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February 27, 2015
WASHINGTON — Chinese investors seeking green cards to live in America run the risk of being defrauded under a loosely regulated visa program, according to a report Thursday from a federal watchdog.
The U.S.-China Economic and Security Review Commission raises questions about America's EB-5 visa program, which grants green cards to foreigners in return for investments of $1 million — or just $500,000 in high-unemployment or rural areas. Local government officials are supposed to vet the investors and their projects before visa applications are approved.
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