It’s business as usual for the businessman turn Republican presidential candidate, Donald Trump. And seeing an opportunity to basically sell immigration visas to Chinese investors, Trump reportedly pocketed millions.
Bloomberg reports that a “Sopranos”-themed video with Chinese subtitles was used to attract the investors through a controversial immigrant visa program for the building, which bears the name of Trump, who has strongly criticized China throughout his presidential campaign for taking away jobs and money from the U.S.
The EB-5 visa program, which provides mostly Chinese nationals a two-year visa and chance at residency for those investing at least $500,000 in a project aimed at creating jobs, has been of concern to critics who characterize it as the U.S. selling visas to those without proven skills.
Bloomberg quoted the US Immigration Fund, which said the Trump Bay Street luxury rental apartment building raised $50 million, roughly a quarter of its overall funding, from loans through the EB-5 program, mostly from Chinese investors.1