GAO report finds fraud in EB-5 investment visa

August 14, 2015
As per the new Government Accountability Office report, the EB-5 program for wealthy investors is fraud and vulnerable.

The EB-5 visa program grants visa to the foreign nationals investing about $1 million or at least $500,000 in the highly unemployment areas or in any business that creates a minimum of 10 full time jobs in USA.

GAO report points fraud in EB-5 investment visa program

The GAO says that USCIS methods of data collection are incomplete, the economic benefits assessment may not be very accurate, and further the information system that collects more data is very old.

There are frauds and uncertainties involving the source of funds of the investor questioning the legitimacy of the EB-5 investment and the political favoritism.

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