A Glance in the Rearview Mirror
We at CMB have a simple philosophy , and that is to take care of the EB-5 petitioner and their family . If this is done properly , the goals of all other stakeholders in the EB-5 program will be accomplished as well .
In 2010 , at the California Service Center , Patrick F . Hogan warned the USCIS and other industry stakeholders that there needed to be proper oversight of the EB-5 program or “ we , as a group , will commit suicide ,” which recent fraudulent events seem to have proven these words to be true .
In 2011 , Patrick F . Hogan provided written testimony to Congress outlining problems within the EB-5 program and warned of the abuses and failures he believed would follow and again time has proven this to be true !
In 2013 , Patrick F . Hogan warned then Director Mayorkas that TEA abuse was rampant , and provided empirical evidence of this fact to the Director during a publicly broadcast meeting .
The misuse and abuse of Targeted Employment Areas ( TEA ) continues to plague our industry . The practice of TEA abuse continues completely outside the law and regulations . Runaway referral fees threaten the very life of the EB-5 program because the focus is no longer upon a well structured project rather prospective EB-5 investors are seemingly sold like cattle to the highest bidder . Many practitioners within our industry have either lost their focus , or they have never understood where their focus should be ( upon the client ). Either way , these are dangerous practices that should not continue .
CMB calls upon those within our industry , including Congress and the USCIS , to reset our priorities and put the EB-5 petitioner and their family at the top , where they should be .
CMB Regional Centers
Midwest Executive Offices : 7819 42nd Street West , Rock Island , IL 61201 USA Phone : ( 309 ) 797-1550 ∙ Web : cmbeb5visa . com ∙ Email : info @ cmbeb5visa . com
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EB5 INVESTORS MAGAZINE