The US financial regulator the Securities and Exchange Commission (SEC) announced on 8th February 2013 that it has filed a complaint against Anshoo Sethi, a Chicago based businessman. It has instigated legal proceedings against Mr Sethi and his investment trust, the Intercontinental Regional Center Trust of Chicago and frozen $145m of assets held by the Trust after an investigation into a suspected multi-million dollar fraud carried out on 290 investors, mostly from China.
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US Immigration News
Items tagged with "US Immigration News":
Barack Obama, the President of the US delivered his annual State of the Union Address on Tuesday 12th February 2013 and called, among other things for immigration reform including the establishment of a pathway to citizenship for the 11m undocumented immigrants who are believed to be living in the US illegally.
A group of four senators has proposed a new law that would see the US government grant 125,000 more employment-based green cards each year. The Startup Act 3.0 would grant 75,000 green cards (properly known as lawful permanent residence) annually to immigrants who start up companies and a further 50,000 to graduates from US universities with advanced science and engineering degrees. The act has been introduced in the Senate by Republicans Jerry Moran of Kansas and Roy Blunt of Montana and Democrats Mark Warner of Virginia and Chris Coons of Delaware.
The US electorate is fairly evenly split on many issues surrounding immigration but when asked whether immigrants are beneficial for the US overall, only 35% of those asked in a recent poll said they thought that they are harmful while 45% said that they believe that immigrants have been good for the US.
A Republican Representative has reintroduced the STEM Jobs Act in the House of Representatives. If it becomes law, the Act will see 55,000 green cards (permanent resident permits) going to foreign born graduates of US universities in technical subjects each year.
The leader of the Republican Party in the House of Representatives, the junior chamber of the US Congress, has said that he will support a change to the law that would, in time, allow some illegal immigrants to become US citizens.