"Terry McAuliffe's Solyndra"
. . . Virginia was particularly alarmed by GreenTech's use of an opaque visa program, called EB-5, to fund itself. Part of a 1990 immigration law, EB-5 lets foreigners who invest at least $500,000 in a U.S. company receive green cards. A federal immigration agency approves "regional centers" that administer the program.
While these centers can be run by local government, GreenTech proposed running a Virginia center itself. One official at the Virginia development agency wrote to colleagues that she couldn't view Greentech's EB-5 program as "anything other than a visa-for-sale scheme with potential national security implications." . . .
Labels: Terry McAuliffe