Wealthy Mexicans Are Increasingly Investing in the U.S. to Escape Cartel Violence

Teke Wiggin, FoxNews, May 21, 2011

Mexican businessman Juan Jose Pardo had finally seen enough of the drug killings in his country, and was increasingly worried over the safety of his wife and two children.

{snip} Pardo is one of a rapidly increasing number of wealthy Mexicans to who are attempting to escape the violence by investing $500,000 or more in American business projects–thereby earning legal and permanent residency status in the U.S.

“It appears to be the easiest way to get your papers so you can immigrate,” said Pardo, who manages a clothing center and tourism company in Mexico City.

Members of the Mexican elite are filing for EB-5 visas, which can grant the well-heeled financiers and their families green cards in exchange for investments in projects demonstrated to create or sustain 10 U.S. jobs.

{snip}

Mexicans last year made up a small fraction of EB-5 applicants–who are approved around 75 percent of the time–with just 34 filings, according to the U.S. Bureau of Citizenship and Immigration Services.

By contrast, more than 1,200 Chinese applied for the visa. {snip}

{snip}

And Mexican politicians argue the migration of Mexico’s biggest spenders could deal a serious blow to its economy–possibly spurring even more illegal immigration to the U.S. The regional center program, launched in 1993, is set to expire in September 2012.

But Sen. Patrick Leahy, D-Vermont, pointing to projects in his state like two EB-5-financed ski resorts as indications of the program’s success, is sponsoring a bill to permanently charter it. “Making the EB-5 program permanent should receive bipartisan support,” Leahy said at a March press conference.

Meanwhile, Pardo–who plans to invest in CMB, an organization of two regional centers overseeing projects in and around U.S. military bases–will bide his time in Mexico City as he waits to hear whether his initial EB-5 filing is approved. He applied at the beginning of the year but probably won’t hear for months to come.

{snip}

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  • Anonymous

    “It appears to be the easiest way to get your papers so you can immigrate,” said Pardo, who manages a clothing center and tourism company in Mexico City.

    Members of the Mexican elite are filing for EB-5 visas, which can grant the well-heeled financiers and their families green cards in exchange for investments in projects demonstrated to create or sustain 10 U.S. jobs.

    ——————————————–

    The very first thought that came to my mind is, where did their money come from to have those businesses? Drugs? Are those businesses a cover for drug monies? I do NOT want them here or their businesses! We have now sold America to those with money? Not to mention those who just come and get it all for free? Like 3rd world immigrants and illegals?

  • ProudtobeWhite

    Who are these wealthy Mexicans? Primarily drug dealers…

  • Michael C. Scott

    Not all rich Mexicans are involved in the drug trade, Anonymous (1). Mexico has quite a number of very wealthy people. What it doesn’t have is much of a middle class.

  • Anonymous

    As America sinks beneath the waves of huge debt and out of control inflation, more and more wealth will be imported in trade for real property. Something which will get worse when, in 2016-18, China surpasses us in GDP an unpins the RMB.

    This is what capitalism has done to us, made us addicts to a virtual work product. 1s and 0s on some electronic account.

    No one acknowledges that real value lies in the material product produces and the social cohesion (willingness to share) of those who produce it.

    And this problem was _created_ by elites. People who see ONLY profit and loss in what they do and so have no problem sending critical processes in manufacturing overseas.

    Drill it here——->manufacture it here———–>sell it here.

    Through literally DOZENS of intermediate steps is an easy way to make a lot of money while appeasing other entry-elites with their own piece of the pie. Because every process step you add, every back you employ, is another penny you can take profit from as stock ownership.

    The problem is that this is thermodynamically _extraordinarily_ wasteful. Because as T101 says: You can never get more work product out than energy in and each added step creates friction losses due to inefficiency.

    When what you are creating (as profit) is nothing but 1s and 0s within a fixed (diminishing) resource allocation, that is just stupid. But the elites don’t care, so long as they finish at the top, they always assume some Edison or Ford will come up with a new way to make the system work, cheaper. To shave a little more off the edge.

    And since this planet _never had_ enough resources to support everyone at the First World level of standard of living we are used to. What such a betrayal does is make sure that now, with 90% of the real population (junk consumerists, born and bred) coming from the third world, only by remaking the middle class into serfs can they continue to stay on top.

    All to own _virtual_ workproduct. 1s and 0s.

  • Question Diversity

    3 MCS:

    Carlos Slim, Mexico’s richest man and now probably the world’s, got his money from owning the telecom company that got a state-sponsored monopoly on cell phone service in Mexico. The New York Times has gotten rescue financing from Slim on at least two recent occasions.

  • ciccio

    They have a similar program in Canada which ran into a bit of a glitch some years back. There was a sudden influx of Pakistanis, each with their million dollars, it turned out the million was only used to send back to Pakistan and bring the next “millionaire”

  • Anonymous

    Agree with (2) Proudtobewhite. Most wealthy Mexicans make/made money in drug/human trafficking. It is Mexico’s biggest business. There are few other opportunities to become wealthy. This is why USA is being invaded and now owned by drug/traffick money laundry. The money laundry holds much CA real estate/equities. The amazing part of this ongoing transformation is that the US governments have aided and abbetted the invasion and money transfers; even taxing US citizens to pay for the illegal aliens and their children. The so called regulators are like the regulators to the banks and mortagage industries. This is what I mean by money laundry.

    It is clearly obvious the US is rapidly becoming a foreign entity to itself. The government does not know the citizens or founding principles.

    US foreigns have no idea what it is to be Amercian. The culture and language is replaced by a NEW media representation of multicultures that contain nothing of core America or its values. The country is lost to the popular ideas of what the MSM says USA is. . . not what the Consititution is based upon or the core priceless values that really made the country work.

    Now it is a foreign entity that knows not what it is. No identity, no culture and no religion. A polyglot vaccum of confusion and alienation.