« Then and Now Thursday: De-Mapped on Flatbush | Main | A change at the ESDC: executive Juanita Scarlett, who had (some) AY responsibility, moves on after six months (updated/corrected) »

August 8, 2011

Qiao Wai immigration agency in China subject to skeptical local report regarding Brooklyn arena project

Atlantic Yards Report

The Chinese immigration agency recruiting the largest chunk of potential investors for the "Brooklyn Arena and Infrastructure Project"--the odd packaging of a loan to attract immigrant investors to Atlantic Yards--was recently subject to some skeptical mention in the local press. An article pointed to reported exaggerations in the promotion of the Brooklyn project as well as irregularities in the promotion of a project in Philadelphia.

The artilce--from the online news site of People's Daily, one of the country's largest newspapers--is hardly definitive, but it suggests some willingness in the Chinese press to look skeptically at the burgeoning world of EB-5 investment, in which those seeking green cards for themselves and their families park $500,000 in a purportedly job-creating investment.

The 8/2/11 article, was headlined, according to a translation I commissioned, "Risks involved in Immigrant Investment Programs; Qiao-Wai Group In Question." (Here's the Google Translate version.)

article

Posted by eric at August 8, 2011 11:31 AM