EB-5

EB-5 has become code for one of South Dakota's most complex political scandals. EB-5 is the program by which foreign investors buy a chance at getting a visa by investing a half million dollars to create jobs.

EB-5 is alive now in federal court, with foreign investors suing to be repaid a loan of $32.5 million.

The money came from a limited partnership called SDIF, which brought in 65 foreign investors putting up $500,000 each.

A limited liability company, or LLC, called Tentexkota, borrowed the money to build the Deadwood Mountain Grand casino and event center.

In The Moment ... February 16, 2017 Show 032 Hour 1

Lulu Garcia-Navarro is the new host of NPR’s Weekend Edition Sunday. She talks with Lori Walsh about taking the helm of a legacy program on NPR, how an intimate conversation creates a driveway moment, and how the role of American journalists hasn’t changed as much as some people think.  

A man accused of misusing money related to the federal EB-5 program has pleaded not guilty to all charges.

Joop Bollen faces five class six felony charges of disposing of personal property subject to security interest. He’s accused of taking more than a million dollars from a program offering visas in return for investment money. Bollen pleaded not guilty to all five counts, and is requesting a trial by jury. He is currently out on bond.

A man accused of taking money that was related to a federal program made his initial court appearance in Aberdeen Friday. Joop Bollen is accused of misusing funds connected to the EB-5 program, which offers visas in return for investment dollars.

Governor Dennis Daugaard says the state needs to examine the Gear Up scandal and learn how to avoid similar situations in the future.   

Shortly after the state terminated its relationship with administrating organization, the Mid-Central Education Cooperative, an employee at the program killed himself and his family.  

 Daugaard says the state needs to do a better job ensuring that outside agencies it does business with are adhering to ethical practices.

He made the statements on today’s Dakota Midday. 

Roger Whittle, managing editor of the Watertown Public Opinion, and Denise Ross, editor with the Black Hills Knowledge Network/South Dakota Dashboard, discusses Tuesday's budget address by Governor Dennis Daugaard.  They also visited about the latest news concerning EB-5 lawsuits and the possibility that the U.S. Air Force could base some of its F-35 joint strike fighters in Sioux Falls.

Investigations into three separate corruption scandals involving state government are now underway in South Dakota.
 
They include EB-5, Gear Up, and alleged missing state funds along with items from the Secretary of State’s office.
 
These scandals have lead some in South Dakota to question the level of oversight in state programs.
 

Dana Ferguson, watchdog state government and political reporter for the Sioux Falls Argus Leader, joined guest host Cara Hetland to discuss DAKOTACARE's exit from the Federal Exchange and a federal immigration agency's plan to drop South Dakota's EB-5 program among other items.

After more than five years as South Dakota’s United States Attorney, Brendan Johnson is stepping down. Wednesday Johnson held a news conference to announce that March 11th is his final day in the office.

Brendan Johnson says he set goals when he became South Dakota’s U-S Attorney five and a half years ago. He says he’s proud of accomplishments made under his leadership. Johnson says tribal communities are safer, violence against women and children has decreased, and South Dakotans are cracking down on sex trafficking.

Three candidates running for South Dakota’s open U.S. Senate seat hammered Mike Rounds on EB-5 in Thursday night’s debate. 

The federal immigration program was the first question in the debate; it’s been a major issue in this year’s race.
 
Rick Weiland, Larry Pressler and Gordon Howie all criticized Mike Rounds for his role in alleged corruption, embezzlement and fraud in the program.
 
Rounds says EB-5 has been good for South Dakota.

Rapid City Journal reporter Seth Tupper and Sioux Falls Argus-Leader political reporter David Montgomery joined the Dakota Political Junkies this week. They discussed the latest news in the race for the U.S. Senate seat being vacated by Democrat Tim Johnson along with the unfolding EB-5 saga.

The EB-5 story has become a centerpiece in the U.S. Senate race.

Former Governor Mike Rounds states he had nothing to do with the alleged embezzlement and fraud that occurred in part of the program before Northern Beef Packers went bankrupt.

Rounds says he’s been upfront and transparent with the public.   
 
But his answer to the question, “What did you know when?” has changed over time.

Click play below to hear the rest of the story.

Three people want to be South Dakota’s next governor, and they meet Thursday night in a statewide broadcast to share their visions with voters. Candidates meet on SDPB TV for a gubernatorial debate guided by questions from people across the state.  The three are likely to focus their answers on the issues they see as most important for South Dakota citizens.

It’s been over a year since Northern Beef Packers went bankrupt and some business owners in the Aberdeen area say they don’t expect to recover losses.  

According to the bankruptcy filing from August of last year Northern Beef owed more than $138-million to hundreds of businesses and individual investors from around the world, and even local city and state government.

NPB was receiving millions in foreign investment through the federal EB-5 program that is now the center of controversy.

On Wednesday members of the Government Audit Operations Operations met in Pierre to discuss the EB-5 program. Lawmakers reviewed written responses from former Republican Governor Mike Rounds and current Governor Dennis Daugaard to questions asked by the committee. Rounds is running for U.S. Senate and Daugaard is seeking re-election. Democrats have been making EB-5 an issue in the fall campaign and trying to link it to Rounds.

State lawmakers on the Government Operations and Audit Committee reviewed Governor Dennis Daugaard and former Governor Mike Rounds’ written responses to questions about the EB-5 program on Wednesday. They also formulated questions for the program's former director, Joop Bollen. Sioux Falls Argus-Leader reporter and columnist Jonathan Ellis and Rapid City Journal reporter Seth Tupper joined Dakota Midday and discussed the latest news in the unfolding EB-5 saga.