Are Developers Using Poor Neighborhoods to make Foreign Nationals Rich?

(photo credit: Curbed LA)

(photo credit: Curbed LA)

Unfortunately we can’t link you to the original story in the Los Angeles Business Journal (LABJ), but apparently they have uncovered a scam that involves developers lying about building in poor areas- like Leimert Park.

CurbedLA is reporting about a crafty scheme, uncovered by LABJ, in which developers use poor neighborhoods in the US to take money from rich foreign nationals, who get green cards in exchange.

Under the EB-5 program, foreign citizens can get a US visa just by investing $500,000 or more in a “targeted employment area” (a community that needs the jobs)

Read the full article by clicking here.

Comments are closed.

About 2urbangirls

2 Urban Girls has been cited in City Watch LA, Compton Herald, Daily News, Inglewood Today, Intersections South LA, KCRW, KPCC, Los Angeles Times, LA Weekly, LA Watts Times, Mercury News and The Atlantic.

Copyright © 2011 - 2018 Urban Girl Media All Rights Reserved.