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Electric Car Company Sues Media Outlet over Bad Press

A fledgling electric car company founded by Virginia gubernatorial candidate Terry McAuliffe has sued Watchdog.org following an investigation highlighting the automaker’s use of a controversial government “cash-for-visas” immigration program.

GreenTech Automotive Inc. blames Watchdog for an alleged $85-million loss after publication of two articles detailing the woes of the government immigration program, called EB-5. In one article, a financial expert criticized the EB-5 program as “a fraud.” EB-5 has repeatedly come under fire for lax oversight. An Illinois program was recently the subject of a Securities and Exchange Commission probe.

The EB-5 program was created in 1990, and offers green cards to foreign nationals who invest at least $500,000 in U.S. companies to create 10 or more jobs.

Source: Human Events. Read full article. (link)

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  • Sevo||

    "The EB-5 program was created in 1990, and offers green cards to foreign nationals who invest at least $500,000 in U.S. companies to create 10 or more jobs."

    Wonder if there's any connection to this:
    "A China-based investor has agreed to help pay for a $1.5 billion development in Oakland..."
    Read more: http://www.sfgate.com/bayarea/.....z2QGfJlRX9

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