2013年11月13日星期三

Many SD projects used EB-5 visa program

"In a democracy, we have learnt that every opinion must be respected even if it is not accepted," he said.Referring to Modi, Sinha said it often scares him that there is "too much expectation from one person" and from his "magic wand" but stated that if BJP comes to power in next year's general election, it will begin working on providing solutions to the issues plaguing the country."The kind of mega scams that have hit the country, right from Coalgate to Railgate, people are wondering what is happening. No concrete action is being taken and even if some action is taken it is China Work Visa application form too little too late," he said.Sinha, who had earlier pitched for senior BJP leader L K Advani, saying he was the best choice for party's prime ministerial candidate, denied that he has taken a U-turn by backing Modi.

Countering claims that his support for Modi now tantamounts to a "U-turn", Sinha said, "I have not taken a U-turn regarding my opinion about the Gujarat Chief Minister but have taken the right turn at the right time". More than a dozen other large South Dakota projects were funded by the same controversial visa program used by the Northern Beef Packers Plant that is now bankrupt and under an apparent federal investigation.Projects including a power plant, several dairies and a Black Hills hotel and casino were funded entirely or in part by wealthy foreigners who invested $500,000 each in exchange for green cards through the federal EB-5 program, the Argus Leader reported. Many of those projects are successful enterprises, but at least one other is a failure.

Former officials of the Northern Beef Packers plant have said federal investigators have been asking questions about the financial dealings and EB-5. The 120 Chinese investors who loaned $500,000 each to the plant are now seeking in bankruptcy court to get as much of their investment back as they can.But Ken Rutledge, CEO of Huron's Dakota Provisions turkey processing plant, says the financing program worked well for that plant."It's a terrific program," he said.Dakota Provisions borrowed $55 million from 110 foreign investors under the EB-5 program. It now employs about 800 people,China Student Visa application even though it's not yet running at full capacity.

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