Blue Biofuels Inc (BIOF)

[LTE]

EB-5 Program - ALLM was trying to raise $150 million in EB-5 money
but it looks like their scam was too obvious for them to raise
that much money so that didn't happen:

http://investorshub.advfn.com/boards/read_msg.aspx?message_id=128820394

If it did, that money probably would have gone out the window like
the recent lawsuit against Joseph Walsh et al. says happened to the $50 million that was raised by Joseph Walsh (an ALLM board member as of last year)

http://www.livetradingnews.com/palm-beach-news-joe-walsh-ryan-black-50m-eb5-fraud-allegations-23598.html#.WKiQgDsrKM8

I warned the board about the EB-5 program about 1.5 years ago but
I got a lot of flack from the imbecilic insiders and their cronies
on this board from this and other important things:

South African Asset Magazine.

This looks to be one of the men at Spearhead Capital in
South Africa. I found comment in this article a little
confusing - it says the EB-5 visa program is "closely
monitered by the US government" - it's on page 32:

http://www.assetmag.co.za/issue32/html5/index.html?page=110

But this article in Fortune Magazine is titled "The dark, disturbing world of the visa-for-sale program":

http://fortune.com/2014/07/24/immigration-eb-5-visa-for-sale/

The above article from Fortune says that not all of the EB-5
visa regional centers are corrupt - some are legitimate. But
the Fortune article above does say this below which is inconsistent
with the comment above:

<<But because the EB-5 industry is virtually unregulated, it has become a magnet for amateurs, pipe-dreamers, and charlatans, who see it as an easy way to score funding for ventures that banks would never touch. They’ve been encouraged and enabled by an array of dodgy middlemen, eager to cash in on the gold rush. Meanwhile, perhaps because wealthy foreigners are the main potential victims, U.S. authorities have seemed inattentive to abuses.>>

I wonder who is right - the one man from Spearhead or the two authors
from Fortune Magazine (Peter Elkind , Marty Jones) as well as Fortune's editorial staff?

Any opinions?

http://investorshub.advfn.com/boards/read_msg.aspx?message_id=115167903