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And I have been pleased to satisfy them and happy to invite them. Chairman Leahy. Also, as my last concern, in a few of the testimony today there has actually been a tip that, of training course, just with all the thousands of billions, trillions of bucks prepared to invest, you should simply go somewhere else.


EB5 Regional Center ProgramEB5 Regional Center Program
Stenger. I would certainly inform you that in this environment the capacity to elevate resources for the important things we are doing would have-- it is impossible to do so in a fashion that would certainly allow us as successfully and as swiftly produce the important things we have actually done. You can obtain money if you have obtained half down.


I could have borrowed fifty percent of that if I had the $12 million in money to set up. Every person knows that, yes, banks have cash to financing as long as you have got fifty percent of it in your pocket before you ask for the other half. That is not just how service works these days.


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Legislator Grassley. Legislator Grassley. I want to admit that we just have unscientific information, but I would certainly such as to ask you to what extent you have to go or do go to make sure that the centers make certain that the financial investments do not develop jobs for individuals below illegally.


Mr. Stenger. We have employed-- as I claimed, at the Optimal we had 550 building and construction workers on our project.


They are made up of 10, 15, 20, 30 staff members. They are profiting straight from the financial investment. I understand the employees, I understand their households, and we have been able to employ-- through these last 3 years of awful economic chaos, we have actually been able to utilize virtually every building and construction employee in our region and the surrounding counties.


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They are invested in navigate to this website the areas, and they are all U.S. employees. Senator Grassley. Mr. Stenger.


Thanks. Mr. North, along the very same lines of the concern I asked him, has your research shown instances other-- and I only gave one example, so I intend to admit that and be accountable about it-- of centers working with undocumented individuals? Mr. North. That kind of information is really tough to obtain from USCIS, and click here for info I need to claim that what we do understand about a number of the internal aspects of that firm as far as this program is worried relates to situations in which the team has stated no to an application of some kind and afterwards the local center or the private business owner has actually mosted likely to the Administrative Appeals Workplace-- which belongs to the firm-- and there we obtain documents, we get a hearing police officer informing us what is taking place in that particular situation.




This is a negative application." So there is an amount of negative applications around, but only once that procedure obtains before an administrative law judge do we see a lot in the means of information. Now, there was one Extra resources case that you mentioned, and allow me simply elaborate on that particular a bit.


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EB5 Regional Center ProgramEB5 Regional Center Program


Do not take too long since I desire to ask an additional pair questions. Go ahead and rapidly finish. Mr. North. The dairy farm had declared 17 workers, and they entered into it, and the judge discovered that 16 of them were illegals. Currently, that is the one example I have, and it is a fine example.


Okay. I am going to ask different inquiries of each of the 3 of you, yet it deals with this one issue. As I claimed in my opening statement, I am worried concerning the prospective loophole that enables investors to withdraw their financial investment in local centers after receiving their permit.


Divine, are you knowledgeable about any instances in which a capitalist took out the investment and left instantly after getting a permit? And if you are, or if you assume it is a trouble, do you believe that it is a loophole that should be closed? Mr. Divine. I would claim that a lot of the financiers, if you asked them what are their goals, they would claim, "I intend to get a permit, and I intend to maintain it.


EB5 Regional Center ProgramEB5 Regional Center Program
Mr. Divine. Let me ask Mr. Stenger, is it typical for a financier in your experience to withdraw his or her financial investment instantly after getting a copyright? Mr.


Senator, no.

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