EB-5 Regulation

OMB guidelines implementing the DQA state:

As a matter of good and effective agency information resources management, agencies shall develop a process for reviewing the quality (including the objectivity, utility, and integrity) of information before it is disseminated.

An agency spokesman replied that it would comply with all applicable statutes and regulations, including the Data Quality Act. The agency is to be complimented for  its commitment to the quality of the information  it disseminates.

Editor’s Note: One  of the loudest criticisms of the EB-5 program is that it harbors fraudulent actions. A widely reported action deals with the “the largest fraud case in the federal EB-5 immigrant investment program’s history.”  The USCIS proposed regulations do not address fraud; for this reason   CRE is examining a range of options for combatting fraud and will be reporting its findings on this website.  If implemented the CRE option will allow the honest participants in the program to continue operations without a dark cloud over their operations.