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GOAC Meets On EB-5 Today

The EB-5 scandal is at the center of an upcoming meeting of the state Government Operations and Audit Committee or GOAC in Pierre today.

Listen live at9AM CT

EB-5 is a federal program that allows foreigners a permanent visa if they invest a half-million dollars in a  rural business.  Critics of the program in South Dakota allege embezzlement and improper oversight of EB-5 during Governor Mike Rounds Administration.  

State Legislators on GOAC have sent lists of questions to US Senate Candidate Mike Rounds,  Governor Dennis Daugaard, and SDRC, Inc. head Joop Bollen.   They also asked US Attorney Brendan Johnson to appear and answer questions.

Rounds replied with a pointed letter and answers to the committee.   He defends the federal EB-5 program for driving huge economic investments in the state during the recession.  Rounds reiterates his statement that investigations by eight separate entities have found no wrongdoing on his part.

The US Department of Justice responded on behalf of Johnson.  The letter from the DOJ won’t confirm or deny the existence of any federal investigation.    Officials say Johnson won’t comment further to the committee.

You can view a letter from the DOJ to the GOAC here.

You can view a response to GOAC Questions from Mike Rounds here.

Governor Dennis Daugaard's responses to GOAC are here and here.

A  letter from Joop Bollen’s attorney to committee members is posted here.

Follow this link to view the GOAC agenda for Wednesday's meeting.It starts at 9 a.m. central/8 a.m. mountain.

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