A couple of astonishing things happened last week in coverage of the EB-5 immigration visa program -- green cards for investments -- the dubious use of which I've investigated for months regarding Atlantic Yards.
The next astounding step for Brooklyn developer Forest City Ratner involves raising a $249 million interest-free loan from 498 Chinese millionaires seeking green cards.
If a seven-city promotional tour in China is successful, here's what may happen: 498 millionaires will park $500,000 for five years in an investment fund organized for the developer of Atlantic Yards.