Fraud with EB-5 – Not in Vietnam

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Fraud is defined as “deceit, trickery, sharp practice, or breach of confidence perpetrated for profit or to game some unfair or dishonest advantage.” It’s a word that has been, unfortunately, unduly associated with the EB-5 investment immigration visa program.

On the one hand, there are several instances where fraud was, indeed, perpetrated. But a few instances (including Senator Harry Reid) does not a pattern make. On the other hand, that does not mean that there is not fraud being committed by some. Let’s face it, where people and money (or politics) are involved, we might as well expect someone to do something corrupt.

Having said that, apparently some Vietnamese define fraud, particularly with respect to EB-5 funds a bit differently. According to TuoitreNews (the news gateway of Vietnam), “many Vietnamese firms said they can dodge the law to transmit money abroad for their clients who are applicants for immigrant investor programs offered by the U.S. and other countries.”

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