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1.82 MB
Extraction Summary
7
People
7
Organizations
2
Locations
2
Events
3
Relationships
4
Quotes
Document Information
Type:
News article printout (the real deal)
File Size:
1.82 MB
Summary
This document is page 7 of a printed news article from 'The Real Deal' dated June 26, 2019, discussing corruption and lack of oversight in the EB-5 visa program, specifically regarding the 'Palm House' development. It details lobbying expenditures by trade groups to prevent reform and highlights the termination of regional centers by USCIS due to foul play. The text profiles 'SARC's Walsh' as a mysterious figure compared to the well-documented Robert Matthews, noting Walsh's unverified claims about his business background.
People (7)
| Name | Role | Context |
|---|---|---|
| Latour | Expert/Commentator |
Commented on the lack of enforcement regarding fiduciary rules and regional centers.
|
| Gibson | Expert/Commentator |
Compared the industry to opioid or tobacco industries regarding lack of oversight.
|
| Robert Matthews | Developer/Subject |
Mentioned in header and text; background is described as well documented in local news.
|
| Walsh | Regional Center Operator |
Associated with SARC; described as a mystery; claims background in advertising/engineering.
|
| Clintons | Mentioned in Header |
Keyword in document header.
|
| Trump | Mentioned in Header |
Keyword in document header.
|
| Tony Bennett | Mentioned in Header |
Keyword in document header.
|
Organizations (7)
| Name | Type | Context |
|---|---|---|
| South Florida Real Estate News |
Header branding.
|
|
| USCIS |
Terminated nearly 220 regional centers since 2017.
|
|
| Invest in the USA |
Spent $1.8 million lobbying.
|
|
| Related Companies |
Their EB-5 business spent $500,000 lobbying in 2018.
|
|
| Center for Responsive Politics |
Source for lobbying financial data.
|
|
| SARC |
Associated with Walsh.
|
|
| Palm House |
Subject of the article and EB-5 marketing brochures.
|
Locations (2)
| Location | Context |
|---|---|
|
Focus of the real estate news.
|
|
|
Mentioned in URL.
|
Relationships (3)
Text refers to 'SARC’s Walsh'
Mentioned in context of Palm House EB-5 marketing brochures
Header links Palm House and Robert Matthews
Key Quotes (4)
"That’s where the weak link of the chain is — there is no real enforcement of the fiduciary rule to protect investors"Source
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Quote #1
"The regional center says, ‘Hey I’m not responsible.’"Source
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Quote #2
"This is not unlike any other industry that can produce a toxic product like the opioid industry or the tobacco industry"Source
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Quote #3
"There is a powerful interest involved. They don’t want any oversight."Source
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Quote #4
Full Extracted Text
Complete text extracted from the document (1,964 characters)
Palm House Robert Matthews EB-5 Clintons Trump Tony Bennett https://therealdeal.com/miami/issues_articles/lost-paradise-at-th...
SOUTH FLORIDA REAL ESTATE NEWS
SUBSCRIBE MY ACCOUNT
Solutions. In turn, regional centers do not have an obligation
to protect investors’ money if a development project sours.
to protect investors’ money if a development project sours.
“That’s where the weak link of the chain is — there is no real enforcement of the
fiduciary rule to protect investors,” Latour added. “The regional center says, ‘Hey I’m
not responsible.’”
fiduciary rule to protect investors,” Latour added. “The regional center says, ‘Hey I’m
not responsible.’”
The USCIS spokesperson said the agency has terminated nearly 220 regional centers
since January 2017, due to evidence of foul play.
since January 2017, due to evidence of foul play.
But U.S. legislators have continued to kick the EB-5 program down the road, giving it
about 20 short-term extensions with many lasting only six months. And industry
lobbyists have aggressively pushed back against any reform. The EB-5 trade group
Invest in the USA has spent nearly $1.8 million lobbying on the federal program’s
behalf since 2014, while the lobbying group for the Related Companies’ EB-5
business spent more than $500,000 in 2018 alone, according to the Center for
Responsive Politics.
about 20 short-term extensions with many lasting only six months. And industry
lobbyists have aggressively pushed back against any reform. The EB-5 trade group
Invest in the USA has spent nearly $1.8 million lobbying on the federal program’s
behalf since 2014, while the lobbying group for the Related Companies’ EB-5
business spent more than $500,000 in 2018 alone, according to the Center for
Responsive Politics.
“This is not unlike any other industry that can produce a toxic product like the opioid
industry or the tobacco industry,” Gibson said. “There is a powerful interest involved.
They don’t want any oversight. They don’t want information about their projects to
come public.”
industry or the tobacco industry,” Gibson said. “There is a powerful interest involved.
They don’t want any oversight. They don’t want information about their projects to
come public.”
Blurry middlemen
Unlike Matthews, whose background is well documented in local news, SARC’s Walsh
remains something of a mystery.
remains something of a mystery.
In the Palm House EB-5 marketing brochures, the smiling gray-haired regional center
operator claims to have a background in advertising and electrical engineering. He
also claims to have launched “several startup computer and graphics firms that he
brought to the public markets in the late 1990s and early 2000s.”
operator claims to have a background in advertising and electrical engineering. He
also claims to have launched “several startup computer and graphics firms that he
brought to the public markets in the late 1990s and early 2000s.”
Walsh could not be reached for comment through his lawyer.
7 of 10 6/26/19, 11:57 AM
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