Security concerns raised over visa program for foreign investors

Grassley, in a Dec. 12 letter to ICE Acting Director John Sandweg, asked what ICE is doing "to help ensure the U.S. does not provide EB-5 visas to individuals and entities that are involved in international terrorism."Some argue major security improvements to the program have been made over the past several years and that Congress has been apprised of them as members continue to reauthorize the program.However, Grassley argues the ICE memo -- which he released -- shows Congress needs to know more."It appears that there are additional concerns about national security that Congress has not previously heard and will need to consider as the program continues," he told FoxNews.com on Monday.

According to the memo, federal agents learned two Iranians were trying to "facilitate terrorism" and were "involved in an illicit procurement network that exports items to Iran for use by 'secret' Iranian government agencies."At least one of them was indicted and arrested in connection with allegations cited in the ICE investigation, according to the heavily redacted, five-page memo. The connection to the EB-5 program is unclear, but the memo appears to indicate that a company involved in the investigation was participating in that program. DHS spokesman Peter Boogaard said Monday the federal government has taken "unprecedented steps" in the past four years to improve security and detect fraud within the EB-5 program. He also said the internal memo focused on just one regional center, which was suspended from participating in the program until an investigation found no evidence of "nefarious" activity.

The EB-5 visa program was created by Congress in 1990 to stimulate the domestic economy through foreign investment. It originally required applicants to invest at least $1 million and grants them and immediate family members a temporary visa with the potential to get a permanent one after roughly two years.The Regional Centers program was added in 1992 and requires only a $500,000 investment into projects that help economically depressed regions.