There’s a good bit here of interest in this surprisingly hostile Washington Post article on Democratic gubernatorial candidate Terry McAuliffe* and his horrible, awful, no good kiddie electric car company GreenTech, but one particular bit jumps out:
VEDP [Virginia Economic Development Partnership] officials were also uneasy about GreenTech’s heavy reliance on EB-5 financing. A top GreenTech executive told the VEDP that each year, 20,000 Chinese entrepreneurs immigrate using the EB-5 program.
“If we obtain a fraction of that market alone, the funding will be substantial,” Yi “Gary” Tang, a former mortgage-backed securities trader who is now executive vice president of finance at GreenTech, told VEDP officials in an e-mail.
Yet the maximum number of foreign entrepreneurs authorized by Congress is 10,000 a year, and the Government Accountability Office found that many fewer participated. Even after a surge of interest in recent years, a USCIS ombudsman said, about 7,400 visas were issued in 2012.
…So, basically, the Washington Post is reporting that McAuliffe’s company lied to the Commonwealth of Virginia in 2009.
You know, I may just be one of these new media guys and all of that, and I certainly didn’t go to J-school: but shouldn’t you lead an article with a revelation like that?
Moe Lane (crosspost)
*One of the major things of interest being that the article was written in the first place, and not turned into an exercise in slamming Ken Cuccinelli’s social conservatism. Based on the Washington Post’s past track record, I kept expecting the article to suddenly segue to revelations that Ken had had a fight with another kid in sixth grade recess.