This is only a Preview!

You must Publish this diary to make this visible to the public,
or click 'Edit Diary' to make further changes first.

Posting a Diary Entry

Daily Kos welcomes blog articles from readers, known as diaries. The Intro section to a diary should be about three paragraphs long, and is required. The body section is optional, as is the poll, which can have 1 to 15 choices. Descriptive tags are also required to help others find your diary by subject; please don't use "cute" tags.

When you're ready, scroll down below the tags and click Save & Preview. You can edit your diary after it's published by clicking Edit Diary. Polls cannot be edited once they are published.

If this is your first time creating a Diary since the Ajax upgrade, before you enter any text below, please press Ctrl-F5 and then hold down the Shift Key and press your browser's Reload button to refresh its cache with the new script files.


  1. One diary daily maximum.
  2. Substantive diaries only. If you don't have at least three solid, original paragraphs, you should probably post a comment in an Open Thread.
  3. No repetitive diaries. Take a moment to ensure your topic hasn't been blogged (you can search for Stories and Diaries that already cover this topic), though fresh original analysis is always welcome.
  4. Use the "Body" textbox if your diary entry is longer than three paragraphs.
  5. Any images in your posts must be hosted by an approved image hosting service (one of: imageshack.us, photobucket.com, flickr.com, smugmug.com, allyoucanupload.com, picturetrail.com, mac.com, webshots.com, editgrid.com).
  6. Copying and pasting entire copyrighted works is prohibited. If you do quote something, keep it brief, always provide a link to the original source, and use the <blockquote> tags to clearly identify the quoted material. Violating this rule is grounds for immediate banning.
  7. Be civil. Do not "call out" other users by name in diary titles. Do not use profanity in diary titles. Don't write diaries whose main purpose is to deliberately inflame.
For the complete list of DailyKos diary guidelines, please click here.

Please begin with an informative title:

A little known program put in place by H.W. Bush in 1990 grants Visas to foreign investors for a minimum $500,000.00 investment.  The purpose of this program originally was for foreign investors to create jobs in disadvantaged communities as well as expand current business enterprises.  In return, those investors would be fast-tracked to citizenship via Visas by the INS.  Unfortunately, Democrats also bought into this plan figuring that it was ok to pump money into the economy as long as we had a little oversight.  Also, too, Canada had a program similar to this in place and they figured why should all the money go to Canada?

South Dakota has had numerous projects funded this way...only a couple of them have worked out.  The beef plant in Aberdeen and Veblen dairy were both promised money by foreign investors but both were promised more money than they received.  Both have now gone bankrupt and hundreds of South Dakotans are out of jobs.


You must enter an Intro for your Diary Entry between 300 and 1150 characters long (that's approximately 50-175 words without any html or formatting markup).

This article lays out the problems of this program and points out how even after an administrator is no longer with the INS, they can profit off the EB-5 program with no accountability.


Evidently, there were some guidelines put in place after this article ran, but still not enough oversight.
South Dakota jumped on the EB-5 bandwagon during Mike Rounds' administration.  He is currently running for Sen. Tim Johnson's soon-to-be-vacated seat.  Gov. Rounds contracted with Joop Bollen to administer the program.  Bollen is now being investigated for fraud related to the program.


Our former director of tourism, Richard Benda, also worked with Joop Bollen on these EB-5 contracts.  He was found dead in southeast South Dakota in October while hunting.  No official cause of death has been indicated, but his brother-in-law said he was shot in the side.  This is also being investigated.


And here is a link to Corey Heidelberger's excellent summary in South Dakota Magazine. He operates an awesome blog in South Dakota, Madvilletimes.com.


To sum up:

South Dakota bought into the idea of cheap investment money to expand business in South Dakota via the EB-5 program.  Governor Rounds enlisted the help of his friend, Joop Bollen to administer it.  Richard Benda worked with Bollen and was the head of our tourism industry.  EB-5 gets investigated, Bollen's government contract is dropped, Benda ends up dead in a suspicious hunting accident.

Move along, nothing to see here...typical South Dakota politics.

Extended (Optional)

Originally posted to vikingobsessed on Thu Nov 14, 2013 at 02:54 PM PST.

Also republished by South Dakota Kos.

Your Email has been sent.