How Chinese money and American greed turned the EB-5 visa program into a cesspool of illegality.
Illustration by Luis Grañena
The fugitive kept many names. For an HSBC bank account in Canada, he was Feng Li. For an Industrial and Commercial Bank of China account, he was Ling Wang. For another, he was Bo Gong. The fugitive had a litany of companies too, though what they actually did was unclear: CJ Max Investments LLC, Faith Advance Limited, S&O Investments LLC. He had investments the world over: the United States, Panama, Cyprus, Austria, St. Kitts and Nevis. According to the U.S. Department of Justice, all of it â
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At the height of the pandemic, Chinese vaccine maker Sinovac was a hero and one of the country’s most promising companies. But its success masked a protracted dispute between rival investors and management for control of the cash-rich company. The Wire China investigates what went wrong.
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