It looks like you're using an Ad Blocker.
Please white-list or disable AboveTopSecret.com in your ad-blocking tool.
Some features of ATS will be disabled while you continue to use an ad-blocker.
Former Mayor Richard M. Daley and his son are aiming to cash in on a federal program that offers green cards to wealthy foreigners with a deal that could bring their company $15 million, records obtained by the Chicago Sun-Times show.
Tur Partners — which Daley formed with his son Patrick Daley after leaving office — is seeking permission from the U.S. Department of Homeland Security to solicit $150 million from foreign investors to help finance construction of a downtown skyscraper through a controversial visa program known as EB-5.
An Obama ally embroiled in a corruption scandal as a big-city mayor is using a controversial foreign visa program determined by Homeland Security officials to be plagued with “crippling fraud and national security vulnerabilities” to raise millions of dollars for his company. Hundreds of foreigners, mainly from China, are expected to bankroll a skyscraper project via the EB-5 program that provides visas and a path to American citizenship for foreign nationals that invest $1 million in the U.S.
In this case, former longtime Chicago Mayor Richard M. Daley and his son are asking the Department of Homeland Security (DHS) to let them solicit $150 million from foreign investors by using the EB-5 visa program. Chicago’s conservative newspaper published an investigative piece this week after obtaining hundreds of pages of government records. Though the documents were “heavily redacted,” there was enough information to cause alarm, especially after connecting the dots between the president and the disgraced former mayor. During Daley’s tenure more than 30 city workers, including two senior administrators close to the mayor, and contractors got federally indicated for taking bribes. A dozen cabinet-level officials also resigned in the fiasco.
When Obama became president, he hired some of Daley’s top people, including David Axelrod, who was the Chicago mayor’s chief consultant, and Valerie Jarrett, his former deputy chief of staff. In his ill-fated effort to bring the 2016 Olympics to his adopted hometown of Chicago, Obama deployed Jarrett, a senior White House advisor, to the Windy City to work out the details with Daley. Judicial Watch investigated the scandal and had to sue to uncover records involving the president’s costly plan to bring the Olympics to Chicago. This included a trip to Copenhagen by Obama and his wife to appeal to the International Olympic Committee to give Chicago the bid that went to Rio de Janeiro. Four years and millions of dollars in planning came to an abrupt halt in the Windy City, where local leaders—including Daley—and politically-connected business owners were banking on Obama’s star power to bring the games home.