having put in the work of colonization.

    If an indigenous people wants to prevent all this, they advance to the point where they have an organized polity and laws that encompass the territory in question. Ideally, they also have the material conditions and technology to enforce that. The aboriginal peoples of North America never [save a few very late in the day] had the organized polity or polities, laws, adequate notions of borders or territorial claims the way Europeans understood them. Sucks to be them. They did occasionally have the will to fight for the ways of life they did understand, although right to the end none ever managed to free themselves of dependence on Europeans for arms.

    Or, to put it all another way, the Indians had a bunch of tribes with fairly fluid understandings of territory, primitive legal customs even by medieval standards, and no state institutions into which the settlers might have been said to be immigrating. They sure didn’t have pre-existing towns and villages in which the newcomers had to just settle in and live among them. [Not that they wanted to do so]. The newcomers had to import their culture and create their own villages.

    [If the Mississippian culture hadn’t collapsed so hard, for disease or whatever reasons, maybe the Eastern North American peoples would have been better organized and certainly more numerous. They would still have been behind the MExicans in both institutional and technological capacity, and even the MExicans were hopeless against Europeans. But the first colonists to North America did benefit from showing up in the aftermath of a great civilizational and demographic collapse. Compare the situation of Middle Eastern peoples if they had moved into a Europe circa 1400 in which the plague had carried off 80% of Europeans and the entire superstructure of Holy Roman Empire, Church, and various kingdoms had just disintegrated, and the Turks had a technological lead of many centuries.]

    When Pakistanis coming to Britain come on their own ships or aircraft, owned by them or hired from Pakistani ship-owners or airlines [I’d add “designed from scratch by Pakistani naval architects and aerospace engineers” for a true comparison but that wouldn’t be kind], at their own expense or sponsored by Pakistani state and businesses, with arms, and just settle on the Isle of Wight and build their own gated communities defended by their own militias, and take up farming, and don’t expect British welfare, police protection, etc., then they will be attempting colonization along the traditional lines. I could respect that, although I would certainly advocate the British state eradicating them.

    What actually happens is they come in individually or in groups, accept the protection of local institutions, and only latterly set up enclaves in which they try to enforce their own norms. The colonial model of the Genoese and Constantinople in the late Middle Ages, parasitical and ultimately fatal to the host, although the Italians at least provided useful commercial services and took part in the city’s final defence.

    • Replies: @Michelle
    , @Jeff77450
    , @Rehmat
  14. Sean says:

    Utopia of Greed.

  15. Michelle says:
    @random observer

    You are a God amongst mere boys! I worship at your temple.

  16. Rehmat says:
    @Harold

    YES- the Judeo-Christians have their version of history while their victims have their.

    For example, White folk’s history never mention that priest accompany the European throat-cutters entering the Native American villages used to give 15-minutes to the villagers, to accept Christianity or face the sword. These killers also honestly believed that their Lord Christ was a “White dude” even though no White person lived in Nazareth during Christ time.

    To this day, Pope Francis is lying to his brainwashed sheep that Christ was a Jew.

    https://rehmat1.com/2013/09/25/pope-francis-jews-and-poor-jesus/

  17. Rehmat says:
    @random observer

    Your crap doesn’t make any sense, but I did laugh on your Hasbara in support of Judeo-Christian colonists who murdered and raped hundreds of millions people in Americana, Africa, Asia, Australia and New Zealand. The European barbarian used the wealth of the colonies to turn their DARK AGE into a CIVILIZED AGE.

    I remember, Eric Margolis’ summing-up of western culture in one of his books. He said “when Indian sub-continent was going through its ‘Golden Age’, London was a city of 15,000 unwashed White folks.”

    Under Muslim rule, when Spain was home to world’s largest Universities and libraries containing millions of books on almost every subject – the largest library in Europe was in Vatican with only 10,000 books.

    In 2014, nearly two million Catalans (total population 7.5 million) ignored pro-Israel prime minister Mariano Rajoy, former minister in Aznar’s cabinet, warning and voted for Catalonia’s independence from Spain.

    On October 12, 2012, Soeren Kern, posted an article at Israeli think tank Gatestone Institute, entitled ‘The Islamic Republic of Catalonia’, in which he try to scare the hell out of western Islamophobes. “A successful push for independence in the Spanish autonomous region of Catalonia with its capital in Barcelona would lead to the establishment of a country with the third-largest percentage of Muslims in Western Europe, just behind France and Belgium, and far ahead of Britain and Germany,” Kern said.

    https://rehmat1.com/2014/11/10/jewish-lobby-opposes-catalonias-statehood/

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