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New York

The fight to reform EB-5 regional centers

Clearinghouses have emerged as a crucial-but-controversial reality in raising cheap foreign capital

A rendering of Nassau Colosseum with Nick Mastroianni
A rendering of Nassau Colosseum with Nick Mastroianni

From the April issue: Nicholas Mastroianni II is a man in perpetual motion.

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The 52-year-old CEO of the U.S. Immigration Fund, which raises money from foreign investors for real estate developments through the EB-5 program, spends a considerable chunk of his time on the road.

Last month, that meant a 10-day trip to China, Korea and Vietnam — which partly explains why, in the middle of that trip, after several attempts to connect, he emailed to suggest a phone call at 11 p.m. Korea time. [more]

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